Global IoT Microcontroller Market to 2028: Players Include Broadcom, Holtek Semiconductor, Infineon Technologies, Microchip Technology and Nuvoton Technology

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Mar 30, 2023, 18:30 ET

DUBLIN, March 30, 2023 /PRNewswire/ -- The "Global IoT Microcontroller Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 By Product, Application, End-users, and Region" report has been added to ResearchAndMarkets.com's offering.

The IoT Microcontroller Market was valued at US$ 2 bn in 2017. It is estimated to reach a market size of ~US$ 3 bn by 2022 and is projected to reach ~US$ 6 bn by 2028.

Key Players

Broadcom
Holtek Semiconductor Inc
Infineon Technologies
Microchip Technology Inc
Nuvoton Technology Corporation
NXP Semiconductors
STMicroelectronics
Renesas Electronics Corporation
Silicon Laboratories
Texas Instruments Incorporated

It is expected to record a CAGR of ~12% during the forecast period, due to the increasing number of IoT connections among consumer and enterprise sectors and the need for low-power, high-performance, and energy-efficient connected products.

Development of internet connectivity and IT infrastructure in technologically developing economies and microcontroller unit miniaturization is expected to lead to the growth of the IoT Microcontroller Market during the forecast period.

The increasing demand for low-cost, smart wireless sensor networks and the development of IT infrastructure in technologically developing countries are anticipated to have a major impact on market growth. Further, the growing number of IoT connections and increasing demand for low-power, energy-efficient connected products are other salient factors boosting its demand and growth.

Moreover, the growing popularity of IoT is expected to provide a significant boost to the market in the near future. In the current scenario, IoT has witnessed a wide range of applications including industrial automation, smart appliances, smart grids, and smart cities, which is anticipated to fuel the market growth significantly during the forecast period.

In addition, the rising popularity of fitness apps and increasing awareness about physical fitness in emerging countries such as; India, China, and Indonesia are likely to drive the adoption of wearable technology, thereby expanding the IoT market size during the forecast period.

Manufacturers' failure in establishing advanced IoT microcontrollers and the high-power consumption and energy efficiency of IoT devices creates challenges for the growth of the IoT Microcontroller Market.

The manufacturers of IoT microcontrollers engage in extensive research and innovation to develop advanced systems. However, the substantial research and innovation costs associated with the IoT microcontroller development include its integration with the changing structural landscape of IoT devices.

The IoT market is flourishing, and as a result, the majority of enterprises are approaching the IoT microcontroller market. However, the industry faces significant challenges in profitability and establishing new technology in the market. In addition, a considerable number of startups in the sector are projected to enter the market, increasing the competition.

COVID-19 facilitated growth in electronic equipment due to remote work. The COVID-19 pandemic witnessed a boost in remote working electronic equipment, which shifted the focus of semiconductor manufacturing units to produce more equipment for the same.

This turned the focus from other vital industries to count on microcontrollers and semiconductor chips, like automotive and industrial automation. However, the disruption in the supply chain and shortage of semiconductor chips posed challenges. The IoT industry is changing rapidly the supply chain allocation to revive the companies affected by COVID-19.

Scope of the Report

The Global IoT Microcontroller Market is segmented by product, applications, and end-user. In addition, the report also covers market size and forecasts for North America, Asia Pacific, Europe, and LAMEA IoT Microcontroller market. The revenue used to size and forecast the market for each segment is US$ billion.

By Products

8 Bits
16 Bits
32 Bits

By Application

Industrial Automation
Smart Homes
Consumer Electronics
Smartphones
Wearables
Others
Others

By End-User

Aerospace and Defense
Consumer Electronics and Home Appliance
Automotive
Industrial
Healthcare
Data Processing and Communication
Other End-user Industries

By Geography

North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South KoreaRest of Asia Pacific
LAMEA
Latin America
Middle East
Africa

For more information about this report visit https://www.researchandmarkets.com/r/bwi93v

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