The North America IoT Microcontroller Market would witness market growth of 12.3% CAGR during the forecast period (2022-2028).
A microcontroller for IoT applications is a compact, self-contained control unit included in a single integrated circuit or microchip. These microcontrollers have a particular purpose and are frequently found in a wide range of devices like home electronics and smartphones. Microcontrollers for the Internet of Things have ROM, RAM, and other peripherals that allow them to do simple and fundamental tasks on their own. In addition, microcontrollers are used in IoT applications because of their ease of use, security, and low cost.
In conventional microcontrollers and CPUs, interfaces like Ethernet and USB are prevalent. Many new IoT gadgets, on the other hand, need a wireless connection. Wi-Fi and Bluetooth Low Energy have preferred technologies in this case, as they are already supported by smartphones and tablet PCs. Microcontrollers are increasingly being utilized in the automotive industry to automate processes. Increased mobility has stemmed from the high use of microcontrollers, which has resulted in automation as well as better subsystem design and lesser use of wires for connectivity. In addition, microcontrollers are single-purpose devices, and their use in the automotive industry has led to automation in a variety of areas, including Automatic Parking, Electronic Stability Systems, and Smart Phone-managed car security.
Due to the significant demand for high-end equipment across major end-user applications, this region is one of the biggest consumers of microcontrollers. One of the factors fueling the demand for the 8-bit microcontroller is the growing popularity of hybrid, electric, and autonomous vehicles. The industry is estimated to benefit from the growing popularity of e-bikes and mopeds. According to the IEA, in 2017, US cities teamed up to mass-purchase electric vehicles, around 110,000 electric vehicles, for public transportation. Industrial automation, smartphones, and smart infrastructure equipment like communications, meters, and electric vehicles are also driving microcontroller's demand in North America, particularly in the United States. Moreover, the rapid growth of IoT microcontrollers is also anticipated to surge owing to rising demand for smart home initiatives along with rising IT requirements, which drives market demand to this region.
The US market dominated the North America IoT Microcontroller Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,054 million by 2028. The Canada market is exhibiting a CAGR of 14.9% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 13.9% during (2022 - 2028).
Based on Type, the market is segmented into 32-bit, 16-bit, and 8-bit. Based on Application, the market is segmented into Consumer Electronics (Smartphones, Wearables, and Others), Industrial Automation, Smart Homes, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global IoT Microcontroller Market is Estimated to reach $9.9 Billion by 2028, at a CAGR of 13%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Silicon Laboratories, Inc., Espressif Systems Shanghai Co Ltd., Holtek Semiconductor, Inc., Renesas Electronics Corporation, STMicroelectronics N.V., Infineon Technologies AG, Texas Instruments, Inc., NXP Semiconductors N.V., Nuvoton Technology Corporation, and Microchip Technology, Inc.
By Type
By Application
By Country
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