Global IoT Microcontroller Market Size to worth USD 21.53 Billion by 2033: Market Insight Report

Global IoT Microcontroller Market Size to worth USD 21.53 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global IoT Microcontroller Market Size is Expected to Grow from USD 4.77 Billion in 2023 to USD 21.53 Billion by 2033, at a CAGR of 16.27% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global IoT Microcontroller Market Size, Share, and COVID-19 Impact Analysis, By Product (8 Bit, 16 Bit, and 32 Bit), By Application (Industrial Automation, Smart Home, Consumer Electronics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.           

IoT microcontroller is a small computer used in Internet of Things (IoT) applications to control and monitor different electronic devices and systems. They are inexpensive, have low power consumption, and can easily integrate into various devices. The rapid advancement of wireless technologies like 5G, Wi-Fi 6, and low-power wide-area networks (LPWAN) has increased the capabilities of the Internet of Things (IoT) and increased demand for advanced microcontrollers. By enabling devices to make quick decisions without depending on centralized cloud systems, IoT microcontrollers simplify data management. This is especially useful in applications where low latency is essential, such as industrial automation, autonomous driving, and healthcare monitoring. This trend creates opportunities for microcontroller manufacturers to differentiate through innovation in computing capabilities and embedded security features, allowing them to capitalize on the shift towards decentralized processing. The increasing connectivity demand and embedded intelligence and automation are significantly driving the market growth for IoT microcontrollers. Further, the advancement in wireless communication technologies and the adoption of smart home devices are propelling the market growth. On the contrary, the rapid technological changes and supply chain disruptions are hindering the market growth.

The 32 bit segment dominated the market with the largest revenue share in 2023.

Based on the product, the global IoT microcontroller market is divided into 8 bit, 16 bit, and 32 bit. Among these, the 32 bit segment dominated the market with the largest revenue share in 2023. Manufacturers of microcontrollers are preparing to supply the Internet of Things market with 32-bit devices that allow designers to reduce cost and power consumption. The demand for more robust processing power and memory to support advanced IoT functions like machine learning and data analytics is propelling the market.

The industrial automation segment is dominating the market with the largest share during the forecast period.

Based on the application, the global IoT microcontroller market is divided into industrial automation, smart home, consumer electronics, and others. Among these, the industrial automation segment is dominating the market with the largest share during the forecast period. The demand to lessen the need for human intervention in manufacturing operations to boost production speed, improve safety, and make better use of industrial analytics and resources in manufacturing drives the market in industrial automation.

North America is projected to hold the largest share of the global IoT microcontroller market over the forecast period.

North America is projected to hold the largest share of the global IoT microcontroller market over the forecast period. The increased need for smart home initiatives and demand for IT requirements are driving the market demand in the region. The need for IoT microcontrollers in North America is driven by developments in edge computing and analytics. The United States is positioned as a crucial market for IoT technology because of government and private sector investments in smart infrastructure that support continued growth.

Asia Pacific is predicted to grow at the fastest CAGR in the IoT microcontroller market over the forecast period. This is due to favorable government funding to support smart city efforts and the growing demand for smart wearables. Asia Pacific is a major growth area for IoT advancements because the region pushes for 5G adoption, which further speeds up IoT connectivity. Opportunities for Internet of Things microcontrollers are growing due to a large manufacturing base and strong customer demand for smart products.

Competitive Analysis

Major key players in the IoT microcontroller market include Broadcom, Espressif Systems (Shanghai) Co., Ltd., Holtek Semiconductor Inc., Infineon Technologies, Microchip Technology Inc., Nuvoton Technology Corporation, NXP Semiconductors, Silicon Laboratories, STMicroelectronics, Texas Instruments Incorporated, Renesas Electronics Corporation, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In October 2024, STMicroelectronics and Qualcomm Technologies International, Ltd. announced a collaboration aimed at advancing industrial and consumer IoT solutions empowered by edge AI. The companies plan to integrate Qualcomm’s wireless connectivity technologies, particularly Wi-Fi/Bluetooth/Thread combo system-on-a-chip (SOC), with ST’s microcontroller ecosystem.

• In August 2023, Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, and Sequans Communications S.A., a leader in 5G/4G cellular IoT chips and modules, announced that the two companies have entered into a memorandum of understanding (the “MoU”).

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global IoT microcontroller market based on the below-mentioned segments:

Global IoT Microcontroller Market, By Product

• 8 Bit
• 16 Bit
• 32 Bit

Global IoT Microcontroller Market, By Application

• Industrial Automation
• Smart Home
• Consumer Electronics
• Others

Global IoT Microcontroller Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa