IoT Microcontroller Market - Forecast(2024 - 2030)
IoT Microcontroller Market Overview
The IoT Microcontroller Market is
currently valued at $4.3 billion in 2021 and is expected to reach a valuation
of $13.5 billion by 2027 growing at a CAGR of 8.8%. A microcontroller is a
small computing system on chip and consists of processor, random access memory,
peripherals and others. The increasing
number of smart home products in developing countries increased the adoption of
connected devices such as smartphones and laptops. And the rising preference for
embedded Non-Volatile Memory (eNVM) solutions over System-in-Package (SiP) in
high-end applications such as industrial automation, smart Grid, and smart
transportation are driving the growth of the IoT Microcontroller Market. The rising incomes
of citizens in emerging economies along with the changing lifestyle and
consumer behavior, have led to rapid growth in the Consumer Electronics sector,
especially in the emerging economies. The rapid technological advancement in the
Internet of Things is being driven by developments in similar areas such as
edge computing, AI, and others. The introduction of 5G which will lead to much
faster speeds and enhanced connectivity will provide a big boost to IoT-enabled
devices which will help expand this market. In June 2021, Arm launched an
open-source initiative to encompass elements of its abstraction software for IoT Microcontroller applications. The new Open-CMSIS-Pack aims to help software engineers reuse
command-line development tools and programming code across multiple
microcontroller-based applications. Such rapid technological advancements
coupled with economic growth in developing countries will positively impact the
growth of the market in coming years.
Report Coverage
By Components:
Processor, Sensor,
Connectivity IC, Memory Device, Logic Device, Others.
By Application Type: Healthcare, Consumer Electronics, Industrial
sectors, Automotive sector, BFSI, Retail, Automation, and Others.
By Bit:
8 Bit, 16 Bit, and 32
Bit.
By Memory:
External Memory
Microcontroller, Embedded Memory Microcontroller
By Geography: North America (U.S, Canada,
Mexico), Europe (U.K, Germany, France, Italy, Spain, Others), APAC (China,
Japan, South Korea, India, Australia, Others), South America (Brazil,
Argentina, Others) and RoW (Middle East, Africa)
Key Takeaways
- 32 bit microcontrollers will be the fastest growing segment with a CAGR of 9.22% in the IoT Microcontroller Market during 2022-2027 due to greater processing power, improved RAM size and power efficiency which will encourage in their widespread adoption.
- APAC region holds the largest market share at 30% due to rapid economic growth, increased adoption of connected devices such as smartphones and tablets, and a massive increase in the number of smart homes as these countries transition from low income to middle-income economies.
- Embedded Memory microcontroller will be the fastest growing segment by memory in this market due to multi-functionality, low cost, and rising number of micro and nano devices.
IoT Microcontroller Market Value Share, By Geography 2021, (%)
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IoT Microcontroller Market Segment Analysis- By Product Type
The IoT Microcontroller Market can be classified into many segments according to bit such as 8Bit,16Bit and 32Bit. Among them, 32 Bit microcontrollers are projected to have the fastest growth at a CAGR of 9.22% in the forecast period of 2022-2027. Improved RAM size, high processing power and power efficiency coupled with enhanced applications in emerging sectors such as IoT, automation and healthcare are some of the major factors that are driving the growth of this market. The integration of advanced features such as greater memory, ability to connect to multiple modes such as Ethernet, CAN, USB, Modbus and others. The factors such as rapid technological advancement, growth of end-user industries and changing consumer spending patterns with rising incomes will accelerate the growth of the market. In February 2022, India announced that it would develop a 32 bit RISC-V microcontrollers with VEGA processes which will have an open architecture. This is being developed by Centre for Development of Advanced Computing with funding from Ministry of Electronics and Information technology. Such developments will positively affect the growth of this market.
