New York, United States, July 06, 2022 (GLOBE NEWSWIRE) -- The term "IoT" relates to the capability to connect controllers, sensors, or any tool to the Internet. The growing interconnectedness of machines and personalized intelligent devices, the increase in cloud services and analytics, and the profusion of software integrating partners, distribution networks, and customers contribute to the widespread use of the Internet of things. As the IoT, there is a growing issue about protecting the massive quantity of data collected and communicated by IoT devices.
Microcontroller units (MCUs) enable authentication protocols, encryption, and decryption, reducing data security threats. MCUs have fraud detection, code encryption, and stringent security features that keep IoT devices from becoming corrupted. MCUs for IoT applications provide a variety of hardware and system characteristics like low-energy independent peripherals, ultra-low power modes with speedy wake time, and resource profiling and power estimating apps.
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/iot-microcontroller-market/request-sample
Growing Demand for Wearable Devices to Drive the Global IoT MCU Market
Wearables are embedded systems that can be worn as accouterments, embedded in the user's body, or integrated with clothing. Sensor downsizing and advancements in cutting-edge technologies such as Ai, Deep Learning, and Big Data Analytics enable wearables to be coupled with IoT systems.
Obesity and other lifestyle problems motivate people to engage in various personal fitness exercises and track their progress with wearables. Given that magnitude, weight, energy consumption, longevity, sturdiness, reliability, and convenience of use are among the key factors end-users consider when purchasing wearables, wearable technology is constantly evolving in aspects of ergonomic design, merchandise material, power consumption, memory space, performance characteristics, effectiveness, and user experience. The increased popularity of fitness wearables, especially among youngsters, is projected to promote wearable adoption.
Several corporations, including Apple Inc. and Google LLC, are spending heavily on the development of wearable devices and the introduction of novel wearables. Wearables will evolve and offer different features as technology advances, adding to end users' convenience. Some of the primary drivers projected to boost wearable device implementation are in-store merchandising, the adoption of tiny sensors, the simplicity of paying with wearables, and the capacity of smartwatches to engage with end-users.
Growing MCU Miniaturization to Provide Lucrative Opportunities for the Global IoT MCU Market
MCU miniaturization offers a framework for system designers, mainly for new emergent uses. This expanding web of IoT or linked devices includes smartphones, Smart Plasma TVs (Smart TVs), pads, domestic appliances, smart meters, and security devices, which is expected to improve IoT MCU demand dramatically.
As a result, the miniaturization of detectors and power sources and the ongoing spread of dependable, seamless connections are creating new commercial prospects in wearable technology.
Buy Now Full Report @ https://straitsresearch.com/buy-now/iot-microcontroller-market/global/
Impact of COVID-19
The COVID-19 outbreak had a remarkable impact on the semiconductor industrial sector. The pervasiveness of the coronavirus spurred governments in various countries, including China, Germany, the United States, Japan, and South Korea, to adopt extreme measures involving strict lockdowns and the shutting of global trade borders.
However, because manufacturing at multiple production facilities was abruptly suspended and foreign trade borders shuttered, the worldwide market faced an impending scarcity of semiconductors and numerous components, notably microcontrollers and microprocessors. Although limitations were gradually lifted in multiple parts of the world and trade activity began, the semiconductor scarcity is likely to last until 2023.
The market based on region is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa (MEA).
The Asia-Pacific region was valued at USD 2,267 million in 2021 and is expected to reach USD 6,695 million by 2030, growing with a CAGR of 14% over the forecast period. The Asia-Pacific had the most significant market share, accounting for more than 40%. China, India, Japan, and Southeast Asian economies dominate the market. Increased government endeavors to build innovative, connected architecture augur well for market growth. Furthermore, a growing preference for internet technology increased urbanization, and easy implementation of public Wi-Fi hotspots will fuel market expansion over the projection period.
The Europe region was valued at USD 1,036 million in 2021 and is expected to reach USD 2,826 million by 2030, growing with a CAGR of 13% over the forecast period. Over the predicted period, the increased deployment of smart meters in Europe is anticipated to enhance the IoT MCU market growth. Increased government investment in grid modernization and digitalization by utility firms are projected to stimulate intelligent meter demand in Europe. Western and Northern European regions are projected to substitute traditional meters with smart meters over the next eight years.
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/iot-microcontroller-market/request-sample
- The global IoT Microcontroller market was valued at USD 4,696 million in 2021, and it is expected to reach USD 12,937 million by 2030, growing at a CAGR of 13% over the forecast period (2022–2030).
- Based on the product, the market is divided into 8 bit, 16 bit, and 32 bit. The 32-bit segment was valued at USD 2,185 million in 2021 and is expected to reach USD 6,522 million by 2030, growing at a CAGR of 14% over the forecast period. The 32-bit is the most compatible MCU for IoT applications. However, the 8-bit segment is extensively used for low-power applications such as smart wearables and connected devices. An 8-bit Microcontroller Unit (MCU) comprises a low gate count, software simplicity, and lesser complexity, making the 8-bit MCU cheaper than the other microcontrollers. In terms of revenue, the 8-bit segment is expected to register a CAGR of 13% over the analysis period.
