IoT Microcontroller (MCU) Market (Updated Version Available)
IoT Microcontroller (MCU) Market Size, Share & Trends Analysis, By Product (8-bit, 16-bit, and 32-bit), Application (Industrial Automation, Smart Homes, Consumer Electronics, and Smart Wearables), By Region, Forecast Period 2023 - 2030
Report ID : RI_613524 | Date : April 2023 |
Format : 
Key Market Overview:
IoT Microcontroller (MCU) Market is estimated to reach over USD 13.50 Billion by 2030 from a value of USD 5.78 Billion in 2022, growing at a CAGR of 11.19% from 2023 to 2030.
An IoT microcontroller is a small electronic device that is designed to be used in IoT (Internet of Things) applications. IoT microcontrollers are a specialized type of microcontroller that is optimized for low-power, low-cost, and connected devices. IoT microcontrollers have built-in networking capabilities such as Wi-Fi or Bluetooth allowing them to communicate with other devices and the internet. Moreover, IoT microcontrollers have sensors and built-in actuators allowing them to collect data and control physical devices.
The increasing demand for connected devices such as IoT-based smart home devices is driving the growth of IoT microcontroller market. Connected devices offer a high level of convenience by allowing users to control and monitor devices remotely. Smart home devices allow users to control their lights, thermostats, and security systems from their smartphones, thereby contributing to the market\'s growth. For instance, in June 2022, NXP Semiconductors introduced its new MCX portfolio of microcontrollers for advanced industrial and IoT edge computing. The MCX portfolio is designed to meet the demands of the growing volume of data generated by connected devices. Therefore, connected devices provide a better customer experience by offering personalized services and improving communication between devices driving growth in the IoT microcontroller market.
IoT Microcontroller (MCU) Report Coverage:
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Market Dynamics:
Driver:
The continuous advancements in wireless communication technology are driving the growth of IoT microcontroller (MCU) market. The development of low-power wireless communication technologies such as Bluetooth Low Energy and Zigbee have made it possible to connect more devices to the internet without draining the battery life. Wireless communication technologies enable wireless communication over short distances suitable for use in smart home devices, wearables, and other IoT applications. Moreover, the advent of 5G cellular networks is further boosting the growth of IoT microcontroller market. 5G networks are ideal for IoT applications that require high-speed, low-latency connections, such as autonomous vehicles, smart cities, and industrial automation. For instance, in June 2022, Renesas Electronics Corporation launched its cellular-to-cloud IoT development platforms powered by RA and RX MCU families. The platforms are designed to accelerate the development of IoT applications that require cellular connectivity and cloud integration. Therefore, IoT microcontrollers play a key role in providing wireless communication and cellular connectivity.
Restraint:
IoT microcontrollers have limited processing power compared to traditional microcontrollers or processors that limits the growth of IoT microcontroller market. IoT devices have limited processing power due to the need for low power consumption, small form factor, and cost efficiency. Therefore, the limited processing power of IoT microcontrollers pose a challenge to implement complex algorithms or support high-bandwidth applications, such as high-resolution video streaming. Moreover, IoT devices rely on batteries or energy harvesting systems for power and limited power supply by the IoT microcontrollers is further restraining the growth of IoT microcontroller market.
Opportunities:
IoT microcontrollers are increasingly being used in smart wearables, presenting numerous opportunities for innovation and growth during the forecast period. The use of IoT microcontrollers in smart wearables enables these devices to communicate with other devices, collect and analyze data, and perform a wide range of functions, such as monitoring health, tracking fitness, and providing alerts and notifications. Moreover, IoT microcontrollers enable smart wearables to connect to a wide range of other devices, such as smartphones, smart home devices, and other wearables, enabling seamless data transfer and a more integrated user experience. Therefore, the application of IoT microcontrollers in smart wearables is expected to accelerate market growth during the forecast period.
IoT Microcontroller (MCU) Market Competitive Landscape:
The market for IoT Microcontroller (MCU) is highly competitive owing to a number of vendors providing IoT Microcontrollers to the international and domestic markets. The key market players are adopting strategies for merger and acquisitions, and product innovations to stay competitive in the market. These factors are examined to offer an insightful understanding of current market circumstances. Following are the major market players that comprise the latest market concentration–
• Infineon Technologies
• Espressif Systems (Shanghai) Co., Ltd
• Holtek Semiconductor Inc.