IoT Microcontroller Market Segment Analysis- By Memory
The Embedded Memory Microcontroller will be the fastest growing segment in this sector which will grow at a CAGR of 9.38% in the forecast period. Increased efficiency, absence of human intervention and low cost are some of the major factors that are driving the growth of the IoT Microcontroller Market. The increased sale of micro and nano devices with enhanced performance have drastically increased the demand for embedded memory microcontrollers that enable consumers to have a better experience and can be used under multiple circumstances for various functions. The increased propensity among the youth towards the purchase of connected devices coupled with emerging technologies such as IoT and AI and their application across various sectors such as retail, inventory management, health care and others had also positively impacted the growth of this market. The increasing adoption of micro and nano monitoring devices among health professionals to better diagnose and understand the malaise will rapidly accelerate the expansion of this market in the forecast period.
IoT
Microcontroller Market Segment Analysis- By Geography
The IoT Microcontroller Market in the APAC region will account for the highest share at 30% in 2021. The factors that are propelling the growth of the IoT Microcontroller Market in APAC are rising demand of smart homes in emerging economies, increased sales of connected devices such as smartphones and tablets, and changing customer preferences. Rising automation, technological advancements across IoT applications, and rising private consumption especially in the automotive and consumer electronics, providing a massive boost to the growth of this market in this region. In March 2022, Reliance entered into a Joint Venture with Sanmina to create an electronics manufacturing facility which will result in drastic price reduction of microcontrollers in the coming years. Such developments will propel the market growth.
IoT Microcontroller Market Drivers
Rapid Adoption of Connected Devices: Increased affordability of connected consumer electronics, rising automotive sales, and industrial automation leading to expansion of IoT Microcontroller Market
The rapid growth of sales of connected devices such as smartphones and tablets, surging incomes, and rising sales of automotive vehicles are the main driving factors behind the rapid expansion of the IoT Microcontroller Market globally. The drastic reduction in manufacturing cost of microcontrollers , growing adoption of nano devices equipped with audio and video functionalities under various circumstances and increase in industrial automation are the key factors that are driving the growth of the market. Apart from this, the increasing number of multi-functional online banking kiosks among emerging economies, easy access to credit leading to higher discretionary spending and inventory management have led to the rapid expansion of the IoT Microcontroller Market. . The factors such as rising population, rapid economic development, and increased affordability of kitchen appliances are the main factors that will drive the growth of this market.
Integration of advanced technologies such as Convection Heating, electronic controls and efficient fans resulting in widespread adoption of IoT Microcontroller Systems
The rapid pace
of technological advancements in the microcontroller market coupled with the
decrease in production costs has led to an exponential increase in the adoption
of IoT Microcontrollers market across the globe, especially among the emerging
economies. One of the most important advancements to occur in the industry was the
development of high-precision analog peripherals from ADCs, op amps and DACs,
which drastically reduce discrete analog components.. Another important
technological breakthrough has been the integration of Real-time control for
high level control and actuation capabilities. which drastically reduces human
involvement and streamlines the product manufacturing process in industry. Such
developments will lead to the widespread adoption of IoT Microcontroller
systems and accelerate the expansion of the market in coming years.
IoT Microcontroller Market Challenges
High Costs and Technological Constraints:
The high initial
cost of installation and high initial power consumption are the major
challenges that are impeding the growth of this industry. The cost of IoT
Microcontroller ranges from $20 to $100 depending upon the specifications which
becomes an insurmountable barrier in the case of lower-income families in rural
areas, and others and prevents widespread adoption of such devices. The high
initial cost coupled with high power input costs also prevent the widespread
integration of these systems into low-end products. The rising trend among
youngsters to splurge on new technology coupled with COVID will adversely affect
the growth of this market.
IoT Microcontroller Market Landscape
Product
launches, collaborations, and R&D activities are key strategies adopted by
players in the IoT Microcontroller System market. The top 10 companies in the IoT Microcontroller Market are:
- Analog Devices Inc
- Microchip Technology Inc
- PANASONIC CORPORATION
- RENESAS ELECTRONICS CORPORATION
- NXP Semiconductor
- S.T. Microelectronics
- Infineon Technologies
- Texas Instruments
- Silicon Laboratories
- Zilong
Acquisitions/Technology
Launches/Partnerships
- In April 2022, Microchip launched a series of five new product families and over 60 new individual devices equipped with Microchip’s 8-bit PIC and AVR microcontroller (MCU) which will enhance customer experience and encourage widespread adoption thereby expanding the market.
