Transparency Market Research delivers key insights on the global GPIO expanders market. In terms of revenue, the GPIO expanders market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors regarding which, TMR offers thorough insights and forecasts in its report on the GPIO expanders market.
A GPIO expander is a component that offers a designer the ability to implement additional outputs and inputs on a microcontroller and microprocessor system. These expanders have advanced drive capability than the I/O on a microcontroller and microprocessor system. This allows them to drive devices with higher load such as LEDs. Moreover, GPIO expanders have an efficient Data Bus interface to decrease the I/O requirement. They also allow the I/O to be physically located on a system in an altered location from the processor, thereby improving signal integrity.
GPIO Expanders Market: Dynamics
The global GPIO expanders market is witnessing significant growth, owing to increased demand for small wearable and mobile devices. Small wearable and mobile devices are, by design, reliant on battery power. Hence, manufacturers are focusing on offering GPIO expanders with features such as reduced energy consumption and system overhead as well as improved product development cycles. Moreover, manufacturers are offering tools such as I2C demonstration boards to aid evaluation, analysis, testing, and debug capabilities as well as development projects. These boards consist of numerous I2C devices and they can be connected via USB cables to desktop or laptop computers for further processing and development of electronic components. The aforementioned advantages offered by GPIO expanders are expected to boost the growth of the GPIO expanders market during the forecast period.
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GPIO Expanders Market: Prominent Regions
North America is a dominant region in the global GPIO expanders market. Growth of this market in North America can be attributed to high investments in research and development and a large number of manufacturers operating in the region. Manufacturers of GPIO are focusing on the provision to tailor outputs as required, configuring inputs and controlling identity interrupt, along with low power consumption that extends battery life of wearable and small electronic devices, and enhances user satisfaction. This is likely to boost the GPIO expanders market in North America in the near future. This market in Asia Pacific is estimated to witness significant growth during the forecast period. This growth can be ascribed to increasing sales of smartphones, tablets, and other mobile devices in the region. Sales of smartphones are increasing in developing countries of the region such as India, Indonesia, and Malaysia. Additionally, surging demand for smartphones and mobile devices is expected to drive the market for GPIO expanders during the forecast period.