Global internet of thing microcontroller market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 10.2 % during the forecast period.
Global Internet of Thing Microcontroller Market
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Global internet of thing microcontroller market Definition
Microcontroller can be referred as a miniature computer that can be added to any physical space or objects to act as the brain of the device. The microcontrollers consist of multiple computer processors with programmable I/O peripherals and memory and are most widely used devices in household electronics and cell phones and many other electronics devices.
Global internet of thing microcontroller market Dynamics
The growing adoption of microcontroller units in several IoT applications is getting higher, which is having a positive impact on growth of the market. The rising adoption of microcontroller in building and home automation, wearable electronics, connected cars and many other IoT applications is expected to impel growth of the market during the forecast period. In addition, growing advancements in IoT technology, rising adoption of smart connected devices, increasing adoption rate of smart homes and growing market for industrial and home automation sector are the major driving factors behind the growth of the market.
However, high power consumption and high initial costs of IoT microcontrollers are the major restraining factors that could obstruct the growth of the market.
Global Internet of Thing Microcontroller Market: Segmentation Analysis
By product type, 32-bit MCU segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. A 32-bit microcontroller has 32-bit arithmetic logic units (ALUs), bus width and registers. These microcontrollers can provide reading sensors, data throughput and are used to send real-time sensor data over an internet such as IP network. A surge in the adoption of 32- bit MCUs in IoT applications to enable smooth Wi-Fi connectivity and to deliver low power consumption and high performance to many IoT devices is attributed to the growth of the market. Additionally, a number of microcontroller manufacturing companies such as Atmel, Microchip and Silicon Lab are continuously introducing these microcontrollers in the market for many IoT applications to improve energy efficiency and performance of the IoT connected devices, which is ultimately improving the growth of the market.
By application, consumer electronics segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. A surge in the adoption of IoT microcontrollers in consumer electronics devices such as computers, smart wearable, tablets, and mobile phones is attributed to the growth of the market. Alternatively, automotive segment is projected to witness high growth at a CAGR of XX% during the forecast period. Increasing adoption of IoT microcontrollers in connected cars is driving the growth of the market. Connected car technology is highly depended on antennas, embedded software, network of sensors, and other communication technologies, which is escalating the demand for IoT microcontrollers in the market.
Global Internet of Thing Microcontroller Market: Regional Analysis
Region-wise, North America dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The US and Canada are the major contributors behind the growth of the market in the region. The growth is attributed to the high adoption of wearable electronic devices, connected cars and smart connected devices.
Growing technological advancements, increasing investments in research and development activities in the field of IoT technology, rising adoption rate of smart homes along with smart connected appliances in the US residence are driving the growth of the market in NA region.
Global Internet of Thing Microcontroller Market: Key Development
• In 2016, Atmel Corporation launched a complete, ultra-low-power connected platform for cost-optimized applications for the wearable and Internet of Things (IoT) markets.
The objective of the report is to present a comprehensive analysis of the Global Internet of Thing Microcontroller Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Internet of Thing Microcontroller Market dynamics, structure by analyzing the market segments and projects the Global Internet of Thing Microcontroller Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Internet of Thing Microcontroller Market make the report investor’s guide.
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Global Internet of Thing Microcontroller Market, By Product Type
• 8-bit MCU
• 16-bit MCU
• 32-bit MCU
Global Internet of Thing Microcontroller Market, By Application
• Consumer Electronic
• Industrial Automation
• Medical Devices
• Smart Home Products
• Smart Grid
Global Internet of Thing Microcontroller Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Internet of Thing Microcontroller Market, Key Players
• ST Microelectronics
• Texas Instruments
• Fujitsu Ltd
• Microchip Technology Inc
• Maxim Integrated
• Silicon Lab
• ON Semiconductor
• Analog Devices
• Cypress Semiconductor
• Renesas Electronics
• ROHM Semiconductor
• Mitsubishi Electric
• NEC Electronics
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