The growing application of IoT across different industry propel the worldwide demand for IoT microcontroller forward. This is why the global IoT microcontroller market will reach $13,898.0 million value by 2030. Moreover, the requirement for connected devices including household appliances, tablets, TV, security systems, gaming consoles, and smartphones, will grow, therefore driving the market.
Furthermore, the fast smart meters installation all around numerous residential and commercial areas is predicted to influence the microcontroller’s demand to monitor global consumption of electrical energy and inform the utilities of the information, for purposes of automated billing.
The growing trend toward automation across many industries is another factor that will fuel IoT microcontroller market expansion in the near future. Over the forecast period, there is a decent possibility that the need for microcontrollers will increase due to technological advancements in IoT applications that will provide customers new and improved smart devices.
The development of wireless devices, computer-embedded technologies, and data analytics methods including big data have led to considerable changes in the healthcare sector in recent years. IoT technologies are also changing clinical research by making it possible to analyze vast amounts of intricate medical data such as genetic data, metagenomics, and bioinformatics.
The acceptance of IoT and Wi-Fi as well as funding in healthcare technology are expected to present profitable opportunities in the industry, hastening the growth of the IoT microcontroller market. For example, by 2030 and 2050, the worldwide population of adults 60 and older will have increased by almost 16% and 22%, respectively. The burden of chronic illnesses, which now affects six out of ten Americans annually, is rising as a result, fueling the need for patient monitoring systems in the U. S.
