Pune, March 15, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, edge computing is becoming increasingly important in the IoT ecosystem, as it enables data processing to occur closer to the source. IoT chips with built-in edge computing capabilities are therefore in high demand.
As reported by SNS Insider, the IoT Chips Market size was valued at USD 441.37 billion in 2022, and it is projected to grow to USD 708.81 billion by 2030, with a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2023 to 2030.
IoT Chips Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 441.37 Billion |
| Market Size by 2030 | US$ 708.81 Billion |
| CAGR | CAGR of 6.1% From 2023 to 2030 |
| Key Segments | • By Hardware (Processors, Logic Devices, Connectivity Integrated Circuits (ICs), Sensors, Memory Devices, Others) • By End User (Wearable Devices, Consumer Electronics, Retail, Healthcare, Manufacturing, Building Automation, Oil & Gas, Aerospace & Defense, Automotive & Transportation, BFSI, Agriculture) |
| Company Profiles | Intel Corporatio, , Qualcomm Incorporated, Mediatek, Samsung Electronics, Microchip Technology, Silicon Laboratories, Telit Communications, STMicroelectronics, Texas Instruments Incorporated and Nordic Semiconductor, and other players |
| Key Drivers | • Low-cost smart wireless sensor networks are expanding. • An increasing proclivity to use AI and 5G technologies |
Download PDF Brochure: https://www.snsinsider.com/sample-request/2423
IoT chips are a critical component of IoT technology. They are small, low-power computer chips that enable devices to communicate with each other and connect to the internet. These chips are designed to perform a range of functions, such as collecting data from sensors, analyzing data, and transmitting data to other devices or servers.
Market Analysis
One significant contributor to IoT chips market growth is the increasing demand for application-specific microprocessors and system-on-chip designs, which are tailored to meet specific requirements for IoT devices. Furthermore, the demand for consumer electronics and connected devices is also driving the growth of the market. With the proliferation of smart home devices and other connected devices, there is a growing need for high-performance and energy-efficient chips that can handle the massive amounts of data generated by these devices. As a result, the market for IoT chips is expected to experience tremendous growth in the coming years.
Speak To Analyst: https://www.snsinsider.com/enquiry/2423
Impact of Recession
The IoT chips market has experienced significant growth in recent years, with increasing demand for connected devices and smart technologies. However, the market may face some challenges during a recession. Supply chain disruptions and manufacturing issues may arise during a recession, which could impact the availability and cost of IoT chips. However, the impact of a recession on the market may vary depending on the specific industry or application. For example, industries such as healthcare and transportation may continue to invest in IoT technologies despite economic downturns, as they see the long-term benefits of increased efficiency and cost savings.
Key Regional Development
The global IoT chips market has been dominated by North America for several years due to the presence of big multinational corporations. However, with the rapid urbanization and industrialization in the Asia Pacific region, it is expected to take the lead and grow at a rapid pace in the forecast period. This growth is attributed to increased investment towards smart and efficient technology, especially in countries like India, China, Japan, and Taiwan.
Recent Developments Related to IoT Chips Market
- Würth Elektronik, a leading manufacturer of electronic and electromechanical components, has recently partnered with Crypto Quantique, a cutting-edge cybersecurity company specializing in quantum-driven secure IoT solutions. This partnership aims to enhance the security of IoT devices and protect them from potential cyber threats.
- Silicon Labs, a leading provider of semiconductor solutions, has announced the release of new chips and development kits designed specifically for edge IoT applications. The new products are part of the company's growing portfolio of solutions for the rapidly expanding IoT market.
Buy Complete Research Report: https://www.snsinsider.com/checkout/2423
Key Takeaway from IoT Chips Market Study
- The connectivity IC (Integrated Circuit) segment has played a major role in exponential growth of the industry. This segment includes a wide range of chips and modules that enable devices to connect to the internet and communicate with each other.
- The market has been experiencing significant growth in recent years, with the building automation segment leading the charge. The growing demand for building automation is driven by several factors, including the need for greater energy efficiency, improved comfort and convenience, and enhanced security.
About SNS Insider
At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That's why we offer a range of solutions tailored to meet the unique needs of each client, from startups to big corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients achieve their full potential.
