The rise of the internet of things era has instigated an incessant demand for innovative products, which has placed pressure on systems designers to deliver breakthrough solutions consistently.
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IoT Microcontroller (MCU) market size is expected to reach USD 3,561.7 million by 2022.
Microcontroller miniaturization provides a platform for system designers that primarily include use-cases for new emerging applications. This growing web for connected devices encompasses smartphones, televisions, tablets, home appliances, gaming consoles, smart meters, security systems, and is anticipated to impact positively the IoT microcontroller demand.
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One key challenge that might withhold the proliferation of IoT MCU is power consumption. Almost all intelligent connected devices include billions of sensors, and some way or the other heavily rely on batteries for power.
These batteries are expensive, toxic to the environment and need high maintenance. Therefore, microcontroller suppliers focus on introducing energy harvesting solutions/designs that are expected to eliminate the need for fixed power sources in these devices.
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Security is another factor that may negatively impact demand for the internet of things applications, on account of which suppliers focus on developing out of the box solutions without complex network set-up and gateways and/ or VPNs (Virtual Private Network).
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The technology is witnessing advancements, and a few initial investments in this sector are paying off profitably, with the development of advanced wearable devices, smart thermostats, smart home systems,. The industry is poised for higher gains over the forecast period, with numerous innovations and commercialization of an array of products ranging from sensors in automobiles to advanced medical monitoring systems.
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