The global IoT MCU Market is forecasted to reach USD 5.93 Billion by 2028, according to a new report by Reports and Data. The major factors attributed to the growth of the market are the rising demand for automation across end-users industries, growth in demand for wearable healthcare devices and other consumer electronics and advancement of IoT.

APAC is expected to hold the largest market and is forecasted to reach USD 1.61 Billion in 2028, at the highest CAGR of 15.28% during the forecast period followed by North America. This is mainly accredited to advancement in technology innovation and increasing adoption of the automation technologies in various industry verticals. Major application for industrial control and factory automation in Asia Pacific are oil & gas, semiconductor, electronics, automotive, chemicals, water and food. China is one of the primary players of this region for automation market. China has been working on developing more innovative industrial practice by implementing automated technologies in manufacturing sector.

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Further key findings from the report suggest

The development of IoT microcontroller unit is powered by the rising demand for smart houses, smart wearable, mobile phones, tablets and computers among others.
Swift deployment of smart meters across both commercial and residential sectors for the feedback of energy consumption are expected to aid market growth.
Increase in Internet applications in microcontrollers is the major reason for the growth of the market. The market for IoT MCUs are growing exponentially with advancement in technology.
The use of MCU with IoT to handle various operations like automobiles, processing needs and applications has increased rapidly and acts as an integral part of the smart grid systems.
The market segment for automotive is the major contributor in the market share for 8-bit IoT microcontrollers, with a market size of USD 2.25 billion in 2020, and will continue to dominate the market throughout the forecast period with a projected growth rate of 5.77%
IoT MCU is used for the security purposes of the home as a smart meter. With the growing adoption of smart devices and smart homes, the demand for IoT MCUs which can handle advanced tasks is expected to enhance the need for IoT MCU to build a smart home.
The market for smart home applications for 4-Bit type IoT MCUs is forecasted to reach USD 4.2 million in 2028, at the highest CAGR of 8.41% during the forecast period.
The market segment for consumer electronics is the major contributor in the market share for 8-bit IoT microcontrollers, with a market size of USD 140.1 Million in 2020, and will continue to dominate the market throughout the forecast period with a projected growth rate of 0.81% in 2028 followed by the automotive segment.
APAC is expected to hold the largest market in Industrial Automation for the IoT MCUs market and is forecasted to reach USD 259.8 million in 2028, at the highest CAGR of 16.42% during the forecast period.
Key participants include NXP Semiconductors N.V., Infineon Technologies AG, STMicroelectronics N.V., Microchip Technologies Inc., Cypress Semiconductor Corporation, Broadcom Inc., Maxim Integrated Inc., Silicon Laboratories Inc., Renesas Electronic Corporation, Holtek Semiconductors, Toshiba, Panasonic Corporation, Nuvoton Technology Corporation and others.

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Segments covered in the report:

IoT MCU Type Outlook (Revenue, USD Million; 2020-2028)

4-Bit
8-Bit
16-Bit
32-Bit

IoT MCU Application Outlook (Revenue, USD Million; 2020-2028)

Industrial Automation
Smart Home
Consumer Electronics
Automotive
Others (Security, Surveillance and Medical Devices)

On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.

Beneficial Aspects of the Report:

Global and region forecast of the IoT MCU market from 2020-2027
In-depth analysis of market dynamics, industry outlook, market size based on types and applications
Details of value chain analysis, supply and demand ratio, production and consumption patterns
SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
Detailed insights on competitive landscape and emerging market trends

Research Methodology:

The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.

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