Global IoT Chip Market: Focus on Type, End-use Industry and Region - Analysis and Forecast, 2019-2029

Expert Quote

Worldwide, increasing accounts of connected devices such as smartphones, tablets, and other wearable devices is a crucial factor driving the adoption of IoT chips. Furthermore, the emergence of the digital revolution in various end-use industry verticals such as automotive, manufacturing, and healthcare has subsequently accelerated the adoption rate of advanced digital technologies. The integration of digital technologies such as Artificial Intelligence (AI) and blockchain that rely on a massive amount of digital data is expected to further drive the market demand. The penetration rate of IoT chips is anticipated to simultaneously increase with increasing demand for digital data, as they are deployed for converting and processing physical parameters into digital signals. As per the geographic analysis, Asia-Pacific contributed majorly in the market’s revenue and is expected to continue its dominance in upcoming years. Rising internet penetration rate, high consumer base, and the strong presence of the semiconductor industry is further anticipated to fuel the IoT chip market growth in the region.

Scope of the Global IoT chip Market

The report includes a detailed study of the global IoT chip market, including a thorough analysis of the type and end-use industry sub-segments. Additionally, the study presents an in-depth analysis of the market dynamics and the estimation of the market size over the forecast period 2019-2029. The report scope is mainly focused on the end-use industries catering to IoT chip market for different regions. The industry analysis presents a detailed insight into the significant market players in the global IoT chip market using the supply chain analysis and SWOT analysis.

The market analysis of IoT chips includes a detailed examination of the major market players and business strategies and developments taking place in this market. It further consists of the market dynamics (driving factors, challenges, and upcoming opportunities) and industry analysis. The main purpose is to attain a holistic overview of the global IoT chip market in terms of various factors influencing it. The market has been segmented in terms of ‘type,’ ‘end-use industry,’ and ‘region.’

Market Segmentation

The IoT chip market has been tracked along the lines of type, industry, and region. Revenue generated from the ecosystem (hardware and software) and industry (consumer electronics, healthcare, automotive, manufacturing, retail, and others) has been analyzed. The report also covers the IoT chip market on a global scale and consequently provides revenue data of the key regions. A separate segment has explicitly been dedicated to the key global regions: North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World.

Based on type, the global IoT chip market is segmented into hardware and software. The software segment is currently the highest revenue generating segment among all the sub-segments of IoT chip market and is expected to grow at a significant rate during the forecast period. The high growth rate of the software segment is attributed to the rising need to connect IoT chips wirelessly with other connected devices. Apart from type, the report also provides the overall revenue generated from various end-use industries such as healthcare, automotive, consumer electronics, and manufacturing, among others. The overall IoT chip market revenue is expected to increase at a significant rate in the forecast period, owing to the high adoption rate of IoT chip in applications such as, a smart thermostat, smart ventilation, connected washing machines, and other wearable devices.

Key Companies in the Global IoT Chip Market

A list of 20 IoT chip companies has been analyzed in the report, including chip manufacturers, architecture providers, system integrators, and software providers. Some of the key players operating in these segments include QUALCOMM Incorporated, Intel Corporation, Microchip Technology Inc., and Renesas Electronics Corporation.

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