IoT Microcontroller Market (By Product: 8 Bit, 16 Bit, 32 Bit; By Application: Industrial Automation, Smart Homes, Consumer Electronics) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 2030

The global IoT Microcontroller market size is expected to be worth around USD 12.90 billion by 2030 from at USD 4.60 billion in 2021, expanding growth at a CAGR of 12.6% during the forecast period 2022 to 2030.

IoT Microcontroller Market Size 2021 to 2030

Growth Factors

Increase in adoption of smart home devices integrated with mobile applications and advancements in low power Microcontroller (MCU) are expected to drive the market growth. The surge in the number of enterprise IoT connections across industries such as manufacturing, healthcare, and energy and power is also expected to drive the growth of the market over the forecast period.

Advancements in short-range wireless connectivity such as Zigbee, Bluetooth, and KNX technologies, notably in Europe and North America also expected to drive IoT adoption over the next few years. Advancements in disruptive technologies such as big data analytics, Artificial Intelligence (AI), and industrial IoT are further expected to propel the adoption of IoT-connected devices. Increasing investments through funding in start-ups such as Hypervolt, HIXAA, SmartRent, and other SMEs that help to gain new IoT-based projects in industries likely to create the need for a high-performance, low-power IoT MCUs market over the forecast period.

The increasing number of IoT connections among consumer and enterprise sectors and the need for low-power, high-performance, and energy-efficient connected products are some of the primary factors to drive the market growth. Also, a growing preference for embedded Non-Volatile Memory (eNVM) solutions over System-in-Package (SiP) in high-end applications such as industrial automation, smart utilities, and smart transportation is expected to bode well for the IoT microcontroller market growth over the next coming years. However, the lack of industry standards, optimization, and data security of IoT-connected devices are expected to hamper the market growth over the forecast period.

Report Coverage

Report Scope Details
Market Size US$ 12.90 billion by 2030
Growth Rate CAGR of 12.6% From 2022 to 2030
Largest Market Asia Pacific
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Product, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Broadcom; Espressif Systems (Shanghai) Co., Ltd; Holtek Semiconductor Inc.; Infineon Technologies; Microchip Technology Inc.; Nuvoton Technology Corporation; NXP Semiconductors; Silicon Laboratories; STMicroelectronics; Texas Instruments Incorporated; Renesas Electronics Corporation

By Product Analysis

Based on product, the IoT microcontroller market has been categorized into 8 bit, 16 bit, and 32 bit. The 32 Bit MCU segment dominated the market in 2021 and is anticipated to register the highest CAGR of 13.6% from 2022 to 2030. 

The 32 bit is the most compatible MCU for IoT applications. It processes multiple peripherals efficiently and is extensively used in industrial applications such as factory automation and building automation and is also available at affordable prices.

The 8 Bit MCUs segment is anticipated to expand at a CAGR exceeding 12% over the forecast period. The 8-bit segment is extensively used for low-power applications such as smart wearables and connected devices

The growing preference for fitness wearables, particularly among millennials, is expected to drive the adoption of wearables. Lifestyle disorders, such as obesity, prompt individuals to pursue various fitness-related activities and monitor their performance using wearables, which is expected to bode well for the market growth over the next few years.

By Application Analysis

Based on application, the market is categorized into industrial automation, smart homes, consumer electronics, and others. The smart homes segment was valued at USD 1.04 billion in 2021, registering a CAGR exceeding 14% over the forecast period. 

The smart home segment is inclusive of home appliances. Advancements in app-controlled (notably mobile app) smart devices create the need for safe, secured, and energy-efficient applications such as HVAC and energy management, lighting, and infotainment applications, a trend which is expected to support the market growth for the smart home segment over the next few years.

The consumer electronics segment encompasses smartphones, wearables, and others. The COVID-19 outbreak compelled the employees to work remotely. This has further triggered the demand for smart wearables such as smartwatches and fitness trackers.

By Regional Analysis

Asia Pacific dominated the market and is anticipated to expand at a CAGR exceeding 13.0% over the forecast period. The growth is primarily driven by China, India, and Japan which accounted for more than 50% of the overall market share. 

The Europe regional market accounted for a revenue share of over 20% in 2021. In Europe, more than 50% of the electricity meters have been replaced by smart meters as part of the aggressive investments in grid modernization.

The recent Regional Comprehensive Economic Partnership (RCEP) trade agreement with China and ASEAN countries coupled with the increase in disposable income among emerging economies such as Vietnam, Malaysia, and Indonesia are expected to create affordable smart home devices among the consumers, which will eventually drive the market growth over the forecast period.

Key Players

  • Broadcom

  • Espressif Systems (Shanghai) Co., Ltd

  • Holtek Semiconductor Inc.

  • Infineon Technologies

  • Microchip Technology Inc.

  • Nuvoton Technology Corporation

  • NXP Semiconductors

  • Silicon Laboratories

  • STMicroelectronics

  • Texas Instruments Incorporated

  • Renesas Electronics Corporation 

Market Segmentation

  • By Product

    • 8 Bit

    • 16 Bit

    • 32 Bit

  • By Application

    • Industrial Automation

    • Smart Homes

    • Consumer Electronics

      • Smartphones

      • Wearables

      • Others

    • Others (others include smart utility, smart transportation& logistics, smart retail, and other enterprise application)

  • Regional

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • Rest of Europe

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Taiwan

      • Rest of Asia Pacific

    • Latin America

      • Brazil

      • Mexico

      • Rest of Latin America

    • Middle East & Africa

The IoT Microcontroller market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of IoT Microcontroller market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global IoT Microcontroller market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the IoT Microcontroller market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted IoT Microcontroller market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the IoT Microcontroller capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of IoT Microcontroller by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global IoT Microcontroller market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major IoT Microcontroller market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of IoT Microcontroller market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the IoT Microcontroller industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

IoT Microcontroller market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to IoT Microcontroller market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of IoT Microcontroller market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new IoT Microcontroller market. These factors have benefited the growth of the global market for IoT Microcontroller. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for IoT Microcontroller. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of IoT Microcontroller are as follows:

  • History Year: 2019-2021
  • Base Year: 2022
  • Forecast Year 2022  to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2019-2022) and forecast (2022-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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