The global IoT chip market size is expected to grow from USD 392.0 billion in 2020 to USD 525.4 billion by 2025, at a CAGR of 6.0%. The key drivers for the growth of the IoT chip market are the development of internet connectivity in technologically advancing countries and the growth of low-cost smart wireless sensor networks. The growth of application-specific MCUs and flexible SoC-type designs, adoption of IPv6, which provides more IP address space, technologies such as AI fueling IoT adoption, development of internet connectivity, and growth of low-cost smart wireless sensor networks are expected to drive the IoT chip market. Concerns regarding the security and privacy of user data act as restraints for the market.
Major IoT Chip Companies Include:
These players have adopted various growth strategies, such as product launches and developments and acquisitions to further expand their presence in the global IoT chip industry. Product launches and developments have been the most commonly adopted strategies by major players from 2017 to 2020 that have helped them innovate on their offerings and broaden their customer base.
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Intel Corporation (Intel) (US) ranked first in the global IoT chip market. Intel is a uniquely positioned company that powers the cloud and numerous smart and connected computing devices. Intel delivers computer, networking, and communication platforms to a broad set of customers, including OEMs, ODMs, cloud and communication service providers, and industrial, communications, and automotive equipment manufacturers.
Qualcomm (US) has been ranked second in the IoT chip market and is one of the key players in the global semiconductor industry involved in designing and marketing wireless telecommunications products and services that are widely adopted in mobile devices and other wireless products, including network equipment and broadband gateway equipment. In addition to cellular devices, the company’s technology and products are suitable for automotive, IoT, data center, networking, and computing and machine learning applications. Qualcomm develops and supplies integrated circuits (ICs)—also known as chips or chipsets—and system software based on CDMA, OFDMA, and other technologies for use in mobile devices, wireless networks, devices used in IoT, broadband gateway equipment, consumer electronic devices, and automotive telematics and infotainment systems.
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IoT Chip Market with COVID-19 Impact Analysis by Hardware (Processor, Connectivity IC, Sensor, Memory Device and Logic Device), Power Consumption, End-use Application (Wearable Devices, Consumer Electronics, Building Automation and Retail) and Region - Global Forecast to 2025
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