Global IoT Microcontroller Market – Overview
As per Market Research Future (MRFR), The global IoT Microcontroller Market is estimated to reach USD
4 billion at a CAGR of approximately 12% from 2017 to 2023 (forecast period).
The report discusses significant developments in the global IoT microcontroller
market as a result of the latest COVID-19 pandemic. The report provides a
precise review of the major aspects of the sector that are likely to be
affected by the pandemic.
The Internet of Things (IoT) microcontroller is a
mixture of IoT technology and a microcontroller. The IoT needs sensors and
actuators to connect the physical and digital worlds together. The sensor
converts the physical state to an analog or digital signal, while the actuator
converts the digital signal to some physical effect. The next step in the IoT
architecture is a computing system that processes or generates digital signals
that can be performed by a microcontroller.
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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.
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.
Global IoT Microcontroller Market -
Segments
The report is segmented into three dynamics:
By Type :
8-bit, 16 bit, and 32 bit.
By End-User: Consumer Electronics, Automotive,
Industries, Healthcare, and others.
By Regions :
Americas, Asia Pacific, Europe, and the Rest-of-the-World.
Global IoT Microcontroller (MCU) Market -
Regional Analysis
North America dominates the global IoT
microcontroller market. The largest market share attributes to the increasing
IT requirements and rising demand from the smart home segment. Rapid
technological advancements in smart devices drive the growth of the regional
market. Moreover, the strong presence of major IoT microcontroller manufacturers
and semiconductor research and development centers boost regional market
growth.
Besides, enormous technological advances in consumer
electronics push the growth of the regional market. Due to the high spending on
personal devices and the technology environment, the US and Canada markets
account for a significant share in the regional market. The North American IoT
microcontroller market is estimated to retain its dominance throughout the
forecast period.
Europe stands second in the global IoT microcontroller
market. Increasing investments in consumer electronics, automotive, industrial
manufacturing, and communication & IT sectors influence the market growth
in the region. Additionally, the presence of notable automakers and
manufacturers of advanced semiconductors fosters the growth of the regional
market. The European IoT microcontroller market is expected to witness rapid
growth in the forthcoming period.
The Asia Pacific region has emerged as a promising
market for IoT microcontroller. Factors such as the vast production and
adoption of IoT technology in respective electronic products create huge market
demand. Moreover, the high demand for consumer electronic devices, especially
from the automotive and consumer electronics sectors, boosts the regional
market growth.
Japan, China, and India are major contributors to
the growth of the regional market. The APAC IoT MCU market is forecasted to
create a substantial revenue pocket during the review period.
Competitive Analysis
Highly competitive, the IoT microcontroller market
appears fragmented due to the presence of several well-established players. Key
strategies traced from recent developments of industry players include
agreement & partnership, acquisitions, expansion, and product or technology
launch. Players compete with each other based upon pricing, technology,
reputation, and services.
These players make substantial R&D investments
to deliver reliable, leading-edge products and services. Film capacitor
manufacturers are focused on enhancing their product portfolios with the latest
technologies. They follow organic and inorganic growth approaches to
commercialize and increase sales of their products. The market competition
would intensify further due to new product launches and the new entrants in the
market.
Major Players:
Players leading the global IoT MCU market include
Freescale (US), Atmel (US), Infineon (Germany), Texas Instruments (US), ST
Microelectronics (Switzerland), Fujitsu Ltd (Japan), Samsung Group (South
Korea), Microchip Technology (US), and Intel Corporation (US), among others.
Industry/ Innovation/Related News:
July 16, 2020 ---- STMicroelectronics (Switzerland),
a global semiconductor company, announced the acquisitions of the entire share
capital of Ultra Wide Band specialist BeSpoon and cellular IoT connectivity
assets of Riot Micro to further strengthen the wireless connectivity
capabilities of STM32 microcontrollers. After closing of the two transactions,
ST would be able to strengthen its offer for wireless connectivity and the
roadmap for its STM32 microcontrollers and secure MCUs.
ST serves customers across the spectrum of
electronics applications. Further, the acquisitions extend ST connectivity
solutions offer to Narrow Band Cellular and Ultra-Wide Band technologies.
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