IoT applications set to revive ‘stagnating’ MCU market
Internet of Things applications, such as connected cars, wearable electronics and building automation, are boosting demand for microcontrollers. According to the latest Microcontroller Market Tracker report from market analyst IHS, sales of MCUs into IoT applications is expected to grow from $1.7billion in 2014 to $2.8bn in 2019. By contrast, the overall MCU market is expected to grow at 4% a year until 2019.
“What some still consider to be only hype surrounding emerging IoT trends has already begun disrupting the MCU market,” said Tom Hackenberg, senior analyst for IHS Technology. “In fact, without the influence of IoT application growth, the MCU market is predicted to stagnate by the end of the decade.”
However, Hackenberg noted the industry’s challenge is to quantify this new opportunity. “IoT is a conceptual trend, not a device, application or even a new feature,” he said. “Suppliers must therefore focus on their target markets and concentrate on the specific values they bring to these markets.”
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