• Microchip Technology Inc.
• Nuvoton Technology Corporation
• NXP Semiconductors
• Silicon Laboratories
• STMicroelectronics
• Texas Instruments Incorporated
• Renesas Electronics Corporation
Recent Developments:
• In January 2023, STMicroelectronics launched the STM32C0 series of 32-bit microcontrollers designed to bring advanced features and performance to cost-sensitive applications that traditionally use 8-bit microcontrollers.
• In July 2021, Texas Instruments (TI) launched a new lineup of Sitara microcontrollers (MCUs) designed to meet the needs of a wide range of industrial applications. The new Sitara AM2x MCU family is based on offers of a variety of performance, memory, and connectivity options to support a range of different applications.
IoT Microcontroller (MCU) Market Segmentation:
By Type
Based on the type, the market is trifurcated into 8-bit, 16-bit and 32-bit. The 32-bit microcontroller segment holds the largest share of the global market. The growth of this segment is attributed to its features such as high processing speed, and large memory capacity that are suitable for a wide range of IoT applications. The growing demand for high-performance microcontrollers to support advanced IoT applications, such as artificial intelligence, machine learning, and data analytics, is also driving the growth of the 32-bit microcontroller market. For instance, in May 2020, Epson launched a new 32-bit microcontroller with an Arm Cortex-M0+ processor, designed to offer high performance and power efficiency for a range of IoT applications. Therefore, the ability of 32-bit microcontroller to offer high performance speed is driving the growth of the market.
The 16-bit IoT microcontroller segment is expected to emerge as the fastest-growing segment during the forecast period. 16-bit microcontrollers offer greater processing power, larger memory capacity, and more advanced peripherals making them ideal for a wide range of IoT applications. Moreover, 16-bit microcontrollers are used in industrial automation, automotive, and consumer electronics applications where more complex functionality is required, thereby contributing to the growth of this segment. For instance, in April 2021, Renesas strengthened its RL78 family of low-power MCUs with the 16-bit general-purpose RL78/G23 designed to provide a high level of performance and low power consumption for a wide range of IoT applications.
By Application
Based on the application, the market is segmented into industrial automation, smart homes, consumer electronics, and smart wearables. The smart homes segment accounted for the largest revenue share in the year 2022. The increasing adoption of smart home devices and the availability of affordable IoT solutions are driving the growth of the smart homes segment. Smart homes require microcontrollers that are low-power, small, and are able to connect to a range of sensors and actuators. IoT microcontrollers are used for a wide range of smart home applications such as smart lighting, home automation systems, and security systems.
The consumer electronics segment is expected is register the fastest CAGR growth during the forecast period. The growth of this segment is attributed to the increasing demand for feature-rich electronic devices and the rising adoption of wireless communication technologies. IoT microcontrollers play a critical role by providing the processing power and connectivity required to support advanced features and functionality of electronic devices such as smartphones, tablets, and gaming consoles. For instance, in March 2023, Silicon Labs announced a new Bluetooth System-on-Chip (SoC) and Microcontroller Unit (MCU) that are designed specifically for small form-factor devices.
By Region:
Europe dominates the IoT microcontroller (MCU) market and accounted for the largest revenue share in the year 2022. The increasing adoption of Industry 4.0, smart city initiatives, and the growing demand for connected devices in the region is driving the growth of the regional market. Smart city initiatives involve the integration of IoT-enabled devices and technologies into industrial and urban environments, thereby demanding IoT microcontrollers for these applications. Furthermore, the presence of key players such as STMicroelectronics, NXP Semiconductors, and Infineon Technologies in the region is further contributing to the growth of microcontrollers market in the region.
The Asia-Pacific region is anticipated to witness the fastest CAGR growth during the forecast period. The Asia Pacific region has a large and rapidly growing industrial automation sector, driving the growth of IoT microcontroller market in the region. The region has a large and growing manufacturing sector, thereby increasing the demand for IoT-enabled automation solutions that help improve efficiency, reduce costs, and increase productivity. Furthermore, there are several government initiatives in the Asia Pacific region that are boosting the growth of the IoT microcontroller market. For instance, the Indian government launched Digital India program to promote the adoption of digital technologies, including IoT, across the country.
IoT Microcontroller (MCU) Market is estimated to reach over USD 13.50 Billion by 2030 from a value of USD 5.78 Billion in 2022, growing at a CAGR of 11.19% from 2023 to 2030.