- In March 2022, Analog Devices, Inc. (ADI) recently released a low-power, high-performance analog front end (AFE) built for wearable bioimpedance monitoring which will enable physicians to diagnose with greater accuracy. Such developments will positively impact the growth of this market.
- In May 2022, Renesas Electronics announced an integrated automotive ECU virtualization platform that enables designers to integrate multiple applications into a single ECU that are safely and securely separated from each other to avoid interference which will enable customers to adopt new electrical-electronic (E/E) architectures using MCU-based zone ECUs supporting multiple logical ECUs on one physical ECU. Such technological developments will result in rapid expansion of market.
Relevant Reports
Report Code: ESR 0708
Report Code: ATR 0087
Report Code: ESR 0114
For more Electronics Market reports, please click here
LIST OF TABLES
1.Global Iot Mcu Product Outlook Market 2023-2030 ($M)1.1 8-Bit Market 2023-2030 ($M) - Global Industry Research
1.2 16-Bit Market 2023-2030 ($M) - Global Industry Research
1.3 32-Bit Market 2023-2030 ($M) - Global Industry Research
2.Global Iot Mcu Application Outlook Market 2023-2030 ($M)
2.1 Industrial Automation Market 2023-2030 ($M) - Global Industry Research
2.2 Smart Home Market 2023-2030 ($M) - Global Industry Research
2.3 Consumer Electronics Market 2023-2030 ($M) - Global Industry Research
2.3.1 Home Appliance Market 2023-2030 ($M)
2.3.2 Wearable Market 2023-2030 ($M)
2.3.3 Smartphones Market 2023-2030 ($M)
3.Global Competitive Landscape Market 2023-2030 ($M)
3.1 Atmel Corporation Market 2023-2030 ($M) - Global Industry Research
3.2 Broadcom Corporation Market 2023-2030 ($M) - Global Industry Research
3.3 Espressif System Pte. Ltd Market 2023-2030 ($M) - Global Industry Research
3.4 Holtek Semiconductor Market 2023-2030 ($M) - Global Industry Research
3.5 Infineon Technology Market 2023-2030 ($M) - Global Industry Research
3.6 Microchip Technology Inc Market 2023-2030 ($M) - Global Industry Research
3.7 Nuvoton Technology Corporation Market 2023-2030 ($M) - Global Industry Research
3.8 Nxp Semiconductor N.V Market 2023-2030 ($M) - Global Industry Research
3.9 Silicon Laboratories, Inc Market 2023-2030 ($M) - Global Industry Research
3.10 Stmicroelectronics Market 2023-2030 ($M) - Global Industry Research
3.11 Texas Instrument Market 2023-2030 ($M) - Global Industry Research
4.Global Iot Mcu Product Outlook Market 2023-2030 (Volume/Units)
4.1 8-Bit Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 16-Bit Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 32-Bit Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global Iot Mcu Application Outlook Market 2023-2030 (Volume/Units)
5.1 Industrial Automation Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Smart Home Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 Consumer Electronics Market 2023-2030 (Volume/Units) - Global Industry Research
5.3.1 Home Appliance Market 2023-2030 (Volume/Units)
5.3.2 Wearable Market 2023-2030 (Volume/Units)
5.3.3 Smartphones Market 2023-2030 (Volume/Units)
6.Global Competitive Landscape Market 2023-2030 (Volume/Units)
6.1 Atmel Corporation Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Broadcom Corporation Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Espressif System Pte. Ltd Market 2023-2030 (Volume/Units) - Global Industry Research
