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(Wireless-NewsWire.Com, November 23, 2018 ) According to the new market research “IoT Microcontroller Market, [By Type (8 Bit Microcontroller, 16 Bit Microcontroller, 32 Bit Microcontroller); By Application (Consumer Electronics, Automotive, Healthcare, Industrial Automation, Smart Homes, Others); By Region]: Market Size & Forecast, 2018 – 2026", The IoT Microcontroller market is expected to reach USD 5,170 million by 2026 from USD 2,255 million in 2017, at a CAGR of 9.7%.
IoT microcontrollers enable connectivity and control of devices that are connected to the internet. Microcontrollers are designed to perform specific functions, and they can be integrated into equipment such as industrial equipment, warehouse inventory items, wearables devices, home appliances and others. The different microcontrollers used for IoT include 8-bit microcontroller, 16-bit microcontroller, 32-bit microcontroller, and 64-bit microcontroller.
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Major Key Player in The IoT Microcontroller Market: -
NXP Semiconductors N.V, Infineon Technologies, Broadcom Corporation, Microchip Technology, Fujitsu Ltd, Holtek Semiconductor, Silicon Laboratories, Inc, Texas Instruments, Atmel Corporation, and Espressif Systems Pte. Ltd.
The growth in automation across various industries, and growing adoption of IoT has increased the demand for IoT microcontroller across the globe. The increasing penetration of mobile devices, growing internet penetration, and rising demand for mobility services has boosted the growth of the global IoT microcontroller market. The increasing trend of BYOD, IOT, cloud, virtualization, and big data analytics has further increased the adoption of IoT Microcontroller. The increasing implementation of smart meters, and technological advancements would provide growth opportunities in the IoT microcontroller market in coming years.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global IoT Microcontroller Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America generated the highest revenue in 2017 owing to increasing industrial automation in the region. Organizations are moving towards BYOD, IoT, big data analytics, and virtualization, thereby increasing the need for IoT Microcontroller in the market.
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Competitive Landscape
The global IoT microcontroller market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
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About Polaris Market Research
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