Global $357 Bn IoT Chip Market Size, Share, Trends, Opportunities, and Forecasts, 2018-2023 and 2023-2028F - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "IoT Chip Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.

Global IoT Chip Market was valued at USD 357.60 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.19% through 2028.

The proliferation of IoT devices and applications is a primary driver of the global IoT chip market. IoT technology is being integrated into various industries, including healthcare, smart cities, agriculture, and manufacturing. These applications require specialized chips that can enable connectivity, sensor data processing, and communication.

As the number of IoT devices continues to grow, so does the demand for IoT chips. In agriculture, for instance, IoT sensors are used to monitor soil conditions and optimize irrigation. In healthcare, wearable IoT devices collect patient data for remote monitoring. These diverse applications drive the need for a wide range of IoT chips tailored to specific use cases, spurring innovation and growth in the market.

Advancements in wireless connectivity technologies, such as 5G, Wi-Fi 6, and low-power wide-area networks (LPWAN), are driving the IoT chip market. These technologies enable faster and more reliable data transmission between IoT devices and the cloud or edge servers. As IoT devices become more data-intensive and require low-latency connections, the demand for high-performance IoT chips equipped with advanced connectivity features increases.

5G, in particular, is expected to revolutionize the IoT landscape by offering ultra-fast speeds, low latency, and massive device connectivity. IoT chips designed to harness the capabilities of 5G will play a pivotal role in unlocking the full potential of IoT applications, including autonomous vehicles, smart cities, and industrial automation.

The integration of edge computing and artificial intelligence (AI) into IoT devices is another driver of the IoT chip market. Edge computing enables data processing and analytics to occur closer to the data source, reducing latency and enhancing real-time decision-making. IoT chips with AI capabilities, such as machine learning inference, enable intelligent data processing at the edge. Industries like autonomous vehicles, smart manufacturing, and surveillance systems benefit from IoT chips that can process data locally and make instant decisions without relying solely on cloud-based resources. This trend drives the demand for IoT chips with embedded AI processing units, opening up new opportunities for chip manufacturers.

Energy efficiency is a critical driver of the IoT chip market, especially as many IoT devices operate on battery power or have strict power constraints. IoT chips need to be highly energy-efficient to prolong battery life and reduce maintenance requirements. Low-power IoT chips, often based on technologies like ARM Cortex-M and RISC-V, are in high demand for applications like remote sensors, wearables, and IoT-enabled appliances. Energy-efficient chips enable IoT devices to operate for extended periods without frequent battery replacement or recharging, making them more practical and cost-effective for users.

The increasing investment in smart infrastructure projects worldwide is boosting the IoT chip market. Governments and municipalities are embracing IoT technology to create smart cities with connected infrastructure, including intelligent transportation systems, smart grids, and environmental monitoring. These large-scale projects require a significant number of IoT chips to enable seamless connectivity and data exchange between devices. IoT chips facilitate smart city initiatives by powering applications like traffic management, waste management, and public safety, contributing to the market's growth.

As IoT devices become integral parts of critical infrastructure and handle sensitive data, security is a paramount concern. This heightened security requirement is driving the demand for IoT chips with embedded security features. IoT chips are now equipped with hardware-based security modules, encryption engines, and secure boot mechanisms to protect data from cyber threats and unauthorized access. Security-conscious industries like healthcare, finance, and industrial automation are particularly reliant on secure IoT chips to safeguard sensitive information and maintain the integrity of their IoT ecosystems.

In conclusion, the global IoT chip market is being propelled by the proliferation of IoT devices, advancements in wireless connectivity, edge computing, AI integration, energy efficiency, smart infrastructure investments, and enhanced security requirements. These drivers collectively shape the evolving landscape of IoT chip development and adoption across various industries.

Key Attributes:

Report Attribute	Details
No. of Pages	178
Forecast Period	2022 - 2028
Estimated Market Value (USD) in 2022	$0.5 Trillion
Forecasted Market Value (USD) by 2028	$1.35 Trillion
Compound Annual Growth Rate	17.1%
Regions Covered	Global

Regional Insights

North America had the largest market for IoT chips in 2022. The growth of the market in North America is being driven by the following factors:

• The increasing adoption of IoT devices in the automotive, healthcare, and manufacturing industries.
• The presence of a large number of leading IoT chip manufacturers in the region.
• The high level of investment in research and development in the region.

Europe had the second-largest market for IoT chips in 2022. The growth of the market in Europe is being driven by the following factors:

• The increasing adoption of IoT devices in the healthcare and transportation industries.
• The presence of a strong automotive industry in the region.
• The increasing focus on environmental sustainability in the region.

Asia Pacific had the third-largest market for IoT chips in 2022. The growth of the market in Asia Pacific is being driven by the following factors:

• The increasing adoption of IoT devices in the consumer electronics and industrial automation industries.
• The presence of a large number of emerging economies in the region.
• The increasing investment in research and development in the region.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global IoT Chip Market.

• Intel Corporation
• Qualcomm Technologies Inc
• Texas Instruments Incorporated
• NXP Semiconductors NV
• Microchip Technology Inc
• MediaTek Inc.
• STMicroelectronics NV
• Renesas Electronics Corporation
• Huawei Technologies Co. Ltd.
• NVIDIA Corporation
• Cypress Semiconductor Corporation

Report Scope:

IoT Chip Market, By Hardware:

• Processors
• Sensors
• Connectivity ICs
• Memory Devices
• Logic Devices Floor-standing

IoT Chip Market, By Application:

• Healthcare
• Consumer Electronics
• Building Automation
• Industrial
• Automotive and Transportation
• Banking Financial Services & Insurance (BFSI)
• Agriculture
• Retail
• Oil and Gas

IoT Chip Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait
• Turkey
• Egypt

For more information about this report visit https://www.researchandmarkets.com/r/bvxgq5

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