New Horizons in the Internet Of Things (IoT) Microcontroller Market- Growth Insights and Forecast to 2023

The significant factor for the growth of IoT in microcontroller is growing internet of things (IoT) industry. The internet of things refers to the network of various physical objects using sensors, embedded actuators, and other devices which can transmit or collect the information about the objects. The data collected from these devices are analyzed for enhancing the services, products and operations.

IoT is witnessing huge adoption across the several applications which include smart appliances, industrial automation, home automation, smart grids and smart cities. Increasing number of connected devices globally, has led the significant development of high performance microcontrollers for various IoT applications. Furthermore, emerging trend of miniaturization of electronic devices is also expected to spur the market growth.

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Increasing commercialization and frequent innovations for products ranging from advanced medical monitoring systems to the sensors in automobiles is expected to exhibit higher gains over the forecast period. Furthermore, growing demand for the automation in downstream industries, deployment of smart meter across the commercial and residential sectors for observing the consumption of energy is also anticipated to impact the market in a positive manner.

The IoT Microcontroller is segregated based on the products, applications and region. The microcontrollers used in the industry are 8-bit, 16-bit and 32-bit and the application of the market are consumer electronics and home appliances, automotive, industrial automation, and medical. The regions included are North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The penetration of the 32-bit microcontroller is higher in comparison to 16-bit and 8-bit microcontroller owing to their higher performance capability, ease of use, static power consumption and higher processing power than other microcontrollers. The segment is expected to hold the major share, since the 32-bit microcontroller can send real-time sensor data over an IP-based network.

High cost involvement in R&D and huge competition in the industry are projected to hinder the growth of market. Also, a huge number of startups are expected to enter to the field, since the IoT is a booming industry, thus further increasing the competition among the industry players.

Asia Pacific region is anticipated to capture a major share in the market and is also expected to maintain its dominance during the forecast period. Smart home and consumer electronics sectors are expected to be the key factors driving the industry. Furthermore, increasing adoption of new technologies by end-user industries, in the countries such as China and India are also projected to witness growth in the upcoming period.

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Key players in the industry include Atmel Corporation, Fujitsu, Microchip Technology, Samsung, NXP Semiconductors, and Texas Instruments. Other players include ARM, Broadcom Corporation, Infineon Technologies, Silicon Labs and STMicroelectronics. The market is highly competitive in nature with numerous brands trying to increase their share in the market and is highly technology driven pushed by rising number of connected devices. Mergers and acquisitions are the most prominent trend followed by the companies for gaining the competitive edge in the market.

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