IoT MCU Market in APAC Dominated by Consumer Electronics Applications 2028

global IoT MCU Market is forecasted to reach USD 5.93 Billion by 2028, according to a new report by Reports and Data.

NEW YORK, NEW YORK, UNITED STATES, June 7, 2023/EINPresswire.com/ --
 

The global IoT MCU Market is forecasted to reach USD 5.93 Billion by 2028, according to a new report by Reports and Data. The major factors attributed to the growth of the market are the rising demand for automation across end-users industries, growth in demand for wearable healthcare devices and other consumer electronics and advancement of IoT.

APAC is expected to hold the largest market and is forecasted to reach USD 1.61 Billion in 2028, at the highest CAGR of 15.28% during the forecast period followed by North America. This is mainly accredited to advancement in technology innovation and increasing adoption of the automation technologies in various industry verticals. Major application for industrial control and factory automation in Asia Pacific are oil & gas, semiconductor, electronics, automotive, chemicals, water and food. China is one of the primary players of this region for automation market. China has been working on developing more innovative industrial practice by implementing automated technologies in manufacturing sector.

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Some of the application sectors where the demand for IoT is on the rise include:

Industrial automation: IoT enables connectivity and automation in industrial settings, leading to improved efficiency, reduced costs, and enhanced safety.
Smart appliances: IoT allows appliances such as refrigerators, washing machines, and thermostats to connect to the internet, enabling remote monitoring, control, and automation features.
Smart grids: IoT technology helps in creating smart grids that optimize energy distribution, improve power management, and enable better integration of renewable energy sources.
Home automation: IoT enables the creation of smart homes, where various devices and systems, such as lighting, security, entertainment, and heating, can be interconnected and controlled remotely.
Smart cities: IoT plays a crucial role in building smart cities by facilitating efficient management of resources, enhancing infrastructure, improving public services, and promoting sustainability.
Regarding your mention of smart watches, they are indeed a popular example of IoT devices. Smartwatches offer a wide range of monitoring capabilities, including tracking activities such as running, cycling, workouts, and swimming. They provide real-time data, personalized insights, and connectivity features, contributing to their increasing popularity among fitness enthusiasts and athletes.

the widespread adoption of IoT is evident in various sectors, including industrial automation, smart appliances, smart grids, home automation, smart cities, and the growing use of IoT-enabled devices like smartwatches.

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Competitive landscape: 

The global IoT MCU market is extremely competitive and comprise of various key players operating at regional and global levels. These key players are involved in adopting various strategies such as partnerships, new product launches, collaborations, mergers and acquisitions to gain robust footing in the market and enhance their product base. The report offers details about every player in the global IoT MCU market including financial standing, global positioning, R&D investments, license agreement, and product services. Some of the leading players are listed below:

NXP Semiconductors N.V., Infineon Technologies AG, STMicroelectronics N.V., Microchip Technologies Inc., Cypress Semiconductor Corporation, Broadcom Inc., Maxim Integrated Inc., Silicon Laboratories Inc., Renesas Electronic Corporation, Holtek Semiconductors, Toshiba, Panasonic Corporation, Nuvoton Technology Corporation and others.

Global IoT MCU market segmentation:

IoT MCU Type Outlook (Revenue, USD Million; 2020-2028)

4-Bit
8-Bit
16-Bit
32-Bit
IoT MCU Application Outlook (Revenue, USD Million; 2020-2028)

Industrial Automation
Smart Home
Consumer Electronics
Automotive
Others (Security, Surveillance and Medical Devices)
Regional Outlook:

North America
US.
Canada
Mexico
Europe
Germany
Italy
UK.
Rest of EU
Asia Pacific
India
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
A.E
Rest of MEA
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