6.4 Holtek Semiconductor Market 2023-2030 (Volume/Units) - Global Industry Research
6.5 Infineon Technology Market 2023-2030 (Volume/Units) - Global Industry Research
6.6 Microchip Technology Inc Market 2023-2030 (Volume/Units) - Global Industry Research
6.7 Nuvoton Technology Corporation Market 2023-2030 (Volume/Units) - Global Industry Research
6.8 Nxp Semiconductor N.V Market 2023-2030 (Volume/Units) - Global Industry Research
6.9 Silicon Laboratories, Inc Market 2023-2030 (Volume/Units) - Global Industry Research
6.10 Stmicroelectronics Market 2023-2030 (Volume/Units) - Global Industry Research
6.11 Texas Instrument Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Iot Mcu Product Outlook Market 2023-2030 ($M)
7.1 8-Bit Market 2023-2030 ($M) - Regional Industry Research
7.2 16-Bit Market 2023-2030 ($M) - Regional Industry Research
7.3 32-Bit Market 2023-2030 ($M) - Regional Industry Research
8.North America Iot Mcu Application Outlook Market 2023-2030 ($M)
8.1 Industrial Automation Market 2023-2030 ($M) - Regional Industry Research
8.2 Smart Home Market 2023-2030 ($M) - Regional Industry Research
8.3 Consumer Electronics Market 2023-2030 ($M) - Regional Industry Research
8.3.1 Home Appliance Market 2023-2030 ($M)
8.3.2 Wearable Market 2023-2030 ($M)
8.3.3 Smartphones Market 2023-2030 ($M)
9.North America Competitive Landscape Market 2023-2030 ($M)
9.1 Atmel Corporation Market 2023-2030 ($M) - Regional Industry Research
9.2 Broadcom Corporation Market 2023-2030 ($M) - Regional Industry Research
9.3 Espressif System Pte. Ltd Market 2023-2030 ($M) - Regional Industry Research
9.4 Holtek Semiconductor Market 2023-2030 ($M) - Regional Industry Research
9.5 Infineon Technology Market 2023-2030 ($M) - Regional Industry Research
9.6 Microchip Technology Inc Market 2023-2030 ($M) - Regional Industry Research
9.7 Nuvoton Technology Corporation Market 2023-2030 ($M) - Regional Industry Research
9.8 Nxp Semiconductor N.V Market 2023-2030 ($M) - Regional Industry Research
9.9 Silicon Laboratories, Inc Market 2023-2030 ($M) - Regional Industry Research
9.10 Stmicroelectronics Market 2023-2030 ($M) - Regional Industry Research
9.11 Texas Instrument Market 2023-2030 ($M) - Regional Industry Research
10.South America Iot Mcu Product Outlook Market 2023-2030 ($M)
10.1 8-Bit Market 2023-2030 ($M) - Regional Industry Research
10.2 16-Bit Market 2023-2030 ($M) - Regional Industry Research
10.3 32-Bit Market 2023-2030 ($M) - Regional Industry Research
11.South America Iot Mcu Application Outlook Market 2023-2030 ($M)
11.1 Industrial Automation Market 2023-2030 ($M) - Regional Industry Research
11.2 Smart Home Market 2023-2030 ($M) - Regional Industry Research
11.3 Consumer Electronics Market 2023-2030 ($M) - Regional Industry Research
11.3.1 Home Appliance Market 2023-2030 ($M)
11.3.2 Wearable Market 2023-2030 ($M)
11.3.3 Smartphones Market 2023-2030 ($M)
12.South America Competitive Landscape Market 2023-2030 ($M)
12.1 Atmel Corporation Market 2023-2030 ($M) - Regional Industry Research
12.2 Broadcom Corporation Market 2023-2030 ($M) - Regional Industry Research
12.3 Espressif System Pte. Ltd Market 2023-2030 ($M) - Regional Industry Research
12.4 Holtek Semiconductor Market 2023-2030 ($M) - Regional Industry Research
