Vancouver, British Columbia, Jan. 28, 2021 (GLOBE NEWSWIRE) -- The Internet of Things (IoT) chip market is forecast to reach a market size of USD 34.74 Billion by 2028, and register a steady CAGR of 14.9%, over the forecast period, according to latest analysis by Emergen Research. Increasing adoption of connected devices is a major factor driving growth of the global IoT chip market. In addition, rising adoption of IoT technology for process automation is expected to further fuel growth of the IoT chip market during the forecast period. Increasing implementation of wireless networking technologies is expected to fuel IoT chip market revenue growth during the forecast period.
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IoT chip's interoperability issue is a primary factor expected to hamper preference and deployment, and in turn, impact growth of the IoT chip market to a certain extent over the forecast period.
Key Highlights in the Report
- Growing utilization of temperature and pressure sensors in the manufacturing industry is expected to result in significantly high revenue growth for the sensor segment over the forecast period.
- Increasing application of IoT enabled devices such as smart baggage tracking and smart baggage tags to enhance customer experience is driving revenue growth of the aerospace & defense segment, which is expected to expand at a steady CAGR of 15.2% over the forecast period.
- Rising government focus on developing smart cities in countries in Asia Pacific is a key factor expected to support revenue growth of the market in the region to a significant extent during the forecast period.
- Key market participants include NXP Semiconductors N.V., Samsung Electronics Co., Ltd., Intel Corporation, Qualcomm Incorporated, Texas Instruments Incorporated, Microchip Technology Inc., STMicroelectronics N.V., Cypress Semiconductor Corporation, NVIDIA Corporation, and Huawei Technologies Co., Ltd.
- In May 2020, Rivet Networks LLC acquired Intel Corporation. Through this acquisition, Intel will strengthen its Wi-Fi offerings.
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Emergen Research has segmented the IoT chip market on the basis of product, end-use, and region.
- Product Outlook (Revenue, USD Billion; 2021–2028)
- Processor
- Digital Signal Processor
- Application Processor
- Microcontroller
- Connectivity IC
- Bluetooth
- Bluetooth Low Energy
- Zigbee
- Ant+
- Ethernet
- Near-Field Communication (NFC)
- Wireless Fidelity (Wi-Fi)
- Wireless Highway Addressable Remote Transducer
- Thread
- Global Navigation Satellite System Module
- Memory Device
- Dynamic Random-Access Memory
- Static Random-Access Memory
- Sensor
- Heart Rate Sensor
- Temperature Sensor
- Accelerometer
- Pressure Sensor
- Inertial Measurement Unit
- Blood Glucose Sensor
- Image Sensor
- Blood Oxygen Sensor
- Electrocardiogram Sensor
- Flow Sensor
- Ambient Light Sensor
- Image Sensor
- Humidity Sensor
- Motion & Position Sensor
- Gas Sensor
- Logic Device
- Field-Programmable Gate Array
- Processor
- End-use Outlook (Revenue, USD Billion; 2021–2028)
- Healthcare
- Retail
- Building Automation
- Consumer Electronics
- BFSI
- Agriculture
- Automotive
- Aerospace & Defense
- Oil & Gas
- Others
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- Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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