IoT Chip Market by Hardware (Processor, Sensor, Connectivity IC, Memory Device, and Logic Device), End-Use Application (Wearable Devices, Building Automation, Industrial, Automotive & Transportation, and Others), and Geography - Global Forecast to 2022
“IoT chip market expected to grow at a CAGR of 13.2% during the forecast period”
The IoT chip market is expected to be valued at USD 14.81 billion by 2022, growing at a CAGR of 13.2% from 2016 to 2022. The growth of the IoT chip market can be attributed to the growing market of connected devices as well as increasing investments in the IoT industry. However, the lack of common communication protocols and communication standards across platforms and high power consumption by connected devices are hindering the growth of the IoT chip market.
“Connectivity ICs held the largest share of the market in 2015”
Connectivity ICs held the largest share of the IoT chip market in 2015. The demand for connectivity ICs is expected to be majorly driven by the automotive and transportation sector. The increasing usage of IoT in automotive and transportation requires better wireless connectivity technologies to support new segments such as connected cars and intelligent transportation systems (ITS), which will result in increasing demand for connectivity ICs.
“IoT chip market for retail end-use application expected to grow at the highest rate from 2016 to 2022”
The IoT chip market for the retail end-use application is expected to grow at the highest CAGR from 2016 to 2022. The growing penetration of IoT-related products and services such as smart grocery, demand-aware warehouse, and connected consumer would complement the growth of IoT chips in retail applications.
“IoT chip market in APAC expected to grow at the highest rate during the forecast period”
This report covers the IoT chip market segmented on the basis of region into North America, Europe, Asia-Pacific, and Rest of the World. The North American region held the largest share of the IoT chip market in 2015 owing to the strategic initiatives taken by many large American technology firms and increased research and development in the field of IoT. The market in APAC is expected to grow at the highest rate from 2016 to 2022 owing to the huge investments by the companies for the development of IoT.
Breakdown of profiles of primary participants:
By Company Type: Tier 1—55%, Tier 2—20%, and Tier 3—25%
By Designation: C-level executives—75% and Managers—25%
By Region: North America—10%, APAC—40%, Europe—20%, and RoW—30%
The companies that are profiled in this report are Intel Corporation (U.S.), Qualcomm Incorporated (U.S.), NXP Semiconductors N.V (Netherlands), Texas Instruments Incorporated (U.S.), STMicroelectronics N.V. (Switzerland), MediaTek Inc. (Taiwan), Microchip Technology Inc. (U.S.), Renesas Electronics Corporation (Japan), Huawei Technologies Co., Ltd. (China), NVIDIA Corporation (U.S.), Cypress Semiconductor Corporation (U.S.), Advanced Micro Devices, Inc. (U.S.), and Samsung Electronics Co., Ltd. (South Korea).
The report describes the IoT chip market and related developments in terms of hardware and end-use applications across different regions. It aims at estimating the market size and future growth potential of this market across different segments such as hardware, end-use application, and geography. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to Buy the Report:
This report includes the market statistics pertaining to hardware, end-use application, and geography along with their respective revenue.
Porter’s five forces framework has been provided along with the value chain analysis to provide an insight into the IoT chip market.
The major drivers, restraints, opportunities, and challenges for the IoT chip market have been detailed in this report.
Illustrative segmentation, analysis, and forecast based on hardware, end-use application, and geography have been provided to give an overall view of the IoT chip market.
A detailed competitive landscape has been provided including key players, in-depth analysis, and revenue of key players.