Globally, the size of IoT Microcontroller Market is set to grow at a CAGR of 12%, estimated to reach USD 4 Billion by 2027 driven by the increasing advancement in various enterprises regarding the use of internet of things applications in various fields driving the market demand in the global market.
Infrastructure monitoring is a monitoring system. It is designed for managing infrastructure by inspection of information and comparative data about the infrastructure. It helps to provide security and health of the infrastructure by collecting data at regular intervals to alert for unplanned downtime, network intrusion, and others. The properties of infrastructure monitoring are detecting problems at an early stage, real-time data, performance monitoring and others, making it reliable for the market.
The main infrastructure monitoring players have been aiming to improve more technological advancement in this field, which offers more demand for infrastructure monitoring in the market. The infrastructure monitoring market applications are in various areas such as aerospace & defence, mining, energy, civil infrastructure, and others.
The outburst of the COVID-19 has badly impacted the business of almost all markets. After the covid-19 took the deadliest turn and the spread increased, the government imposed a lockdown and a ban on transportation. However, this has extremely affected the growth of the infrastructure monitoring market.
Due to the pandemic, the supply chain systems were interrupted as numerous raw materials depended on imports from other countries. Therefore, the strict regulations of the governing bodies to follow the social distancing norms forced the industries to work with a limited workforce, which led to the decline of the production rate of sectors. These all factors affected the growth of the infrastructure monitoring market.
The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. During the lockdown situation, the supply chain network was disrupted which leads to low market supply. But with the growing adoption of the Internet, as various corporates have started work for home, they require the adoption of various internet of things along with its microcontroller which shows that COVID 19 has a positive effect on the IoT microcontroller market.
The internet of thing (IoT) microcontroller market is showing positive growth in the global market and it is expected to grow furthermore in the coming year all across the globe by the end of the coming year.
Numerous factors drive the market demand in the global market. Increasing advancement in various enterprises regarding the use of internet of things applications in various fields drives the market demand in the global market during the forecasted period. Increasing a wider consumer base that demands technologically advanced products fuel the market demand during the review period. The increasing initiative taken by the government for the establishment of smart cities boosts the market demand all across the globe. Also, the increasing trend in the adoption of cloud and BYOD creates more market demand.
The rise in the demand for IoT microcontroller market in the global market. Increasing adoption of virtualization, big data, and cloud due to the global pandemic of COVID 19 provides various growth opportunities in the global market during the forecasted period. Moreover using these microcontroller chips results in quick addressing and solving the issues related to technical barriers, meager consumer demand, lack of standards, and inadequate security creates several growth opportunities all across the globe during the forecasted period.
Though the IoT microcontroller market is increasing tremendously in the global market, some factors restrict its growth. One of the restraining factors is the lack of standardization in the applications using the internet of things which hampers the market growth in the global market. Moreover, increasing privacy and security concerns while using IoT also hamper the market growth during the forecasted period. Additionally, increasing power consumption leads to higher costs which are not afforded by many countries of underdeveloped regions restrict the market growth.
Value Chain Analysis
The IoT microcontroller market is increasing at an incredible rate globally due to various benefits associated with it. It helps in monitoring the data. It enables the users’ ease of access which creates more market demand all across the globe. Using these microcontroller technology results in speedy operation. These applications are flexible and can be easily adjusted according to the new standards. Moreover, the adoption of these technologies in an enterprise results in better time management.
The IoT microcontroller market has been divided all across the globe based on type, application, and region.
Based on the Type
The IoT Microcontroller Market has been divided all across the globe based on the type into 32 bit IoT microcontrollers, 16 bit IoT microcontrollers, and 8 bit IoT microcontrollers.
Based on the Application
The IoT Microcontroller Market has been divided all across the globe based on the application into the healthcare industry, industries sector, automotive industry, consumer electronics industry, and others.
Based on the Region
The IoT Microcontroller Market has been divided all across the globe based on the region into the North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region.
The IoT microcontroller market has been divided all across the globe based on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. The largest market share in the market all across the globe is held by the North American region owing to increasing demand for smart home initiatives coupled with increasing requirement for IT requirements drives the market demand to this region. Moreover, the presence of various giant manufacturers in this region drives the market demand.
Being the fastest-growing region, the second-largest market share in the IoT microcontroller market all across the globe is held by the Asia-Pacific region owing to increasing technological advancement in the automotive industry required especially in interactive safety systems and vehicle connectivity systems, and hence drives the market demand towards this region during the forecasted period.
The third-largest market share in the IoT microcontroller market all across the globe is held by the European region owing to increasing demand for smartwatches, smart televisions, tablets, smartphones, and various other consumer electronic devices that drives the market demand in this region. Moreover, the presence of various giant manufacturers of electronic devices fuels the market growth.
The least market share is held by the Latin American region and the Middle East and African region owing to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.
The most prominent major key players in the IoT microcontroller market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the IoT microcontroller market in the global market by going for mergers, and acquisitions, by collaborating, establishing a partnership, developing a new production process, setting up a new joint venture, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the IoT microcontroller all across the globe.
The Year 2021
The SISGEO and SNCF announced their collaboration in developing IOT solutions to monitor the railway infrastructure. A new instrument was introduced to measure the "dance" of the rail with the static rail inclination.
This global IoT microcontroller market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the IoT microcontroller market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth in the market during the forecasted period are mentioned. The impact of COVID 19 on the market all across the globe is mentioned. The future growth rate in the IoT microcontroller market during the forecasted period is estimated and mentioned.
Hardware providers, government bodies, standardization bodies, system integrators, software providers, research firms, consultancy firms, technology investors, and many others.
|Market Size||USD 4 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Type,|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Atmel (U.S), Freescale (U.S.), Infineon (Germany), ST Microelectronics (Switzerland), Texas Instruments (U.S), Fujitsu Ltd (Japan), Microchip Technology (U.S.), Samsung Group (South Korea), Intel Corporation (U.S.)|
|Key Market Opportunities||The rapid technological advancements in the smart devices segment are fueling the market growth in the North American region.|
|Key Market Drivers||The key factors driving the market include advancements in the application of fields of the internet of things to meet the demands of technologically advanced products of a wide consumer base.|
Atmel, ST Microelectronics, Texas Instruments, Infineon, and Freescale, are some notable contenders in the worldwide IoT microcontroller market.
Technically advanced products have a large consumer base. It is a major reason due that can cause the global IoT microcontroller market to expand at about 12%b CAGR across the forecast period and attain a valuation of about USD 4 billion by 2027, suggests MRFR.
32 bits microcontrollers are deployed in medical appliances, microcontrollers of size 16 bits offer greater accuracy. And, 8 bits microcontrollers are extensively used to carry out arithmetic and logic operations. The availability of different types of microcontrollers that can meet different industrial requirements can propel the expansion of the IoT microcontroller market.
8 bit, 32 bit, and 16 bit are different types of IoT microcontrollers that are available in the market. The increase in the generation of data is creating the need for more memory space. Hence, the 32 bit IoT microcontrollers are observed to gain high popularity. In addition, it is also noted that these IoT microcontrollers offer more space than their mentioned size, which is expected to make a significant contribution to the expansion of the market.
Large scale application of IoT microcontrollers and seamless collection of data offered by them are observed as major growth factors for the expansion of their market.