An IoT microcontroller is a small electronic device that is designed to be used in IoT (Internet of Things) applications. IoT microcontrollers are a specialized type of microcontroller that is optimized for low-power, low-cost, and connected devices. IoT microcontrollers have built-in networking capabilities such as Wi-Fi or Bluetooth allowing them to communicate with other devices and the internet. Moreover, IoT microcontrollers have sensors and built-in actuators allowing them to collect data and control physical devices.
The increasing demand for connected devices such as IoT-based smart home devices is driving the growth of IoT microcontroller market. Connected devices offer a high level of convenience by allowing users to control and monitor devices remotely. Smart home devices allow users to control their lights, thermostats, and security systems from their smartphones, thereby contributing to the market\'s growth. For instance, in June 2022, NXP Semiconductors introduced its new MCX portfolio of microcontrollers for advanced industrial and IoT edge computing. The MCX portfolio is designed to meet the demands of the growing volume of data generated by connected devices. Therefore, connected devices provide a better customer experience by offering personalized services and improving communication between devices driving growth in the IoT microcontroller market.
IoT Microcontroller (MCU) Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | USD 13.50 Billion |
| CAGR (2023-2030) | 11.19 % |
| Base Year | 2022 |
| By Type | 8-bit, 16-bit, and 32-bit |
| By Application | Industrial Automation, Smart Homes, Consumer Electronics, and Smart Wearables |
| By Geography |
|
| Key Players | Infineon Technologies, Espressif Systems (Shanghai) Co., Ltd, Holtek Semiconductor Inc., Microchip Technology Inc., Nuvoton Technology Corporation, NXP Semiconductors, Silicon Laboratories, STMicroelectronics, Texas Instruments Incorporated, Renesas Electronics Corporation |
Market Dynamics:
Driver:
The continuous advancements in wireless communication technology are driving the growth of IoT microcontroller (MCU) market. The development of low-power wireless communication technologies such as Bluetooth Low Energy and Zigbee have made it possible to connect more devices to the internet without draining the battery life. Wireless communication technologies enable wireless communication over short distances suitable for use in smart home devices, wearables, and other IoT applications. Moreover, the advent of 5G cellular networks is further boosting the growth of IoT microcontroller market. 5G networks are ideal for IoT applications that require high-speed, low-latency connections, such as autonomous vehicles, smart cities, and industrial automation. For instance, in June 2022, Renesas Electronics Corporation launched its cellular-to-cloud IoT development platforms powered by RA and RX MCU families. The platforms are designed to accelerate the development of IoT applications that require cellular connectivity and cloud integration. Therefore, IoT microcontrollers play a key role in providing wireless communication and cellular connectivity.
Restraint:
IoT microcontrollers have limited processing power compared to traditional microcontrollers or processors that limits the growth of IoT microcontroller market. IoT devices have limited processing power due to the need for low power consumption, small form factor, and cost efficiency. Therefore, the limited processing power of IoT microcontrollers pose a challenge to implement complex algorithms or support high-bandwidth applications, such as high-resolution video streaming. Moreover, IoT devices rely on batteries or energy harvesting systems for power and limited power supply by the IoT microcontrollers is further restraining the growth of IoT microcontroller market.
Opportunities:
IoT microcontrollers are increasingly being used in smart wearables, presenting numerous opportunities for innovation and growth during the forecast period. The use of IoT microcontrollers in smart wearables enables these devices to communicate with other devices, collect and analyze data, and perform a wide range of functions, such as monitoring health, tracking fitness, and providing alerts and notifications. Moreover, IoT microcontrollers enable smart wearables to connect to a wide range of other devices, such as smartphones, smart home devices, and other wearables, enabling seamless data transfer and a more integrated user experience. Therefore, the application of IoT microcontrollers in smart wearables is expected to accelerate market growth during the forecast period.
IoT Microcontroller (MCU) Market Competitive Landscape:
The market for IoT Microcontroller (MCU) is highly competitive owing to a number of vendors providing IoT Microcontrollers to the international and domestic markets. The key market players are adopting strategies for merger and acquisitions, and product innovations to stay competitive in the market. These factors are examined to offer an insightful understanding of current market circumstances. Following are the major market players that comprise the latest market concentration–
• Infineon Technologies
• Espressif Systems (Shanghai) Co., Ltd
• Holtek Semiconductor Inc.
