The global IoT microcontroller market was valued at USD 2,255 million in 2017 and is anticipated to grow at a CAGR of 9.7% during the forecast period.
An IoT microcontroller is a small, self-contained control unit incorporated in a single integrated circuit, or microchip to be used for IoT applications. These microcontrollers are dedicated to a single function, and are often embedded in other devices such as smartphones and home electronics. IoT microcontrollers contain RAM, ROM, and other peripherals enabling them to perform simple tasks independently. IoT applications use microcontrollers owing to their simplicity, security, and cost effectiveness.
The increasing adoption of IoT, and growing penetration of smartphones drive the growth of the IoT microcontroller market. The growing trend of BYOD and cloud further supports market growth. The rising adoption of cloud, big data, and virtualization further increases the adoption of IoT microcontroller. Increasing proliferation of mobile devices, and growth in demand for mobility services are factors expected to support IoT microcontroller market growth during the forecast period. Other factors driving the market include technological advancements, increasing automation across varied industries, and increasing deployment of smart meters. However, high power consumption, security and privacy concerns, and lack of standardization are factors hindering market growth. Growing demand from emerging economies, and technological advancements are expected to provide numerous growth opportunities in the coming years.
The global IoT microcontroller market is segmented on the basis of type, application, and region.
On the basis of type, the IoT microcontroller market is segmented into 8 Bit Microcontroller, 16 Bit Microcontroller, and 32 Bit Microcontroller. In 2017, the 32 bit microcontrollers dominated the global market owing to its improved RAM size and ability to offer enhanced performance.
The application segment is bifurcated into Consumer Electronics, Automotive, Healthcare, Industrial Automation, Smart Homes, and others. The consumer electronics segment dominated the global IoT microcontroller market in 2017.
Geographically, the IoT microcontroller market is distributed across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America accounted for the largest share in the Global IoT Microcontroller market in 2017. The increasing industrial automation in the region promotes market growth in the region. The increase in penetration of mobile devices, and growing trend of cloud, IoT, and BYOD further support the market growth in the region.
The leading players in the IoT microcontroller market include Infineon Technologies, Broadcom Corporation, Microchip Technology, Fujitsu Ltd, Holtek Semiconductor, Silicon Laboratories, Inc, Texas Instruments, NXP Semiconductors N.V, Atmel Corporation, and Espressif Systems Pte. Ltd among others. These leading players in the market are introducing innovative products in the market to cater to the consumers. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.