Global IoT Microcontroller Industry is estimated to reach a market size ~US$ 6 bn by 2028: Ken Research

Global IoT Microcontroller Market by End-User

The automotive segment held the largest market share in Global IoT Microcontroller Market in 2022. The introduction of new technologies in the automotive industry has encouraged the involvement of semiconductors and microcontrollers. According to IEEE Explore, an average of more than 50 microcontroller units (MCUs) are used in vehicles. The addition of connected tech, AI, self-driving, and other IoT services has created enormous 121demand for the deployment of MCUs. Autonomous vehicles and sensor-driven safety features like automatic brakes, collision avoidance systems, and others, are the factors driving the future of automobiles, incorporating MCUs.

Competition Scenario in Global IoT Microcontroller Market

The Global IoT Microcontroller Market is highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in IoT technologies. The IoT Microcontroller market's growth is heavily reliant on IoT-based applications. Numerous IoT microcontroller companies, including Broadcom, Holtek Semiconductor Inc., Infineon Technologies, and Microchip Technology Inc. are extensively investing in research and development to develop new technologies in IoT.

Country-niche players constitute ~50% of the competitors while regional players constitute ~35%. Some of the major players in the market include Broadcom, Holtek Semiconductor Inc., Infineon Technologies, Microchip Technology Inc., Nuvoton Technology Corporation, and others.

What is the Expected Future Outlook for the Overall Global IoT Microcontroller Market Across the globe?

The Global IoT Microcontroller market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future. The Global IoT Microcontroller market is driven development of internet connectivity and IT infrastructure in technologically developing economies and microcontroller unit miniaturization. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

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With the increasing acquisition and emergence of new products, the Global IoT Microcontroller market is changing rapidly. For instance, In November 2021, Infineon Technologies AG enhanced its existing PSoC 6 microcontroller family by introducing Embedded Wizard's graphics library and studio tool. The tools enable designers to develop new graphic interfaces and deploy them to their existing PSoC 6 MCUs.

In October 2022, Holtek Semiconductor Inc launched HT32F67741 MCU. It features Bluetooth 5.2 Arm Cortex-M0+ BLE. In October 2021, Holtek Semiconductor Inc launched HT32F67741 MCU. It features Bluetooth 5.2 Arm Cortex-M0+ BLE microcontroller used for a wide range of applications, including home appliances, healthcare products, smart toys, beacons, data loggers, and Human Interface Devices (HID) services.

In February 2020, Broadcom Inc. launched BCM4389, the first Wi-Fi 6E client device. Furthermore, In January 2020, Mitsubishi Chemical Corporation bought c-m-p GmbH, a German IoT Microcontroller prepreg maker, through its subsidiary, Mitsubishi Chemical Advanced Material, to strengthen its position in the IoT Microcontroller and composite material markets.

The Global IoT Microcontroller Market is forecasted to continue positive growth primarily driven by the increasing number of IoT connections among consumer and enterprise sectors and the need for low-power, high-performance, and energy-efficient connected devices. Though the market is highly competitive with ~200 participants, few global players control the dominant share, and regional players also hold a significant share of the market revenues.

Market Taxonomy

By Products

8 Bits

16 Bits

32 Bits

By Application

Industrial Automation

Smart Homes

Consumer Electronics

Smartphones

Wearables

Others

Others

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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

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

For more insights on the market intelligence, refer to the link below:-

https://www.kenresearch.com/business-research/global-iot-microcontroller-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.