Despite the Presence of ~200 Competitors Comprising a Large Number of Country-Niche Players and Regional Players, ~40% of Market Revenue Share is Held by the Global Players; finds a recent market study on Global IoT Microcontroller Market by Ken Research
A microcontroller unit (MCU) is a small, self-contained computer that comprises a single integrated circuit, or microchip. IoT Microcontrollers are designed to perform specific functions and can be integrated into almost anything ranging from industrial equipment, warehouse inventory items, and wearables devices, to home appliances, and others.
Microcontrollers are used in a wide array of systems and devices. Devices often utilize multiple microcontrollers that work together within the device to handle their respective tasks.
Ken Research shares 3 key insights on IoT Microcontroller Market from its latest research study.
1. Country Niche Players Constitute ~50%, While Regional Companies Comprise ~35% in terms of the Total Number of Players
A comprehensive competitive analysis conducted during the Research Study found that the Global IoT Microcontroller Market is highly competitive with ~200 players, including globally diversified players, regional players, and a large number of country-niche players with their niche in IoT technology for multiple end-user industries.
The major global companies Broadcom, Holtek Semiconductor Inc., Infineon Technologies, Microchip Technology Inc., Nuvoton Technology Corporation, NXP Semiconductors, STMicroelectronics, Renesas Electronics Corporation, Silicon Laboratories, and Texas Instruments Incorporated are expected to maintain their leading positions during the forecast period. The global players are more focused on R&D to develop new technology in IoT.
2. Ongoing Efforts to Provide IoT Solutions and Microcontroller Units to End-User Industries Are Driving Their Revenue Growth In This Market.
Detailed comparative analysis of key competitors available within the Research Study shows that several IoT Microcontroller providers are indulging in partnership, acquisition, and product launch to expand the IoT Microcontroller Market in various regions. Moreover, various companies are also investing in IoT technology from a growth perspective.
- In September 2021, NXP Semiconductor collaborated with MicroEJ, a company specializing in software enablement solutions for IoT and embedded devices, to provide the MICROEJ VEE on-device platform. The partnership enables the latter company to offer an integrated solution to enhance the former company's performance of i. MX RT500 Crossover MCUs for low-power applications such as wearables.
- In April 2021, Nuvoton Technology Corporation launched NuMicro M0A23/M0A21 series MCU. The MCU is suitable for automotive and industrial applications. The MCU offers analog and digital peripherals in SSOP20 TSSOP28 packages and is ideal for small form factor applications such as automotive lighting, battery management system, automotive body control, power applications, and automotive ultrasonic radar control.
3. Increased Government and Manufacturers’ Initiatives Promoted IoT Technology Growth and Development
- In 2021, the Ministry of Electronics and Information Technology, Government of India approved Rs 436.87 Crores in the FutureSkill PRIME project to create an ecosystem to reskill and upskill upcoming technologies including IoT. The Government of India is also actively taking initiatives via the ‘Smart Cities Mission and ‘Digital India’ in IoT technologies and solutions to provide a sustainable future environment.
- The US government has taken initiative in 2020 to support emerging IoT companies through targeted investments in research and development (R&D). The US government invested US$ 140 billion in federally funded R&D programs across 300 government-owned, government-operated (GOGO) laboratories across the country.
For more information on the research report, refer to the below link:-
Global IoT Microcontroller Market
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