Market Highlights
The global IoT chips market is projected to register a CAGR of 5.9% during the forecast period, 2020–2026.
Key Segments
The global IoT chips market has been segmented based on product, end user, and region.
By product, the market has been segmented into processors, sensors, connectivity ICs, memory devices, logic devices, and others.
By end user, the market has been segmented into consumer electronics, automotive & transportation, healthcare, retail, BFSI, agriculture, entertainment & media, and others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Regional Analysis
According to Market Research Future, the global iot chips market has been segmented based on product, end user, and region.
Technological advancements, coupled with the increasing trend of Industry 4.0, has encouraged the adoption of IoT and smart devices by consumers. This adoption has fueled the demand for IoT chips across the globe. Also, the innovations in the development of low-cost smart wireless sensor networks have contributed to market growth. However, concerns regarding security and privacy of user data, the high power consumption of connected devices, and lack of standards and communication protocols are some of the factors that are anticipated to restrict the growth of the market over the forecast timeframe.
By product, the market has been segmented into processors, sensors, connectivity ICs, memory devices, logic devices, and others. The proliferation of connectivity technologies such as Ethernet, IP, Wi-Fi, and Bluetooth is expected to fuel the demand for connectivity ICs during the forecast period. The processors in IoT devices are responsible for supporting real-time data monitoring and analytics in a network. Whereas, memory devices, comprising on-chip memory and off-chip memory, provide high-speed performance with reduced power consumption in servers, PCs, and mobile devices.
Europe accounts for the second-largest market share in the IoT chips market. Germany held the largest share of Europe’s IoT chips market in 2019 due to the presence of the automobile industry in the country and the increasing adoption of IoT devices by consumers. On the other hand, France is expected to be the fastest-growing country-level market in the region during the forecast period.
North America is projected to be the fastest-growing regional market during the forecast period. The region has a major presence of small and medium enterprises that have commenced the adoption of IoT in their enterprises, which is expected to fuel the market growth. Technological advancements and increasing investments by the manufacturing industries for enhancing their product quality are key factors responsible for the market growth in this region.
Key players
MRFR recognizes the key players in the global IoT chip market as Intel Corporation (US), Qualcomm Technologies, Inc (US), Texas Instruments Incorporated (US), NXP Semiconductors NV (Netherlands), Microchip Technology Inc. (US), MediaTek Inc. (Taiwan), STMicroelectronics NV (Switzerland), Renesas Electronics Corporation (Japan), Huawei Technologies Co., Ltd. (China), NVIDIA Corporation (US), Cypress Semiconductor Corporation (US), Advanced Micro Devices, Inc. (US), Samsung Electronics Co., Ltd. (South Korea), MediaTek Inc. (Taiwan), Microchip Technology Inc. (US), Silicon Laboratories. (US), Telit (Italy), Nordic Semiconductor ASA (Norway), Semtech Corporation (US), Marvell (Bermuda), and AMD (US), among others. The prominent players keep innovating and investing in research and development to offer a cost-effective product portfolio. There have been recent mergers & acquisitions among the key players, a strategy that business entities employ for strengthening their reach to the customers.
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IoT Chips Market Research Report: By Product (Processors, Sensors, Connectivity ICs, Memory Devices, Logic Devices and Others), End-User (Consumer Electronics, Automotive & Transportation, Healthcare, Retail, BFSI, Agriculture, Entertainment & Media and Others) and Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2027