Internet Of Things Microcontrollers Market: Industry Information 2022
The rising IoT trend worldwide is the most significant factor fueling the IoT microcontroller market growth.
As stated in a recently published information by Credence Research “Internet of Things (IoT) Microcontroller (By Product — 8-bit, 16-bit & 32-bit) Market — Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 — 2023”, the global Internet of Things microcontroller market was valued at US$ 1,765.3 Mn in 2015 and is estimated to expand with a CAGR of 11.7% from 2016 to 2023.
Internet of Things (IoT) refers to a network of different physical objects including electronic devices, automobiles, buildings and other objects equipped with the IoT network component. The concept of IoT works on the principle of connecting various objects that can be assigned with an internet protocol (IP) address. Basic components of the IoT network such as sensing devices are based upon microcontroller platforms for connectivity and data collection.