PUBLISHER: Lucintel | PRODUCT CODE: 1304123
PUBLISHER: Lucintel | PRODUCT CODE: 1304123
The future of the global IoT microcontroller market looks promising with opportunities in the industrial automation, smart home, and consumer electronic markets. The global IoT microcontroller market is expected to reach an estimated $9.8 billion by 2028 with a CAGR of 12.4% from 2023 to 2028. The major drivers for this market are increasing adoption of Internet of Things (IoT) technologies, growing number of connected infrastructure for autonomous and electrified vehicles, and expanding use of connected consumer electronics like wearable devices across the globe.
A more than 150-page report is developed to help in your business decisions.
The study includes a forecast for the global IoT microcontroller market by product, application, and region, as follows:
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies IoT microcontroller companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the IoT microcontroller companies profiled in this report include:
Lucintel forecasts that 32 bit will remain the largest segment over the forecast period due to the significant use of this MCU (microcontroller) in industrial applications including factory automation and building automation owing to its ability to process multiple peripherals quickly.
Smart home is expected to remain the largest segment due to the increasing use of innovative app-controlled smart devices necessitates the need for secure, protected, and energy-saving software for HVAC, lighting, and entertainment system applications.
APAC will remain the largest region due to the supportive government spending in the development of smart cities, increasing adoption of smart wearable devices, and availability of affordable smart home devices in the region.
FAQ
Q1. What is the IoT microcontroller market size?
Answer: The global IoT microcontroller market is expected to reach an estimated $9.8 billion by 2028.
Q2. What is the growth forecast for IoT microcontroller market?
Answer: The global IoT microcontroller market is expected to grow with a CAGR of 12.4% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the IoT microcontroller market?
Answer: The major drivers for this market are increasing adoption of Internet of Things (IoT) technologies, growing number of connected infrastructure for autonomous and electrified vehicles and expanding use of connected consumer electronics like wearable devices across the globe.
Q4. What are the major segments for IoT microcontroller market?
Answer: The future of the IoT microcontroller market looks promising with opportunities in the industrial automation, smart home, and consumer electronic markets.
Q5. Who are the key IoT microcontroller companies?
Answer: Some of the key IoT microcontroller companies are as follows:
Q6. Which IoT microcontroller segment will be the largest in future?
Answer: Lucintel forecasts that 32 bit will remain the largest segment over the forecast period due to the significant use of this MCU (microcontroller) in industrial applications including factory automation and building automation owing to its ability to process multiple peripherals quickly.
Q7. In IoT microcontroller market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to the supportive government spending in the development of smart cities, increasing adoption of smart wearable devices, and availability of affordable smart home devices in the region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.