IoT Microcontroller Market 2018 Global Size, Segments, Growth Factor, Future Trends, sales Revenue by Forecast to 2023
Pune, India -- (SBWIRE) -- 12/11/2018 -- Market Insights:
Microcontrollers (MCU) include microprocessors and are essentially a System on a Chip (SoC). Internet of Things IoT Microcontrollers Market have witnessed considerable growth in demand due to the rising adoption of smart devices. According to Market Research Future (MRFR), the global IoT MCU market is anticipated to grow at an above-average CAGR of 12% during the forecast period of 2017 to 2023. Technological advancements and the increasing applications of IoT are expected to contribute significantly to the market growth, and MRFR has found that these factors are expected to facilitate growth so that the market will reach an estimated evaluation of over USD 4 Bn by the end of 2023.
The swift deployments of smart meters across both residential and commercial sectors for the real-time feedback of energy consumption are expected to aid market growth. Moreover, the use of IoT in the industrial sector is expected to increase the demand for IoT MCUs. Using IoT microcontrollers to address security concerns, and other related issues is anticipated to drive its demand further. With the growing adoption of smart devices and increasing demand for smart homes, the demand for IoT MCUs which can handle advanced tasks is expected to facilitate growth. The automotive sector is also adopting IoT, thus adding to product demand. Machine learning and artificial intelligence (AI) combined with IoT devices are expected to increase market potential over the forecast period considerably.
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Market leading players included in MRFR's report are Texas Instruments, Intel Corporation, Atmel, Freescale, Infineon, ST Microelectronics, Fujitsu Ltd., Samsung Group, and Microchip Technology among others. Product innovations, acquisitions, and mergers and R&D activities are key strategies for the advancement of the global IoT MCU market.
The global IoT microcontroller market has been segmentally evaluated in MRFR's report. The market has been segmented on various factors including product type, application, and region. By product type, the market is segmented into 8 bit, 16 bit, and 32 bit. By application, the market is categorized by automotive, industries, healthcare, electronics, and others
Global segmentation of the market divides it into North America, Europe, Asia-Pacific (APAC) and the Rest of the World.
North America dominates the market with the most significant share of the global market due to the ever-increasing IT requirements and the increased demand from the region's growing smart home segment. The region is home to many leading market players who have been key to the technological advancement of IoT microcontrollers.
Meanwhile, the Asia-Pacific accounts for the fastest growing market with the highest CAGR due to rising advancement in the automotive industry which is occurring as the demand for vehicle connectivity and an interactive security system grows. Moreover, the region has rising disposable incomes, large consumer population and booming end-use industry verticals which have led to the robust demand for smart devices such as smartphones, tablets, smart watches, and smart TVs. The region also possesses several leading manufacturers which have been highly effective in raising the regions market share.
Latest Industry News
- SEGGER has just launched emPack, a complete operating system for IoT devices and embedded systems. Available as source code and is deliverable for all forms of microcontrollers (8, 16, and 32 bit).
- Google is making its AI microcontroller chips available for non-Google products. The Edge TPU is expected to be highly useful across various industries, particularly in the industrial sector.
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- Technology Investors
- Research/Consultancy Firms
- Software Providers
- System Integrators
- Government and Standardization Bodies
- Hardware providers
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
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