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
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The major drivers for the growth of the IoT chip market are the increasing demand for application-specific MCUs and flexible SoC-type designs and increasing investments by major giants of this industry in the IoT market.
Of all the major end-use applications, automotive and transportation held the largest share of the IoT chip market in 2015. The growth of the automotive and transportation application was primarily driven by the development of intelligent transportation systems (ITS) and high potential for the growth of connected cars.
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The IoT chip market for the retail end-use application is expected to grow at the highest CAGR from 2016 to 2022, followed by wearable devices.
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The rising demand from customers for easier and better shopping experience would drive the use of IoT in the retail application as it would help customers to reduce checkout times, facilitate easier payment procedures, and enable a comparative cost analysis.
On the basis of hardware, the IoT chip market has been segmented into processor, sensor, connectivity IC, memory device, and logic device. Connectivity ICs held a major share of the market in 2015.
The automotive and transportation end-use application held the largest share of the IoT chip market in 2015. The major factor driving the growth of this market is the rise of new segments in the automotive and transportation sector such as connected cars and intelligent transportation systems (ITS) with the advancement of IoT.
The companies that are profiled in the IoT Chip reportare Intel Corporation (U.S.), Qualcomm Incorporated (U.S.), Texas Instruments Incorporated (U.S.), NXP Semiconductors N.V. (Netherlands), Microchip Technology Inc. (U.S.), MediaTek Inc. (Taiwan), STMicroelectronics N.V. (Switzerland), Renesas Electronics Corporation (Japan), Huawei Technologies Co., Ltd. (China), NVIDIA Corporation (U.S.),.
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