Minuscule devices need to process huge amounts of data. Currently, data from such devices is offloaded to larger machines such as GPUs to be processed. However, this setup poses many issues such as exposure of human tissue to radiation, as well as distance/security issues. Thus, such data needs to be processed at the source.
FPGA and ASIC is the answer. However, robust solutions are still hard to develop here.
It may depend on the size you can afford to use. I would say that, yes, FPGAs and ASICs are some options. You can also use small IoT-oriented boards with multi-core ARM processors and GPUs (i.e. take a look at devices such as Nvidia Jetson), and there are some new devices called MPPAs (Massively Parallel Processor Array), which are many-core processors (i.e. see Kalray processors).
We managed to adapt our own CEP (Complex Event Processing) engine for one of these MPPAs, and it was interesting to parallelize some operations in OpenMP, but they're rather expensive.
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