IoT Chip Market Size to Grow by USD 10.37 billion

Some of the primary growth drivers for the IoT chip market are the increasing number of smart devices and applications, increasing adoption of M2M connections, and governments and financial institutions investing in IoT ecosystem development. However, factors such as privacy and security concerns may hamper market growth.

According to Technavio, the IoT chip market size is expected to grow by USD 10.37 bn from 2020 to 2025. The growth momentum of the market is expected to accelerate at a CAGR of 13.59%. The IoT chip market is expected to post a year-over-year growth rate of 12.77%.

Market Segmentation Highlights

• Based on application, the IoT chip market has been segmented by smart cities, industrial ethernet, smart wearables, connected vehicles, and connected homes.
• Among these segments, the smart cities segment will have significant market share growth during the forecast period.
• The growth of the segment will be driven by factors such as growing investments in smart cities, which will accelerate the adoption of smart meters, smart grids, and smart parking solutions worldwide.

Regional Analysis

• Based on geography, the market has been segmented into five regions, namely APAC, North America, Europe, South America, and MEA.
• APAC is expected to account for 46% of the growth of the market.
• China and Japan are the key countries for the IoT chip market in APAC.
• Market growth in this region will be faster than the growth of the market in North America, Europe, South America, and MEA.

View Our Sample Report for more information about the contribution of each segment of the market

Notes:

• The IoT chip market size is expected to accelerate at a CAGR of 13.59% during the forecast period.
• The IoT chip market is segmented by application (smart cities, industrial ethernet, smart wearables, connected vehicles, and connected homes) and geography (APAC, North America, Europe, South America, and MEA).
• The market is fragmented due to the presence of many vendors holding significant market share.
• The research report offers information on several market vendors, including Cypress Semiconductor Corp., Huawei Investment and Holding Co. Ltd., Intel Corp., Marvell Technology Group Ltd., MediaTek Inc., Microchip Technology Inc., NXP Semiconductors NV, Qualcomm Inc., Renesas Electronics Corp., and Texas Instruments Inc.

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