The global IoT chip market size was valued at $10.33 billion in 2020, and is projected to reach $22.09 billion by 2026, growing at a CAGR of 13.5% during the forecast period.
• Growth and expansion of automobile sector, rising digitization, growing demand for automated operations by various industries are the factors inducing the growth of IoT chip market.
• Additionally, various cross-domain collaborations coupled with increased government funding on the technology and rising population coupled with increased internet penetration especially in the developing countries act as another indirect growth determinant.
• However, security and privacy concerns and lack of standard protocols will prove to be a hindrance in the way of market growth.
The Internet of Things (IoT) is a system for wirelessly connecting physical devices in a given location. Sensors, software, and other technologies are built into these devices, allowing them to send and receive data over a wireless link. As a result, an Internet of Things chip is a small electronic device that can be found in a variety of items, machines, and other equipment. It is a critical component of the IoT mechanism, and its absence will render the entire process useless. The personal and business opportunities have grown limitless as a result of the Internet of Things.
By End User, Building and Home Automation Segment to Lead the Market
The building and home automation segment is expected to have a huge demand during the forecast period. The rise of the building automation market is due to the desire for energy-efficient solutions, greater security, higher venture capital funding, and the continual need to improve living standards. Building automation, which began with wired technology, has now shifted to wireless technology, with ZigBee, Z-wave, EnOcean, Wi-Fi, and Bluetooth Smart technologies transforming the market. Furthermore, rising awareness of energy saving, strict regulation and building directives, promotion of several smart grid technologies, and the availability of a number of open protocols are propelling the building automation industry forward.
By Geography, North America Region is Projected to Strong Presence in the Global Market
North America is a critical market since it is home to some of the world's largest multinational firms in the IoT ecosystem, including Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US). The two key reasons driving the growth of the North American IoT chip market are increased R&D in the field of IoT, in terms of new and enhanced technologies, and the growing need for better lifestyles. Increased R&D at both the academic and industrial levels is expanding the application areas of IoT in various industries, including consumer electronics, retail, automotive and transportation, and healthcare, particularly in the United States. This is the primary driver of IoT application growth in North America.
List of the Key Players Profiled in the Market Include:
• Texas Instruments Incorporated
• Qualcomm Incorporated
• Intel Corporation
• MediaTek Inc.
• NXP Semiconductors N.V.
• Cypress Semiconductor Corporation
• Marvell Technology Group Ltd.
• Samsung Electronics Co., Ltd.
• Advanced Micro Devices (AMD)
• STMicroelectronics N.V.
• TE Connectivity Ltd.
• Renesas Electronics Corporation
• Huawei Technologies Co., Ltd.
• NVIDIA Corporation
• Microchip Technology Inc.
What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.
Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:
Market by, Product:
• Processor
• Sensor
• Connectivity IC
• Memory Device
• Logic Device
• Other Products
Market by, End User:
• Aerospace & Defense
• Agriculture
• Automotive & Transportation
• BFSI
• Building and Home Automation
• Consumer Electronics
• Energy management
• Entertainment & Media
• Healthcare
• Industrial
• Retail
• Wearable Devices
• Other End Users
Market by, Geography:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Table Of Content
1 Market Overview
1.1 Introduction
1.2 Research Objectives
1.3 Market Segmentation
1.4 Stakeholders
1.5 List of Acronyms
2 Executive Summary
3 Research Methodology
3.1 Identification of Data
3.2 Evaluation of Market Dynamics
3.3 Collaboration of Data
3.4 Verification and Analysis
3.5 Data Sources
3.6 Assumptions
4 Market Dynamics
4.1 Market Drivers
4.1.1 Increasing Application-Specific MCUs and Flexible SoC-type Designs
4.1.2 Surging Internet Usage
4.1.3 Rising Adoption of IPV6 Internet Protocol
4.1.4 Increasing inclination Toward utilization of AI and 5G Technologies
4.2 Market Restraints
4.2.1 Lack of Standardization of Communication Protocol Across Different Platforms
4.2.2 High Cost Associated with these Chipsets
4.3 Market Opportunities
4.3.1 Government Funding in Innovation and R&D related to IoT
4.3.2 Constant Technological Advancements in IoT
4.3.3 Increasing Smart Cities
4.4 Market Challenges
4.4.1 High Power Consumption of Connected Devices
4.4.2 Increasing Concerns Regarding Privacy and Security of Data
4.5 Impact of COVID-19 on IoT Chip Market
5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market
6 Global IoT Chip Market by, Product
6.1 Overview
6.2 Processor
6.3 Sensor
6.4 Connectivity IC
6.5 Memory Device
6.6 Logic Device
6.7 Other Products
7 Global IoT Chip Market by, End User
7.1 Overview
7.2 Aerospace & Defense
7.3 Agriculture
7.4 Automotive & Transportation
7.5 BFSI
7.6 Building and Home Automation
7.7 Consumer Electronics
7.8 Energy management
7.9 Entertainment & Media
7.10 Healthcare
7.11 Industrial
7.12 Retail
7.13 Wearable Devices
7.14 Other End Users
8 Global IoT Chip Market by, Geography
8.1 Overview
8.2 North America
8.3 Europe
8.4 Asia Pacific
8.5 South America
8.6 Middle East & Africa
9 Key Developments
10 Company Profiling
10.1 Texas Instruments Incorporated
10.1.1 Business Overview
10.1.2 Product/Service Offering
10.1.3 Financial Overview
10.1.4 SWOT Analysis
10.1.5 Key Activities
10.2 Qualcomm Incorporated
10.3 Intel Corporation
10.4 MediaTek Inc.
10.5 NXP Semiconductors N.V.
10.6 Cypress Semiconductor Corporation
10.7 Marvell Technology Group Ltd.
10.8 Samsung Electronics Co., Ltd.
10.9 Advanced Micro Devices (AMD)
10.10 STMicroelectronics N.V.
10.11 TE Connectivity Ltd.
10.12 Renesas Electronics Corporation
10.13 Huawei Technologies Co., Ltd.
10.14 NVIDIA Corporation
10.15 Microchip Technology Inc.
Report Details
| SKU Code | : DI2053 |
| Industry | : Information & Technology |
| Region | : Global |
| Tables | : 162 |
| Format | : Electronic PDF |
| Published | : 2023 |
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