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The IoT Microcontroller market estimated to expand from $1977 million in 2016 to $6490 million by 2024, at a CAGR of 16.06% during the forecast period. Expansion of internet of things market and increasing demand for automation across end-user industries are the primary drivers for the global IoT Microcontroller market.
The IoT Microcontroller market is segmented into Application, Type, and Geography. The IoT Microcontroller market on the basis of the application is segmented into Consumer Electronics and Home Appliances, Automotive, Industries (Including Smart Home), Medical, Security Id and Solar PV and Smart Grid. The IoT Microcontroller market is segmented on the basis of type into 8-BIT MCU, 16-BIT MCU, and 32-BIT MCU. On the basis of geography, the IoT Microcontroller market is segmented into North America, Asia-Pacific, and Europe. The introduction of smartphones and increasing demand for automation in the various end-user industries and the expansion of the internet of things market are the market drivers for the growth of IoT Microcontroller market.
Asia-Pacific IoT Microcontroller market is anticipated to hold the largest market share by the end of the forecast period. North America IoT Microcontroller market are estimated to be the largest developing market. The demand for automation in various end-user industries is creating scope for driving the market growth. Europe IoT Microcontroller market is anticipated to expand during the forecast period.
The leading players of the IoT Microcontroller market are Fujitsu, Atmel, Holtek, Infineon, Ixys Corporation, Renesas, Spansion, Texas Instruments, St Microelectronics, Microchip, Nuvoton, Nxp, Samsung