IoT Microcontroller Market Growth, Segments, Market Profits and Trends by Forecast to 2027 | COVID-19 Effects

[Snehal Kale]

IoT Microcontroller Market – Overview

The global IoT microcontroller market is growing rapidly, witnessing continually rising sales. The market growth attributes to the rapid technological advances in vehicle connectivity and interactive safety system and the burgeoning automotive industry worldwide. Besides, increasing demand for smart consumer electronic devices such as smartphones, tablets, televisions, and smartwatches create substantial market value.  

Moreover, the strong presence of major smart device manufacturers escalates the market growth. According to Market Research Future (MRFR), the global IoT Microcontroller Market is projected to grow at 12% CAGR throughout the assessment period (2017-2023). IoT microcontroller comparisons include a hypervisor software components embedded in the microcontroller’s protected area, handling boot processes both for air upgrades and cloud communications.

Additionally, the rising sales of electronics goods and the proliferation of IoT devices, sensors, and actuators drive the growth of the market. Also, spurring growth in the MCU market with the increasing miniaturization of IC positively impacts the growth of the market. Moreover, diverse application areas of IoT microcontroller in industrial automation, consumer electronics, automotive, and telecom sectors boost the market growth.

Additionally, the increasing demand for IoT microcontroller from the burgeoning end-use industries such as medical devices, telecom, and automotive influences the market growth. Increasing uptake of the device in consumer electronics products offers ample scope of growth for the market. Over recent years, the demand for MCUs to improve operations of electronic devices has been growing continually. High automation in the automotive sector substantiates the market demand.

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Conversely, the lack of technical expertise is the major factor forecasted to impede the growth of the market. Nevertheless, the consumer electronics sector would support market growth throughout the assessment period, demonstrating the largest adoption of the IoT microcontroller. Also, increasing deployments of the smart meter in residential and commercial sectors for close monitoring of the total energy consumption fosters the growth of the market.

IoT Microcontrollers Marketing: Segmental Analysis

The global IoT microcontroller market has been segmented on the basis of product type and application.

By Product Type, the global IoT microcontroller market has been segmented into 8 bit, 16 bit, and 32 bit IoT microcontrollers.
Based On Application, the global IoT microcontroller market has been segmented into consumer electronics, automotive, industries, healthcare, and others.

Key Players:

Some of the prominent players in the global Iot Microcontroller Market are Atmel (U.S), Freescale (U.S.), Infineon (Germany), ST Microelectronics (Switzerland), Texas Instruments (TXN) (U.S), Fujitsu Ltd (Japan), Microchip Technology (MCHP) (U.S.), Samsung Group (South Korea), Intel Corporation (U.S.) are among others.

Global IoT Microcontrollers Market: Regional Outlook

By region, the global IoT microcontroller market has been segmented into Asia Pacific, North America, Europe, and the Rest of the World.

North America has the largest share in the global market for IoT microcontrollers due to growing IT requirements and growing demand from the smart home segment. Rapid technological advances in the smart devices segment are accelerating market growth in the North American region. The Asia Pacific market is expanding with the highest CAGR due to increasing developments in the automotive industry linked with vehicle connectivity and interactive safety systems, which are expected to leverage the demand of the IoT microcontroller market. In addition, growing demand for various consumer electronic devices such as smartphones, tablets, smart TVs, and smartwatches, among others, is also expected to fuel demand for microcontrollers in the region. In addition, the involvement of major smart device manufacturers is boosting the growth of the market in the region.

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