The global IoT chip market is anticipated to grow from USD 415.0 billion in 2021 to USD 735.6 billion by 2032, with a CAGR of 5.3%. The expansion of internet connectivity in countries with advanced technology as well as the emergence of inexpensive smart wireless sensor networks are key factors in the IoT chip market’s expansion.
The IoT chip market is likely to be driven by the adoption of IPv6, which provides more IP address space, and technologies like AI that promote IoT adoption. User data security and privacy issues serve as market restraints for IoT chips.
The Internet of Things (IoT) chip market refers to the semiconductor industry that produces specialized chips or microcontrollers to enable connected devices to exchange data with each other or with the cloud. These chips may include sensors, wireless connectivity modules, processors, and memory, and are typically designed for low-power and low-cost applications.
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How Competition Influences the IoT Chip Market?
The main companies profiled in the IoT chip market study are Intel Corporation, Texas Instruments Incorporated, Qualcomm Incorporated, NXP Semiconductors N.V., and Marvell Technology Group Ltd.
The global IoT chip market was led by Intel Corporation (Intel) (US). Intel is a corporation that is perfectly positioned to power the cloud as well as various smart and connected computer devices. Intel provides computing, networking, and communication platforms to a diverse range of clients, including OEMs, ODMs, cloud and communication service providers, and makers of industrial, communications, and automotive equipment.
The IoT chip market is also being driven by the emergence of new wireless technologies such as 5G, which promises faster and more reliable connectivity for IoT devices, and the increasing adoption of edge computing, which allows data processing and analysis to be done closer to the source of the data rather than in the cloud. These trends are expected to create new opportunities for IoT chip manufacturers and accelerate the growth of the market in the coming years.
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Key Players
- Intel Corporation
- Texas Instruments Incorporated
- Qualcomm Incorporated
- NXP Semiconductors N.V.
- Marvell Technology Group Ltd.
Which is the Leading Region in the IoT Chip Market?
Due to increased research and development in the field of IoT, in terms of new and improved technologies, and the rising need for better lifestyles, the USA dominates the IoT chip market.
The expansion of research and development at both the academic and industrial levels is broadening the application areas of IoT in various industries, such as customer electronics, retail, automotive and transportation, and healthcare, primarily in developing countries, which is a critical factor further boosting the growth of the IoT chip market.
Key Segments
By Hardware:
- Processors
- Connectivity Integrated Circuits (ICs)
- Sensors
- Memory devices
- Logic devices
By Power Consumption:
- Less than 1 W
- 1-3 W
- 3-5 W
- 5-10 W
- More than 10 W
By End-use Application:
- Wearable Devices
- Healthcare
- Consumer Electronics
- Automotive & Transportation
- Building Automation
- Manufacturing
- Retail
- BFSI
- Oil & Gas
- Agriculture
- Aerospace & Defense
Key Region:
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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