Global Internet of Things (IoT) Microcontroller Market: Overview
With the importance interconnectivity increasing, Internet of Things is also gaining a good view and demand in the market. Microcontroller is also known as MCU alternatively. It is a SoC or system on chip that consists a memory, programmable output and input peripherals, and a core processor. In several cases, a little portion of a random access memory is also integrated in a microcontroller for enhanced performance. At present, microcontroller is employed substantially across many automated Internet of Things products and devices such as power tools, remote controls, office machines, automobile engine controls, and medical devices.
The robust enhancements in the application fields of Internet of Things is expected to meet the demands of technologically advanced products of a wide consumer base. This factor is expected to have a long term positive impact on the growth of the market. The deployment of smart meter across several residential and commercial sectors for closely monitoring the total consumption of energy is further expected to have a positive impact on the growth of the global Internet of Things Microcontroller market in the years to come. However, the power that is consumer by these microcontrollers is extremely high, thus hindering the growth of the market to some extent. Developing regions are expected to present market players enhance their consumer base and production units at the same time.
MCU, alternatively known as microcontroller is a system on chip (SoC) consisting of a memory, processor core and programmable input and output peripherals. In many cases, small amount of random access memory (RAM) is embedded in a MCU for better performance. Currently, microcontroller is used extensively across various automatically controlled Internet of Thing (IoT) devices and products such as medical devices, automobile engine control systems, office machines, remote controls, power tools and other portable devices.
In order to provide detailed analysis of the global microcontroller market, the market has been segmented on the basis of product type, application and geography. By product type, the global microcontroller market can be bifurcated into 8-bit MCU, 16-bit MCU and 32-bit MCU. IoT microcontroller also finds its application across various consumer electronic devices, automotive, medical devices, smart home products and smart grid among others. On the other hand, geographically the market can be classified into North America, Europe, Asia Pacific, Middle East and Africa and Latin America among others.
Rapid advancements in Internet of Thing (IoT) application in order to provide technologically advanced smart devices to various consumers, is the primary factor predicted to boost the demand of microcontroller at an exponential rate in the coming years. In addition, rising demand for automation across various application segment is also anticipated to accelerate the demand of smart devices during the forecast period from 2016 to 2024. This in turn is also predicted to affect the market of microcontroller positively. Moreover, rapid installation of smart meter across different commercial and residential sectors in order to monitor overall electric energy consumption and to report the information back to the utilities for automatic billing purposes is anticipated to trigger the demand of microcontroller during the forecast period.
However, high power consumption of microcontroller is one of the primary factor anticipated to affect the demand of microcontroller negatively. Microcontroller embedded in smart devices rely on batteries to consume required power for its efficient operation. This in turn decreases the lifecycle of batteries and is expected to increase the overall operating cost. In addition, security related issues of IoT devices is another important factor predicted to limit the demand of microcontroller in the coming years.
Based on product type, the 32-bit IoT microcontroller held the largest market share in 2015. The main reason behind this segments dominance is attributed to the extensive use of 32-bit IoT microcontroller across various IoT applications owing to its high RAM size and better performance. In addition, the price difference between 32-bit, 16-bit and 8-bit microcontroller is also very low. Thus, consumers incline towards 32-bit variant, there by anticipated to affect the market positively.
By application, the global market of IoT microcontroller is majorly driven by the consumer electronics segment. Increasing demand for technologically advanced consumer electronic devices across the globe such as smart wearable, mobile phones, tablets and computers among others, is anticipated to create an optimistic market for various microcontroller manufacturers during the forecast period from 2016 to 2024.
Across various regions, North America is anticipated to dominate the market of IoT microcontroller in the coming years owing to the presence of large number of manufacturers and rapid technological advancements taking place in the field of smart devices. However, Asia Pacific region is predicted to experience the fastest growing market during the forecast period. Rapid advancement taking place in the automotive industry in this region in terms of vehicle connectivity and interactive safety system is anticipated to leverage the demand of IoT microcontroller extensively in the coming years. In addition, increasing demand for various consumer electronic devices such as smart phones, tablets, smart television and smart watches among others is also predicted to propel the demand of microcontroller in this region.
Some of the major players operating in the IoT microcontroller market includes, Atmel (U.S), Freescale (U.S.A), Infineon (Germany), ST Microelectronics (Switzerland) and Texas Instruments (U.S) among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.