Increasing adoption of AI technology is expected over the forecast period to further propel the growth of the global IoT chip market.
The global Internet of Things (IoT) chip market reached a valuation of USD 11.37 Billion in 2020 and is expected to reach a market size of USD 34.74 Billion by 2028, registering a CAGR of 14.9% in terms of revenue growth during the forecast period, according to the current report by Emergen Research. Due to the growing demand for wearable devices, the global IoT chip market revenue is projected to grow significantly during the forecast period. Increasing adoption of Artificial Intelligence technology is expected over the forecast period to further propel the growth of the global IoT chip market. Moreover, the growing adoption of connected devices is expected in the near future to further fuel the growth of the global IoT chip industry. The growth of the global IoT chip market over the forecast period is expected to increase due to the application of IoT technology for process automation.
Asia Pacific market is expected to register rapid growth in terms of revenue share in the global IoT chip market during the forecast period. This can be attributed to the increasing focus of governments to develop smart cities in countries in the region.
Concerns regarding safety of data and connected devices and interoperability issue of IoT chip is expected to restrain the growth of the IoT chip market to a certain extent over the forecast period.
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Further Key Highlights from the Report:
In terms of revenue, the logic device sub-segment is projected to be valued at USD 10.98 Billion by 2028. The large market share is mainly due to the increasing application of field-programmable gate array in wearable devices.
The sensor sub-segment revenue is expected to increase significantly during the forecast period due to the increasing application of temperature and pressure sensors in the manufacturing industry.
By end-use, the consumer electronics segment revenue is projected to increase at a high CAGR of 15.1% during the forecast period. The large market share is mainly due to the increasing demand for IoT enabled wearables.
North America accounted for the largest market share of 34.4% in the global IoT chip market in 2020. The North American market is expected to account for a relatively higher revenue share than other regional markets during the forecast period due to increasing demand for IoT enabled consumer electronics in countries in the region.
Lead ing players in the IoT chip market include NXP Semiconductors N.V., Samsung Electronics Co Ltd., Intel Corporation, Qualcomm Incorporated, Texas Instruments Incorporated, Microchip Technology Inc., STMicroelectronics N.V., Cypress Semiconductor Corporation, NVIDIA Corporation, and Huawei Technologies Co., Ltd.
In July 2020, Riot Micro, which is an IoT tech developer and chip designing company, was acquired by STMicroelectronics N.V. The acquisition will strengthen the wireless connectivity expertise of STMicroelectronics N.V.
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Emergen Research has segmented the global IoT chip market on the basis of product, end-use, and region:
IoT Chip Market Product Outlook (Revenue, USD Billion; 2021–2028)
Digital Signal Processor
Bluetooth Low Energy
Near-Field Communication (NFC)
Wireless Fidelity (Wi-Fi)
Wireless Highway Addressable Remote Transducer
Global Navigation Satellite System Module
Dynamic Random-Access Memory
Static Random-Access Memory
Heart Rate Sensor
Inertial Measurement Unit
Blood Glucose Sensor
Blood Oxygen Sensor
Ambient Light Sensor
Motion & Position Sensor
Field-Programmable Gate Array
IoT Chip Market End-use Outlook (Revenue, USD Billion; 2021–2028)
Aerospace & Defense
Oil & Gas
IoT Chip Market IoT Chip Market Regional Outlook (Revenue, USD Billion; 2020–2027)
Middle East & Africa
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Table of Content
Chapter 1. IoT Chip Market Methodology & Sources
1.1. IoT Chip Market Definition
1.2. IoT Chip Market Research Scope
1.3. IoT Chip Market Methodology
1.4. IoT Chip Market Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. IoT Chip Market Key Insights
Chapter 4. IoT Chip Market Segmentation & Impact Analysis
4.1. IoT Chip Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Growing adoption of the IoT Chip in e-commerce
126.96.36.199. Reduces overall cost
4.2.3. Market restraints analysis
188.8.131.52. Limited support platform for market hardware and software
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. IoT Chip Market By Offering Insights & Trends Revenue (USD Million)
Chapter 6. IoT Chip Market By Application Insights & Trends Revenue (USD Million)
Chapter 7. IoT Chip Market By End-User Insights & Trends Revenue (USD Million)
Chapter 8. IoT Chip Market By Industry Vertical Insights & Trends Revenue (USD Million)
Chapter 9. IoT Chip Market Regional Outlook
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