| Study Period | 2019 - 2030 |
| 2024 Market Size | USD 6,213.6 Million |
| 2025 Market Size | USD 7,105.8 Million |
| 2030 Forecast | USD 13,898.0 Million |
| Growth Rate (CAGR) | 14.4% |
| Largest Region | Asia-Pacific |
| Fastest Growing Region | Asia-Pacific |
| Nature of the Market | Fragmented |
| Largest Application Category | Consumer Electronics |
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The IoT microcontroller market size was estimated at USD 6,213.6 million in 2024, and it is expected to grow at a CAGR of 14.4% during 2024–2030, reaching USD 13,898.0 Million by 2030.
The increasing usage of IoT across various sectors is predicted to drive the global market forward over the forecast period. Furthermore, the demand for connected products, such as tablets, household appliances, televisions, smartphones, security systems, and gaming consoles, is likely to grow, thereby propelling the market.
Another factor predicted to boost the market growth in the near future is the rising inclination for automation across various sectors. Technological improvements in IoT applications, which will provide customers with improved and new smart products, are likely to boost the demand for microcontrollers over the forecast period.
Furthermore, the rapid installation of smart meters across various commercial and residential spaces is expected to drive the demand for microcontrollers in order to monitor overall electrical energy consumption and report the information to the utilities, for automated billing purposes.
One of the biggest trends in the market is the efforts being put in for achieving higher energy efficiency around the world. With the increasing knowledge on the exhaustible nature of fossil fuel resources, people’s focus on reducing electricity usage is rising. In the context of wearable and other consumer electronic devices, a longer battery life can help fulfill this purpose.
Therefore, semiconductor and electronic component manufacturers are offering microcontrollers that consume less power without compromising on performance. The current and next generations of these devices come with power management features and sleep modes, to enhance battery life, particularly for equipment that must run nonstop. This can include medical systems, industrial machines, and consumer appliances with IoT.
Further, these microcontrollers are being incorporated with better safety features because IoT devices are at a perpetual risk of cyberattacks. Secure boot procedures, a temper-proof design, and hardware-based encryption are common in these microcontrollers. This is even more important in the current era of , wherein the data is stored and processed on devices locally instead of a centralized storage facility. The security of IoT devices is paramount in industries such as aerospace & defense, healthcare, and BFSI, where the data is critical and must be protected at all costs.
The biggest driver for the market is the smart manufacturing revolution around the world. With a focus on enhancing productivity, reducing operating expenses, and lowering energy consumption, industries continue to automate their manufacturing processes. By integrating machines with the IoT technology, they are able to communicate with each other and send data to a central control room. This enables operators to continuously monitor their performance and look for potential issues before they cause a breakdown. Moreover, with this technology, machines can even optimize their performance based on the requirement, also reducing wastage and chances of product defects.
Governments around the world have implemented policies and programs to boost smart manufacturing and become an industrial power. Among these, the Make in India, Made in China and Making Indonesia 4.0 initiatives are significant, as they are backed by heavy investment in smart, connected factories and logistics chains.
The healthcare industry has undergone significant transformations in recent years due to the improvements in computer-embedded technology, wireless devices, and data analytics techniques, such as big data. Additionally, IoT technologies are transforming clinical research by allowing for the analysis of large amounts of highly complex medical information, including genomic data, bioinformatics, and . The adoption of IoT and Wi-Fi, as well as investments in healthcare devices, is likely to provide attractive opportunities in the sector, thus accelerating the IoT microcontroller market's development in the future.
For instance, the global population of people aged 60 and above will increase approximately by 16% by 2030 and 22% by 2050. This is leading to an increase in the burden of chronic diseases, which affect 6 in 10 Americans each year, thus driving the demand for patient monitoring devices in the U.S.
During the pandemic, companies across sectors made employees work from home, which resulted in a surge in the demand for IoT-enabled smart gadgets, wearables, PCs, and mobile phones. The COVID-19 pandemic has raised public awareness about health, fitness, and general wellbeing. As a result, wearables that can monitor and track a number of health parameters, such as oxygen levels and the heart rate, have seen a huge increase in demand.
However, the semiconductor manufacturing business was devastated by the COVID-19 outbreak. Manufacturers of microcontrollers had a difficult time balancing the supply and demand, as several production facilities and international commerce crossings were temporarily shut down.
The report contains insights on the following products:
We have covered the below-mentioned applications in the report:
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The following is the regional analysis of the market:
The IoT microcontrollers market is fragmented as the IoT sector is expanding, and new businesses are emerging. Product launches are being used by players in the IoT microcontroller market to widen their global reach. Since the wide variety of applications for these components often require specialized devices, players must cater to users’ customization requirements. Already, a huge variety of IoT microcontrollers in different sizes, functionalities, and power ratings are available for different purposes. To prevent losing money due to regulatory infractions, businesses are concentrating their efforts on designing products that adhere to regional regulatory requirements.
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