Lucintel's latest market report analyzed that IoT microcontroller provides attractive opportunities in the industrial automation, smart home, and consumer electronic markets. The IoT microcontroller market is expected to reach $9.8 billion by 2028 with a CAGR of 12.4%. In this market, 32 bit is the largest segment by product, whereas smart home is largest by application.

Based on product, the IoT microcontroller market is segmented into 8 bit, 16 bit, and 32 bit. The 32 bit segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the significant use of this MCU (microcontroller) in industrial applications including factory automation and building automation owing to its ability to process multiple peripherals quickly.

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The IoTMicrocontroller Market is marked by the presence of several big and small players. Some of the prominent players offering IoT microcontroller include Broadcom, Espressif Systems, Holtek Semiconductor, Infineon Technologies, Microchip Technology, and Nuvoton Technology.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link helpdesk@lucintel.com.

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