- Based on application, the global IoT Microcontroller (MCU) Market is divided into industrial automation, smart home, consumer electronics, and others. The industrial automation segment was valued at USD 1,550 million in 2021 and is expected to reach USD 4,390 million by 2030, growing at a CAGR of 13% over the forecast period. Consumer electronics, including smartphones, tablets, and smart wearables, have gained popularity in recent years. The adoption of smartwatches and fitness trackers in consumer electronics is witnessing significant demand and is predicted to expand at a CAGR of 12% over the forecast period.
Top Market Players
- Renesas Electronics Corporation
- Texas Instruments Incorporated
- Silicon Laboratories
- Nuvoton Technology Corporation
- NXP Semiconductors
- Microchip Technology Inc
- Holtek Semiconductor Inc.
- ESPRESSIF SYSTEMS (SHANGHAI) CO., LTD
Global IoT Microcontroller Market: Segmentation
- Industrial Automation
- Smart Homes
- Consumer Electronics
- North America
- Latin America
- Middle East and Africa
TABLE OF CONTENT
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: IoT Microcontroller (MCU) Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
188.8.131.52 North America
184.108.40.206 Central and South America and the Caribbean
220.127.116.11 The Middle East and Africa
5 Product Overview
5.1.1 Market Size & Forecast (Value & Volume)
5.2.1 Market Size & Forecast (Value & Volume)
5.3.1 Market Size & Forecast (Value & Volume)
5.4.1 Market Size & Forecast (Value & Volume)
6 Application Overview
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Industrial Automation
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Smart Homes
6.3.1 Market Size & Forecast (Value & Volume)
6.4 Consumer Electronics
6.4.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.6 Rest of Central and South America and the Caribbean
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.5 The U.K.
7.4.7 The Rest Of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.7 South Korea
7.5.8 Rest Of APAC
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 South Arabia
7.6.4 The UAE
7.6.8 The Rest Of Middle East
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.4 South Africa
7.7.5 The Rest Of Africa
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 Renesas Electronics Corporation
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.5 Texas Instruments Incorporated
8.6 Silicon Laboratories
8.7 Nuvoton Technology Corporation
8.8 NXP Semiconductors
8.9 Microchip Technology Inc
8.10 Holtek Semiconductor Inc.
8.11 ESPRESSIF SYSTEMS (SHANGHAI) CO., LTD
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
Read the full Report Description with Table of Content and Figure @ https://straitsresearch.com/report/iot-microcontroller-market/toc
- In June 2021, Microchip Technology Inc released the MPLAB cloud tools ecosystem for PIC and AVR devices. The cloud platform integrates configuration and collaboration tools with knowledge-based search to improve the embedded development workflow.
- In April 2021, Nuvoton Technology Corporation launched NuMicro® M0A23/M0A21 series MCU. The MCU is suitable for automotive and industrial applications. The MCU offers analog and digital peripherals in SSOP20 TSSOP28 packages and is ideal for small form factor applications such as automotive lighting, battery management system, automotive body control, power applications, and automotive ultrasonic radar control.
- In July 2020, Synaptics Incorporated acquired the wireless IoT business of Broadcom. The acquisition enables the former company to strengthen its market presence in consumer IoT application areas. It also allows Broadcom to focus its core competencies in the semiconductor solution and infrastructure software segments.
- In September 2021, NXP Semiconductor collaborated with MicroEJ, a company specializing in software enablement solutions for IoT and embedded devices, to provide the MICROEJ VEE on-device platform. The partnership enables the latter company to offer an integrated solution to enhance the former company's performance of i.MX RT500 Crossover MCUs for low power applications such as wearables.
Have a Look at the Related Research Report
Home Appliance Market: Information by Product Type (Washers & Dryers, and Dishwashers), Price Range (Low-High), Channel (Direct and Distributor), and Region–Forecasted till 2026
IoT Integration Market: Information by Service (Device and Platform Management Services) Organization Size (Large Enterprise), Application (Smart Retail), and Region — Forecast till 2029
Internet of Things Operating System Market: Information by User Type (Large Enterprise), Application (Smart Building, Smart Utilities, Smart Healthcare), and Region — Forecast till 2029
Consumer Electronic Market: Information by Product Type (Handheld Devices, Computers, Cameras, Gaming Consoles), End Users), and Region — Forecast till 2026
IoT Cybersecurity Market: Information by Type (Network Security, Endpoint Security, Cloud Security, Others), Application (Smart Home and Wearable's), and Region — Forecast till 2029
About Straits Research Pvt. Ltd.
StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client's purchase. We overcome our clients' issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
For more information on your target market, please contact us below:
Phone: +1 646 480 7505 (the U.S.)
+91 8087085354 (APAC)
+44 208 068 9665 (the U.K.)
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.