In the past few years, the concept of the internet of things (IoT) and connected devices such as wireless sensors, smart meters, home automation systems, and wearable devices have witnessed strong penetration. The decline in the prices of sensors coupled with the rising wireless connectivity has led to the emergence of ‘smart devices capable of communicating without human intervention. Nevertheless, with the rise in the adoption of connected devices, the data (generated from the network) processing becomes a challenging task.
IoT microcontrollers can be referred to as the heart of any wireless node or electronic device in the IoT network. These microcontrollers are designed to seamlessly process the data and interact with the network. IoT microcontrollers are manufactured based on the requirement of the IoT application. Microcontroller having 32-bit configuration possesses larger RAM and flash memory sizes. This enhances the processing capacity of the microcontroller, thereby eliminating the need for an additional processor in the system.
The demand for IoT microcontrollers is mainly driven by the rising adoption of IoT services worldwide. Another major factor fueling the market growth is the growing advancements in consumer electronic devices. The number of connected devices worldwide is expected to grow exponentially in the coming years. This is another factor pushing the IoT microcontroller market.
The “Global Internet of Things (IoT) Microcontroller Market- Growth, Share, Opportunities and Competitive Analysis, 2016 – 2023” offers strategic insights into the global IoT and microcontroller market along with the market size and estimates for the duration of 2014 to 2023. The said research study covers an in-depth analysis of multiple market segments based on product types, applications, and cross-sectional studies across different geographies. The study covers the comparative analysis of different segments for 2014 & 2023. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.
To help strategic decision makers, the report also includes competitive profiling of the leading IoT solution and services vendors, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Some of the major players profiled in the report are ARM Holdings Plc., Texas Instruments, Inc., Intel Corporation, Qualcomm, Inc., Atmel Corporation (Microchip Technology, Inc.), Freescale Semiconductor, Inc. (NXP Semiconductors NV), Broadcom Corporation, Infineon Technologies, Silicon Laboratories, Inc., STMicroelectronics and others. Other in-depth analysis provided in the report includes:
Current and future market trends to justify the forthcoming attractive markets within the IoT and microcontrollers industry
Market fuelers, market impediments, and their impact on the market growth
In-depth competitive environment analysis
Trailing 2-Year market size data (2014 – 2015)
SRC (Segment-Region-Country) Analysis
Overall, the research study provides:
A holistic view of the global IoT microcontrollers market.
Offering market size and estimates for the period from 2016 to 2023.
Keeping in mind the above-mentioned factors.
Based on application, the Internet of Things (IoT) microcontrollers market is segmented into the following categories:
Consumer Electronics
Industrial Automation
Smart Grids
Smart Cities & Home Automation
Automotive
Healthcare
The global Internet of Things microcontrollers market was dominated by the consumer electronics segment as of 2014. The segment primarily comprises mobile devices (smartphones, tablets), wearable devices, and smart consumer appliances. With the rising adoption of smart appliances worldwide, the segment is estimated to continue strong growth throughout the forecast period. Advancement in connected home appliances is another major factor fueling the consumer electronics segment.
The smart cities & home automation, and automotive segments are expected to register strong growth in the IoT microcontroller market in the coming years. With the rising trend of connected cars, manufacturers are increasingly focusing on providing microcontrollers for automotive IoT applications. Similarly, due to increasing investment in smart homes and smart cities projects worldwide, the smart cities & home automation segment is anticipated to register the second highest growth in the global IoT microcontrollers market.
The healthcare segment is projected to register the highest growth in the IoT market. The most significant fueling the adoption of IoT solutions & services in the healthcare segment is the rising investment in healthcare IT infrastructure worldwide. IoT in the healthcare sector (especially medical devices) aims to improve operational efficiency and patient care. As a result, the segment is estimated to witness the highest adoption rate for IoT solutions in the coming years.
The global Internet of Things (IoT) microcontrollers market is segmented as per the following regions and countries.
North America
U.S.
Canada
Europe
Germany
France
Italy
U.K.
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC Countries
South Africa
Rest of Middle East and Africa
In 2014, the global IoT microcontroller market was dominated by the North American region contributing to over one-third of the total market revenue. Although the Asia Pacific region leads the overall microcontroller market, the strong penetration of IoT services is a major factor fueling the IoT microcontroller market in North America. Another significant factor is the strong penetration of smart appliances and investment in projects such as smart homes & smart cities, and smart grids. Additionally, due to many IoT microcontroller vendors in the region, the segment is expected to show steady growth throughout the forecast period.
The Asia Pacific is expected to emerge as the fastest-growing region for the IoT market during the forecast period. The growth is majorly expected from Japan, China, and South Korea. These countries have strong internet infrastructure coupled with penetration of smart appliances, thereby boosting the IoT microcontroller market growth. Furthermore, China is among the smart grid sector's highest investments. Additionally, smart city projects in the Asia Pacific region (China, Japan, South Korea, and India) are increasing significantly. As a result, the IoT microcontroller market is predicted to witness strong growth during the forecast period.
Frequently asked questions :
The market for Internet Of Things (IOT) Microcontrollers Market is expected to reach US$ XX Bn in 2023.
The Internet Of Things (IOT) Microcontrollers Market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted from 2016-2023.
The base year of this report is 2021.
ARM Holdings Plc., Texas Instruments, Inc.,Intel Corporation, Qualcomm, Inc., are some of the major players in the global market.