12.5 Infineon Technology Market 2023-2030 ($M) - Regional Industry Research
12.6 Microchip Technology Inc Market 2023-2030 ($M) - Regional Industry Research
12.7 Nuvoton Technology Corporation Market 2023-2030 ($M) - Regional Industry Research
12.8 Nxp Semiconductor N.V Market 2023-2030 ($M) - Regional Industry Research
12.9 Silicon Laboratories, Inc Market 2023-2030 ($M) - Regional Industry Research
12.10 Stmicroelectronics Market 2023-2030 ($M) - Regional Industry Research
12.11 Texas Instrument Market 2023-2030 ($M) - Regional Industry Research
13.Europe Iot Mcu Product Outlook Market 2023-2030 ($M)
13.1 8-Bit Market 2023-2030 ($M) - Regional Industry Research
13.2 16-Bit Market 2023-2030 ($M) - Regional Industry Research
13.3 32-Bit Market 2023-2030 ($M) - Regional Industry Research
14.Europe Iot Mcu Application Outlook Market 2023-2030 ($M)
14.1 Industrial Automation Market 2023-2030 ($M) - Regional Industry Research
14.2 Smart Home Market 2023-2030 ($M) - Regional Industry Research
14.3 Consumer Electronics Market 2023-2030 ($M) - Regional Industry Research
14.3.1 Home Appliance Market 2023-2030 ($M)
14.3.2 Wearable Market 2023-2030 ($M)
14.3.3 Smartphones Market 2023-2030 ($M)
15.Europe Competitive Landscape Market 2023-2030 ($M)
15.1 Atmel Corporation Market 2023-2030 ($M) - Regional Industry Research
15.2 Broadcom Corporation Market 2023-2030 ($M) - Regional Industry Research
15.3 Espressif System Pte. Ltd Market 2023-2030 ($M) - Regional Industry Research
15.4 Holtek Semiconductor Market 2023-2030 ($M) - Regional Industry Research
15.5 Infineon Technology Market 2023-2030 ($M) - Regional Industry Research
15.6 Microchip Technology Inc Market 2023-2030 ($M) - Regional Industry Research
15.7 Nuvoton Technology Corporation Market 2023-2030 ($M) - Regional Industry Research
15.8 Nxp Semiconductor N.V Market 2023-2030 ($M) - Regional Industry Research
15.9 Silicon Laboratories, Inc Market 2023-2030 ($M) - Regional Industry Research
15.10 Stmicroelectronics Market 2023-2030 ($M) - Regional Industry Research
15.11 Texas Instrument Market 2023-2030 ($M) - Regional Industry Research
16.APAC Iot Mcu Product Outlook Market 2023-2030 ($M)
16.1 8-Bit Market 2023-2030 ($M) - Regional Industry Research
16.2 16-Bit Market 2023-2030 ($M) - Regional Industry Research
16.3 32-Bit Market 2023-2030 ($M) - Regional Industry Research
17.APAC Iot Mcu Application Outlook Market 2023-2030 ($M)
17.1 Industrial Automation Market 2023-2030 ($M) - Regional Industry Research
17.2 Smart Home Market 2023-2030 ($M) - Regional Industry Research
17.3 Consumer Electronics Market 2023-2030 ($M) - Regional Industry Research
17.3.1 Home Appliance Market 2023-2030 ($M)
17.3.2 Wearable Market 2023-2030 ($M)
17.3.3 Smartphones Market 2023-2030 ($M)
18.APAC Competitive Landscape Market 2023-2030 ($M)
18.1 Atmel Corporation Market 2023-2030 ($M) - Regional Industry Research
18.2 Broadcom Corporation Market 2023-2030 ($M) - Regional Industry Research
18.3 Espressif System Pte. Ltd Market 2023-2030 ($M) - Regional Industry Research
18.4 Holtek Semiconductor Market 2023-2030 ($M) - Regional Industry Research
18.5 Infineon Technology Market 2023-2030 ($M) - Regional Industry Research
18.6 Microchip Technology Inc Market 2023-2030 ($M) - Regional Industry Research
18.7 Nuvoton Technology Corporation Market 2023-2030 ($M) - Regional Industry Research
