The Latin America, Middle East and Africa IoT Microcontroller Market is expected to witness market growth of 15.6% CAGR during the forecast period (2022-2028).
The growth of the IoT microcontroller market is fueled by the increasing penetration of smartphones. The increasing trend of bring-your-own-device, or BYOD, and cloud computing is propelling the market growth. The growing popularity of big data, cloud, and virtualization is also accelerating the adoption of IoT microcontrollers. During the forecast period, factors such as the increasing ubiquity of mobile devices and the rise in demand for mobility services are predicted to promote the growth of the IoT microcontroller market. Technological developments and increased automation across various industries are all factors boosting the market.
Recent evolution in the automotive industry is due to factors such as rapid innovations and developments across the automotive sector as a result of widespread use of the internet of things (IoT). In addition, the need for new goods and solutions is driven by an increase in the trend of working with automated equipment and machinery, the growth in the range of electronic products, along with technological advancements.
The high demand for electric and hybrid vehicles is anticipated to deliver various significant growth prospects for the market players operating in the microcontroller market in the future. Some other major drivers for regional market growth of MCUs are increasing demand for flexibility and agility in the industrial ecosystem. The rising integration of the internet of things (IoT) is also the factor that is driving the employment of IoT microcontrollers. The consumer electronics sector is expected to majorly complement the expansion of the market. Growing popularity to figure through automated machines and equipment is another key trend that is encouraging regional market players to bring more developments and advancements across these microcontrollers.
The Brazil market dominated the LAMEA IoT Microcontroller Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $171.9 million by 2028. The Argentina market is poised to grow at a CAGR of 16.2% during (2022-2028). Additionally, The UAE market is expected to display a CAGR of 15.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stakeholders 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 Country
The growth of the IoT microcontroller market is fueled by the increasing penetration of smartphones. The increasing trend of bring-your-own-device, or BYOD, and cloud computing is propelling the market growth. The growing popularity of big data, cloud, and virtualization is also accelerating the adoption of IoT microcontrollers. During the forecast period, factors such as the increasing ubiquity of mobile devices and the rise in demand for mobility services are predicted to promote the growth of the IoT microcontroller market. Technological developments and increased automation across various industries are all factors boosting the market.
Recent evolution in the automotive industry is due to factors such as rapid innovations and developments across the automotive sector as a result of widespread use of the internet of things (IoT). In addition, the need for new goods and solutions is driven by an increase in the trend of working with automated equipment and machinery, the growth in the range of electronic products, along with technological advancements.
The high demand for electric and hybrid vehicles is anticipated to deliver various significant growth prospects for the market players operating in the microcontroller market in the future. Some other major drivers for regional market growth of MCUs are increasing demand for flexibility and agility in the industrial ecosystem. The rising integration of the internet of things (IoT) is also the factor that is driving the employment of IoT microcontrollers. The consumer electronics sector is expected to majorly complement the expansion of the market. Growing popularity to figure through automated machines and equipment is another key trend that is encouraging regional market players to bring more developments and advancements across these microcontrollers.
The Brazil market dominated the LAMEA IoT Microcontroller Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $171.9 million by 2028. The Argentina market is poised to grow at a CAGR of 16.2% during (2022-2028). Additionally, The UAE market is expected to display a CAGR of 15.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stakeholders 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.
Scope of the Study
Market Segments Covered in the Report:
By Type
- 32-bit
- 16-bit
- 8-bit
- Consumer Electronics
- Smartphones
- Wearables
- Others
- Industrial Automation
- Smart Homes
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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
- Microchip Technology, Inc.
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. LAMEA IoT Microcontroller Market by Type
Chapter 5. LAMEA IoT Microcontroller Market by Application
Chapter 6. LAMEA IoT Microcontroller Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- 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
- Microchip Technology, Inc.
Methodology
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