What is the global market size of Internet of Things (IoT) Microcontroller market?

Internet of Things (IoT) Microcontroller market size was valued at USD 4.69 billion in 2021 and is poised to grow from USD 5.29 billion in 2022 to USD 13.76 billion by 2030, growing at a CAGR of 12.7% in the forecast period (2023-2030).

Who are the key vendors in the Global Internet of Things (IoT) Microcontroller market?

Competitive Landscape in the global IoT microcontroller market put a lot of effort into extending their reach internationally through a variety of tactics, including partnerships, collaborations, and joint ventures. Some players are also spending a lot of money on R&D in order to improve their products and expand their market positions internationally. 'NXP Semiconductors', 'Texas Instruments', 'STMicroelectronics', 'Infineon Technologies', 'Microchip Technology', 'Cypress Semiconductor', 'Renesas Electronics Corporation', 'Silicon Laboratories', 'Analog Devices, Inc.', 'Marvell Technology Group', 'Nordic Semiconductor', 'Maxim Integrated', 'Espressif Systems', 'ON Semiconductor', 'Atmel Corporation', 'Toshiba Corporation', 'MediaTek Inc.', 'Samsung Electronics', 'Broadcom Inc.', 'Qualcomm Technologies Inc.'

Internet of Things (IoT) Microcontroller market Worldwide

Internet of Things (IoT) Microcontroller market Regional Insights

One of the world's main centres for the production of automobiles is in North America. The expansion of the local economy positively affected both the sales of passenger cars and commercial vehicles. The American Automotive Policy Council 2022 states that American automakers heavily invest in research and development, and automotive microcontrollers are influencing the automotive industry by increasing the demand for 8-bit microcontrollers as vehicle production rises. 8-bit microcontrollers are motivated by hybrid and autonomous vehicles. The strong demand for high-end applications across key end-user industries has made the North American market one of the top consumers of microcontrollers.

The IoT MCU market is anticipated to be dominated by Asia-Pacific, especially by China, India, and Southeast Asian nations. The market's expansion is due to an increase in the use of smart wearables, particularly among millennials and in the form of intelligent fitness trackers and wearables. The demand for IoT devices is anticipated to rise due to increased investment in 5G networks, thus, encouraging the growth of the IoT MCUs market over the forecast period. China, India, Japan, and Southeast Asian nations are the main market drivers. Growing government efforts to create modern, interconnected infrastructure are encouraging for market expansion. In addition, a growing preference for digital infrastructure, expanding urbanisation, and a quickening rollout of public Wi-Fi hotspots are expected to help attract higher revenues for this regional market in the projection period.

FAQs

Global Internet of Things (IoT) Microcontroller Market size was valued at USD 4.97 billion in 2023 and is poised to grow from USD 5.22 billion in 2024 to USD 7.78 billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).

Competitive Landscape in the global IoT microcontroller market put a lot of effort into extending their reach internationally through a variety of tactics, including partnerships, collaborations, and joint ventures. Some players are also spending a lot of money on R&D in order to improve their products and expand their market positions internationally. 'Ambiq Micro, Inc. (US) ', 'Analog Devices, Inc. (US) ', 'Broadcom Inc. (US) ', 'Espressif Systems (China) ', 'Holtek Semiconductor Inc (Taiwan) ', 'Infineon Technologies AG (Germany) ', 'Intel Corporation (US) ', 'Marvell Technology Group Ltd. (US) ', 'Mediatek Inc. (Taiwan) ', 'Microchip Technology Inc. (US) ', 'Nuvoton Technology Corporation (Taiwan) ', 'ROHM Semiconductor Co., Ltd. (Japan) ', 'Seiko Epson Corporation (Japan) ', 'Silicon Laboratories (US) ', 'STMicroelectronics (Switzerland) ', 'Texas Instruments Incorporated (US) ', 'Toshiba Electronic Devices & Storage Corporation (Japan)'

Intelligent devices termed as wearables can be embedded in clothing, implanted in the user's body, or worn as accessories. Wearables can be combined with IoT technology due to the downsizing of sensors and advancements in modern technologies such as Artificial Intelligence, Machine Learning, and Big Data Analytics.

The increasing buzz for the industry is the growing numbers of autonomous and electric vehicles that employ linked infrastructure. The Internet of Things refers to the connectivity of many devices over the Internet. MCU miniaturisation offers system designers a platform that mainly includes use-cases for novel, and emerging applications. This expanding ecosystem of IoT or connected devices, which includes smartphones, Smart TVs, tablets, home appliances, smart metres, and security systems, is expected to have a positive impact on the demand for IoT MCUs. Due to the miniaturisation of sensors and power sources as well as the ongoing development of dependable, seamless connectivity, wearable technology is projected to witness new business opportunities in the coming years.