IoT Microcontroller Market 2019 Global Size, Share, Trends, Growth, Business Growth, Latest Innovations, Competitive Landscape, Potential of Industry Till 2023
The global IoT microcontroller market is projected to reach USD 4 billion at a CAGR of over 12% by the end of the forecast period by 2018 to 2023. IoT Microcontroller Market Research Report by Type, End-User, by Global Forecast till 2023.
Pune, India – May 31, 2019 /MarketersMedia/ —
Market Highlights:
The global IoT (Internet of Things) microcontrollers market is expected to exhibit a solid 12% CAGR over the forecast period from 2017 to 2023, rising to a valuation of USD 4 billion by 2023, according to the latest research report from Market Research Future (MRFR). The global IoT Microcontroller Market is mainly driven by the growing application areas being developed for the Internet of Things and the growing commercial prospects of the IoT field in the coming few years. The growing demand for connected ecosystems in urban areas round the world is likely to play a major role in driving the global IoT microcontrollers market over the forecast period.
The growing range of application areas for Internet of Things solutions is likely to be the major driver for the global IoT microcontrollers market over the forecast period. Industrial and automotive applications of IoT solutions have grown rapidly over the last few years, while consumer electronics are also carving up a significant share of the global IoT microcontrollers market and are likely to play a key role in the growth of the global IoT microcontrollers market over the forecast period.
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IoT microcontrollers comprise one of the two major parts of any IoT system: Sensors and microcontrollers. Sensors detect specific changes in the target, while the microcontroller is responsible for coordinating the response of the IoT unit to the changes detected by the sensor. The growing demand for IoT solutions is likely to drive the global IoT microcontrollers market at a rapid growth rate over the forecast period.
The growing demand for smart electricity meters across the world is likely to be a major driver for the global IoT microcontrollers market over the forecast period. Of all the potential applications of the Internet of Things, it is smart meters that have captured the world’s imagination at present, as they present a viable way of automating energy consumption data gathering and providing accurate, comprehensive, and expansive results with regards to the power consumption of individual buildings. The growing demand for automating the power management sector is likely to be a major driver for the global IoT microcontrollers market over the forecast period.
Competitive Analysis:
Leading players in the global IoT microcontrollers market include Intel Corporation, Samsung Group, Microchip Technology, Fujitsu Ltd., Texas Instruments, ST Microelectronics, Infineon, Freescale, and Atmel. The growing IoT microcontrollers market is likely to be characterized by the growing number of acquisitions over the forecast period, as smaller players specializing in certain specific areas of the technological ecosystem around the Internet of Things represent the perfect target for larger players looking to acquire a comprehensive share in the IoT market.
In April 2019, Microsoft acquired Express Logic, a California-based developer of real-time operating systems for IoT microcontrollers. Such acquisitions could go a long way in determining the eventual leadership in the global IoT microcontrollers market over the forecast period.
Segmentation:
The global IoT microcontroller market is segmented on the basis of product type and application.
The market is segmented by product type into 8 bit, 16 bit, and 32 bit IoT microcontrollers.
By application, the global IoT microcontrollers market is segmented into consumer electronics, automotive, industrial, healthcare, and others.
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Regional Analysis:
North America is likely to dominate the global IoT microcontrollers market over the forecast period due to the growing demand for smart homes, smart cars, and automated manufacturing in the region’s developed economies. The U.S. is the global leader in terms of adopting IoT technologies on a large scale and incorporating them into the day to day functioning of various industrial sectors, such as manufacturing, automotive, and construction. The growing demand for smart home technologies, typified by the major role played by the growing demand for smart meters in the growth of the global IoT microcontrollers market over the forecast period, is likely to be a major driver for the IoT microcontrollers market in North America over the forecast period.
Asia Pacific is likely to exhibit the fastest growth in the global IoT microcontrollers market due to the growing demand for IoT microcontrollers in the growing industrial sectors of countries such as China and India. The growing demand for smart electronics and devices such as smartwatches and smart television in Asia Pacific is also likely to be vital for the global IoT microcontrollers market over the forecast period.
Intended Audience
• Technology Investors
• Research/Consultancy Firms
• Software Providers
• System Integrators
• Government and Standardization Bodies
• Hardware providers
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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