• Microchip Technology Inc.
• Nuvoton Technology Corporation
• NXP Semiconductors
• Silicon Laboratories
• STMicroelectronics
• Texas Instruments Incorporated
• Renesas Electronics Corporation
Recent Developments:
• In January 2023, STMicroelectronics launched the STM32C0 series of 32-bit microcontrollers designed to bring advanced features and performance to cost-sensitive applications that traditionally use 8-bit microcontrollers.
• In July 2021, Texas Instruments (TI) launched a new lineup of Sitara microcontrollers (MCUs) designed to meet the needs of a wide range of industrial applications. The new Sitara AM2x MCU family is based on offers of a variety of performance, memory, and connectivity options to support a range of different applications.
IoT Microcontroller (MCU) Market Segmentation:
By Type
Based on the type, the market is trifurcated into 8-bit, 16-bit and 32-bit. The 32-bit microcontroller segment holds the largest share of the global market. The growth of this segment is attributed to its features such as high processing speed, and large memory capacity that are suitable for a wide range of IoT applications. The growing demand for high-performance microcontrollers to support advanced IoT applications, such as artificial intelligence, machine learning, and data analytics, is also driving the growth of the 32-bit microcontroller market. For instance, in May 2020, Epson launched a new 32-bit microcontroller with an Arm Cortex-M0+ processor, designed to offer high performance and power efficiency for a range of IoT applications. Therefore, the ability of 32-bit microcontroller to offer high performance speed is driving the growth of the market.
The 16-bit IoT microcontroller segment is expected to emerge as the fastest-growing segment during the forecast period. 16-bit microcontrollers offer greater processing power, larger memory capacity, and more advanced peripherals making them ideal for a wide range of IoT applications. Moreover, 16-bit microcontrollers are used in industrial automation, automotive, and consumer electronics applications where more complex functionality is required, thereby contributing to the growth of this segment. For instance, in April 2021, Renesas strengthened its RL78 family of low-power MCUs with the 16-bit general-purpose RL78/G23 designed to provide a high level of performance and low power consumption for a wide range of IoT applications.
By Application
Based on the application, the market is segmented into industrial automation, smart homes, consumer electronics, and smart wearables. The smart homes segment accounted for the largest revenue share in the year 2022. The increasing adoption of smart home devices and the availability of affordable IoT solutions are driving the growth of the smart homes segment. Smart homes require microcontrollers that are low-power, small, and are able to connect to a range of sensors and actuators. IoT microcontrollers are used for a wide range of smart home applications such as smart lighting, home automation systems, and security systems.
The consumer electronics segment is expected is register the fastest CAGR growth during the forecast period. The growth of this segment is attributed to the increasing demand for feature-rich electronic devices and the rising adoption of wireless communication technologies. IoT microcontrollers play a critical role by providing the processing power and connectivity required to support advanced features and functionality of electronic devices such as smartphones, tablets, and gaming consoles. For instance, in March 2023, Silicon Labs announced a new Bluetooth System-on-Chip (SoC) and Microcontroller Unit (MCU) that are designed specifically for small form-factor devices.
By Region:
Europe dominates the IoT microcontroller (MCU) market and accounted for the largest revenue share in the year 2022. The increasing adoption of Industry 4.0, smart city initiatives, and the growing demand for connected devices in the region is driving the growth of the regional market. Smart city initiatives involve the integration of IoT-enabled devices and technologies into industrial and urban environments, thereby demanding IoT microcontrollers for these applications. Furthermore, the presence of key players such as STMicroelectronics, NXP Semiconductors, and Infineon Technologies in the region is further contributing to the growth of microcontrollers market in the region.
The Asia-Pacific region is anticipated to witness the fastest CAGR growth during the forecast period. The Asia Pacific region has a large and rapidly growing industrial automation sector, driving the growth of IoT microcontroller market in the region. The region has a large and growing manufacturing sector, thereby increasing the demand for IoT-enabled automation solutions that help improve efficiency, reduce costs, and increase productivity. Furthermore, there are several government initiatives in the Asia Pacific region that are boosting the growth of the IoT microcontroller market. For instance, the Indian government launched Digital India program to promote the adoption of digital technologies, including IoT, across the country.
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| Multi user | : $5460 |
| Corporate user | : $7460 |
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