IOT Microcontroller Market is forecast to grow at a CAGR of 11.8% during 2015-2022

According to a recently published report, the IOT Microcontroller (MCU) Market is estimated to account for around $1.8 billion by 2022, and is expected to grow at the CAGR of 11.8% during 2015-2022. The segmentation of IoT microcontroller (MCU) market is based on application, type and geography. The report on IoT Microcontroller (MCU) Market Forecast 2015-2022 (by application type and geography) provides detailed summary as well as predictive analysis of the market.

The rapidly increasing internet of things market is turning fortunes for IoT microcontroller market globally. The rise of IoT microcontroller market is tied to the growth of IoT field as microcontroller units are used in various IoT applications. The market of microcontroller units used in various IoT applications such as wearable electronics, smart cars, building automation, etc. was worth $1.7 billion in 2014; and it is expected to expand at 11% compounded annual growth rate between 2014 and 2019.However the overall market is likely to rise at 5% through 2019.