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IoT Microcontroller Market Trends

  • Report ID: GMI9852
  • Published Date: Jun 2024
  • Report Format: PDF

IoT Microcontroller Market Trends

The growing focus on low-power consumption and energy efficiency is an emerging trend on the IoT microcontroller industry. Longer battery lives are becoming essential for devices, such as wearables, sensors, and remote monitoring systems, as they grow more prevalent in many industries. The goal of manufacturers is to provide microcontrollers with low power consumption and good performance. Microcontroller designs are incorporating technologies such as sleep modes, ultra-low power consumption states, and effective power management systems. For applications in smart homes, healthcare, and industrial IoT—where devices frequently must run for prolonged periods without frequent battery replacements or recharging—this trend is especially significant.
 

The increasing integration of improved security features into IoT microcontrollers is another noteworthy trend. The likelihood of cyberattacks and data breaches rises with the number of connected devices. Manufacturers are incorporating sophisticated security features, such as tamper detection, secure boot procedures, and hardware-based encryption, into their microcontrollers to address these worries. Strong on-device security is also necessary given the rise of edge computing, which processes data locally on devices rather than sending it to the centralized servers. The increasing use of IoT in industries, such as healthcare, finance, and critical infrastructure, where data integrity and privacy are crucial, is driving this trend. As a result, there is a growing need for secure microcontrollers, which impacts the general market dynamics and product development tactics in the IoT microcontroller sector.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Industry size for IoT microcontroller was USD 5.1 billion in 2023 and will grow at 15% CAGR between 2024 and 2032, driven by the growing adoption of IoT devices across various industries, including smart home, industrial automation, and healthcare.

The smart home devices segment in the IoT microcontroller industry will register 15% CAGR through 2032, primarily due to the rising consumer demand for home automation, energy management, and security solutions.

Asia Pacific industry will record 35% share by 2032, propelled by rapid technological advancements, expanding internet connectivity, and the burgeoning consumer electronics industry.

Some of the key industry players are Microchip Technology Inc., NXP Semiconductors N.V., STMicroelectronics, Texas Instruments Incorporated, Espressif Systems, Silicon Laboratories, and Renesas Electronics Corporation, among others.

IoT Microcontroller Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 291
  • Countries covered: 21
  • Pages: 210
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