Market Size – USD 13.05 Billion in 2021, Market Growth – at a CAGR of 14.9%, Market Trends – – Increasing R&D activities for the development
VANCOUVER, BRITISH COLUMBIA, CANADA, May 16, 2023 /EINPresswire.com/ — Global IoT Chip Market Forecast to 2030
The Internet of Things (IoT) has emerged as a transformative force, connecting billions of devices worldwide and revolutionizing industries across various sectors. At the heart of this technological revolution lies IoT chips, which serve as the key enablers for seamless communication and data processing in IoT devices. The IoT chip market has witnessed tremendous growth in recent years, driven by the increasing adoption of IoT devices in numerous applications. This article explores the current landscape of the IoT chip market, its major players, and the factors driving its growth.
The global Internet of Things (IoT) chip market size reached USD 13.05 billion in 2021 and is expected to register a revenue CAGR of 14.9% during the forecast period, according to the latest analysis by Emergen Research. Growing demand for wearables such as fitness trackers, gaming simulators, smart posture trainers, smart shoes, and Near-Field Communication (NFC) smart rings is driving global IoT chip market revenue growth.
An NFC ring embedded with network connectivity, sensors, and software enables individuals to share and exchange data. Features such as automatic running, a program lock, business card sharing, and an intelligent door lock are present in NFC rings. Thus, NFC rings eliminate the need for carrying car keys, credit cards, and door keys. One can easily unlock their home’s door with the help of an NFC ring if the door has an NFC-enabled lock. In addition, NFC rings support metro ticketing, which is the next generation of metro fare collection systems, and ticketing is more user-friendly and hassle-free. It saves time for passengers when compared to traditional ticketing systems as it enables passengers to use mobile phones, bank cards, or NFC rings for contactless and cashless payments while traveling.
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The global IoT Chip industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Samsung, Intel Corporation, Huawei Technologies Co. Ltd., STMicroelectronics, Microchip Technology Inc., Qualcomm Technologies Inc., NXP Semiconductors, Cypress Semiconductor Corporation, NVIDIA Corporation, and MediaTek Inc
Research Report on the IoT Chip Market Addresses the Following Key Questions:
Who are the dominant players of the IoT Chip market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the IoT Chip market?
What are the key growth drivers and restraining factors of the IoT Chip market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the IoT Chip market and its key segments?
The report bifurcates the IoT Chip market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Product Outlook (Revenue, USD Million; 2019–2030)
Field-Programmable Gate Array
Dynamic Random-Access Memory
Static Random-Access Memory
Heart Rate Sensor
Blood Glucose Sensor
Blood Oxygen Sensor
Ambient Light Sensor
Motion & Position Sensor
Inertial Measurement Unit
Digital Signal Processor
Wireless Fidelity (Wi-Fi)
Bluetooth Low Energy
Wireless Highway Addressable Remote Transducer
Near-Field Communication (NFC)
Global Navigation Satellite System Module
End-use Outlook (Revenue, USD Million; 2019–2030)
Aerospace & Defense
Banking, Financial Services and Insurance (BFSI)
Oil & Gas
Regional Outlook (Revenue, USD Million; 2019–2030)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
Regional Landscape section of the IoT Chip report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
Logic device segment accounted for largest revenue share in 2021. Revenue growth of this segment is attributed to increasing use of field-programmable gate arrays in wearable devices as it allows improved prototyping and reprogramming ability for debugging.
Consumer electronics segment revenue is expected to grow at a rapid rate over the forecast period due to rising demand for IoT-enabled wearables, including smartwatches. In addition, increasing adoption of smart appliances for home automation such as voice assistance, safety & security, air & water quality monitoring, lighting control, and locks is expected to drive revenue growth of this segment during the forecast period. In addition, IoT chips significantly improve security of smartphones.
Asia Pacific market accounted for largest revenue share in 2021. This can be attributed to rising adoption of IoT chips in smart city development and deployment in countries including China, Japan, Taiwan, and India. Besides, increasing application of IoT chip in process automation and manufacturing industry is expected to drive revenue growth during the forecast period.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the IoT Chip market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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