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%.The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the IoT Chip market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the IoT Chip market.
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.NFC ring embedded with network connectivity, sensors, and software enables individuals to share and exchange data. Features such as automatic running, program lock, business card share, and intelligent door lock are present in NFC rings. Thus, NFC rings eliminate the need for carrying car keys, credit cards, and door keys.
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Further key findings from the report suggest
- 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.
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The report offers a complete analysis of the global IoT Chip market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations. Samsung, Intel Corporation, Huawei Technologies Co. Ltd., STMicroelectronics, Microchip Technology Inc., Qualcomm Technologies Inc., NXP Semiconductors, Cypress Semiconductor Corporation, NVIDIA Corporation, and MediaTek Inc. and others are some of the top companies profiled in the report.
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
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Emergen Research has segmented the global IoT chip market on the basis of product, end-use, and region:
Product Outlook (Revenue, USD Million; 2019–2030)
Field-Programmable Gate Array
- Memory Device
- Dynamic Random-Access Memory
- Static Random-Access Memory
- Heart Rate Sensor
- Temperature Sensor
- Pressure Sensor
- Blood Glucose Sensor
- Image Sensor
- Flow Sensor
- Blood Oxygen Sensor
- Humidity Sensor
- Ambient Light Sensor
- Gas Sensor
- Motion & Position Sensor
- Electrocardiogram Sensor
- Inertial Measurement Unit
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report addresses the following key points:
- The report provides a forecast of market drivers, restraints, and future opportunities for the IoT Chip market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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