18.8 Nxp Semiconductor N.V Market 2023-2030 ($M) - Regional Industry Research
18.9 Silicon Laboratories, Inc Market 2023-2030 ($M) - Regional Industry Research
18.10 Stmicroelectronics Market 2023-2030 ($M) - Regional Industry Research
18.11 Texas Instrument Market 2023-2030 ($M) - Regional Industry Research
19.MENA Iot Mcu Product Outlook Market 2023-2030 ($M)
19.1 8-Bit Market 2023-2030 ($M) - Regional Industry Research
19.2 16-Bit Market 2023-2030 ($M) - Regional Industry Research
19.3 32-Bit Market 2023-2030 ($M) - Regional Industry Research
20.MENA Iot Mcu Application Outlook Market 2023-2030 ($M)
20.1 Industrial Automation Market 2023-2030 ($M) - Regional Industry Research
20.2 Smart Home Market 2023-2030 ($M) - Regional Industry Research
20.3 Consumer Electronics Market 2023-2030 ($M) - Regional Industry Research
20.3.1 Home Appliance Market 2023-2030 ($M)
20.3.2 Wearable Market 2023-2030 ($M)
20.3.3 Smartphones Market 2023-2030 ($M)
21.MENA Competitive Landscape Market 2023-2030 ($M)
21.1 Atmel Corporation Market 2023-2030 ($M) - Regional Industry Research
21.2 Broadcom Corporation Market 2023-2030 ($M) - Regional Industry Research
21.3 Espressif System Pte. Ltd Market 2023-2030 ($M) - Regional Industry Research
21.4 Holtek Semiconductor Market 2023-2030 ($M) - Regional Industry Research
21.5 Infineon Technology Market 2023-2030 ($M) - Regional Industry Research
21.6 Microchip Technology Inc Market 2023-2030 ($M) - Regional Industry Research
21.7 Nuvoton Technology Corporation Market 2023-2030 ($M) - Regional Industry Research
21.8 Nxp Semiconductor N.V Market 2023-2030 ($M) - Regional Industry Research
21.9 Silicon Laboratories, Inc Market 2023-2030 ($M) - Regional Industry Research
21.10 Stmicroelectronics Market 2023-2030 ($M) - Regional Industry Research
21.11 Texas Instrument Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US IoT Microcontroller Market Revenue, 2023-2030 ($M)2.Canada IoT Microcontroller Market Revenue, 2023-2030 ($M)
3.Mexico IoT Microcontroller Market Revenue, 2023-2030 ($M)
4.Brazil IoT Microcontroller Market Revenue, 2023-2030 ($M)
5.Argentina IoT Microcontroller Market Revenue, 2023-2030 ($M)
6.Peru IoT Microcontroller Market Revenue, 2023-2030 ($M)
7.Colombia IoT Microcontroller Market Revenue, 2023-2030 ($M)
8.Chile IoT Microcontroller Market Revenue, 2023-2030 ($M)
9.Rest of South America IoT Microcontroller Market Revenue, 2023-2030 ($M)
10.UK IoT Microcontroller Market Revenue, 2023-2030 ($M)
11.Germany IoT Microcontroller Market Revenue, 2023-2030 ($M)
12.France IoT Microcontroller Market Revenue, 2023-2030 ($M)
13.Italy IoT Microcontroller Market Revenue, 2023-2030 ($M)
14.Spain IoT Microcontroller Market Revenue, 2023-2030 ($M)
15.Rest of Europe IoT Microcontroller Market Revenue, 2023-2030 ($M)
16.China IoT Microcontroller Market Revenue, 2023-2030 ($M)
17.India IoT Microcontroller Market Revenue, 2023-2030 ($M)
18.Japan IoT Microcontroller Market Revenue, 2023-2030 ($M)
19.South Korea IoT Microcontroller Market Revenue, 2023-2030 ($M)
20.South Africa IoT Microcontroller Market Revenue, 2023-2030 ($M)
21.North America IoT Microcontroller By Application
22.South America IoT Microcontroller By Application
23.Europe IoT Microcontroller By Application
24.APAC IoT Microcontroller By Application
25.MENA IoT Microcontroller By Application