Internet of Things (IoT) Microcontroller market Size, Share, Growth Analysis, By Product(8 Bit, 16 Bit, and 32 Bit), By Application(Industrial Automation, Smart Homes, Consumer Electronics (Smartphones, Wearables)), By Region - Industry Forecast 2024-2031

Internet of Things (IoT) Microcontroller market size was valued at USD 4.69 billion in 2021 and is poised to grow from USD 5.29 billion in 2022 to USD 13.76 billion by 2030, growing at a CAGR of 12.7% in the forecast period (2023-2030).

The mechanism of connecting actuators, sensors, or any device to the Internet is known as the "Internet of Things (IoT)." It may result in a significant shift in how users interact with appliances, smart metres, security sensors, and HVAC systems. IoT vastly expands the connection of things and people. The increased adoption of the Internet of things is a result of the increasing interconnectedness of machines and personal smart devices. Additionally, the rise in cloud computing & analytics, and the proliferation of applications connecting partners, supply chains, and customers is also projected to augment the demand for IoT microcontrollers. Concerns about preserving the enormous amount of data that IoT devices store and communicate are growing as a result of the IoT's rapid growth. This is further anticipated to help promote the growth of the global Internet of Things microcontroller market during the forecast period.

Data security concerns are solved or reduced by the use of microcontroller units (MCUs) that offer encryption, decryption, and authentication techniques. To prevent IoT devices from being corrupted, MCUs enable tamper detection, code protection, and enhanced security features. MCUs for IoT applications have a variety of hardware and software characteristics, such as autonomous peripherals that function in low-energy modes, ultra-low-power modes with quick wake times, and software tools for energy profiling and power estimation.

US Internet of Things (IoT) Microcontroller market  is poised to grow at a sustainable CAGR for the next forecast year.