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IoT MCU Market To Reach USD 4.61 Billion By 2026

The global IoT MCU Market is forecasted to reach USD 4.61 Billion by 2026, according to a new report by Reports and Data. The major factors attributed to the growth of the market are the rising demand for automation across end-users industries, growth in demand for wearable healthcare devices and other consumer electronics and advancement of IoT.

APAC is expected to hold the largest market and is forecasted to reach USD 1.61 Billion in 2026, at the highest CAGR of 15.28% during the forecast period followed by North America. This is mainly accredited to advancement in technology innovation and increasing adoption of the automation technologies in various industry verticals. Major application for industrial control and factory automation in Asia Pacific are oil & gas, semiconductor, electronics, automotive, chemicals, water and food. China is one of the primary players of this region for automation market. China has been working on developing more innovative industrial practice by implementing automated technologies in manufacturing sector.

Further key findings from the report suggest

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