Global IoT MCU market is expected to reach USD 3.56 billion by 2022, according to a new report by Grand View Research, Inc. IoT demands enhanced connectivity in several consumer devices owing to which microcontrollers integrating IoT applications with ultra-low power architecture are targeted. These ultra low power MCUs are primarily designed, to cater wireless devices.
Microcontroller industry is anticipated to benefit with the internet of things expansion over the next seven years. The technology offers opportunities for semiconductor manufacturers, particularly one that suggests companies should begin capitalizing now, while the sector is still developing. Additionally, another key factor associated with IoT MCU growth is how quickly industry participants can address and resolve issues such as inadequate security, meager consumer demand, technology barriers and lack of standards. The technology is here to stay, and is anticipated to help semiconductor industries to maintain or surpass current demand over the next few years.
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Further key findings from the report suggest:
- 32-bit segment is expected to grow at a CAGR exceeding 10% from 2015 to 2022. Previously, electronic designers largely used an 8-bit device often featuring the 8051 architecture; however with advances in technology as well as growing scope of application areas, 32-bit MCUs have emerged as the most obvious choice. While these changes are already in progress, internet of things has also predominantly influenced how microcontroller technology develops.
- In 2014, consumer electronics captured a sizeable market share accounting for over 30% of the overall revenue. Industrial automation is also expected to witness healthy growth underneath the IoT umbrella with the segment revenue exceeding USD one million by 2022.
- Home automation is also being viewed as a very lucrative segment as internet of things has considerably changed ideas pertaining to home electronics design, wherein microcontrollers play a pivotal role. Several manufacturers have taken this as a potential market expansion strategy and offer an array of products suited for this purpose.
- North America IoT microcontroller market accounted for more than 30% in 2014 owing to ongoing technological developments, and is expected to grow at a CAGR more than 9% from 2015 to 2022. Growing demand in the smart home segment is also expected to be a primary factor contributing towards regional market growth.
- High penetration of consumer electronics such as smart wearables, home appliances, smartphones, tablets, cameras, televisions, etc, is anticipated to fuel Asia Pacific internet of things MCU market over the forecast period.
- The semiconductor industry is highly competitive and characterized by constant and rapid technological advancements, price erosion, shorter product lifecycles and evolving standards. The success of this market relies heavily on the manufacturer’s ability to invest in R&D and develop new products. Key players operating in this industry include ARM, NXP Semiconductors, Atmel Corporation, Infineon Technologies, Broadcom Corporation, Microchip Technology Inc., NXP Semiconductors., Silicon Labs, STMicroelectronics and Texas Instruments.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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