Big players in Global IoT Chip Market include Intel Corporation, MediaTek Inc., Qualcomm Technologies, Inc., Huawei Technologies Co., Ltd., Texas Instruments Incorporated, Samsung Electronics Co., Ltd.
The “Global IoT Chip Market accounted for USD 7.07 billion in 2016 and is projected to grow at a CAGR of 14.75% during the forecast period of 2017 to 2024”, also the Global IoT Chip Market By Hard ware (Sensor, Processor, Memory Device, Connectivity IC, Logic Device), End User (Wearable Devices, Consumer Electronics, Healthcare, Banking, Financial Services and Insurance (BFSI), Building Automation, Industrial, Agriculture, Oil & Gas, Automotive & Transportation, Retail), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
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Definition of IoT Chip Market:
IoT chip includes sensor, different types of processors, interface IP, ASICs in cloud for packaging and many more. These are meant for security and safety concerns which comes in the application of medical devices, consumer electronics, wearable devices, automotive and transportation.
Segmentation of Global IoT Chip Market:
On the basis of hardware, global IoT chip market is segmented into sensor, processor, memory device, connectivity IC and logic device. Sensor is sub segmented into heart rate, blood glucose, blood oxygen, flow, level, temperature, pressure, inertial measurement unit (IMU), humidity, chemical and gas¸ electrocardiogram (ECG), ambient light, motion and position, accelerometer and image sensor.
Memory device is sub segmented into static random access memory (SRAM) and dynamic random access memory (DRAM). Processor is sub segmented into microcontroller (MCU), digital signal processor (DSP) and application processor (AP).
Connectivity IC is sub segmented into bluetooth, zigbee, Wi-Fi, cellular network, ANT+, bluetooth smart/bluetooth low energy (BLE), near-field communication (NFC), ethernet, ISA100, global navigation satellite system (GNSS) module, enocean, thread and wireless highway addressable remote transducer (WHART).
On the basis of end user, global IoT chip market is segmented into wearable devices, consumer electronics, healthcare, banking, financial services, and insurance (BFSI), building automation, industrial, agriculture, oil and gas, automotive and transportation and retail.
On the basis of geography, the global IoT chip market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East and Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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The global IoT chip market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Major Market Competitors:
Some of the major players in global IoT chip market report include Intel Corporation, MediaTek Inc., Qualcomm Technologies, Inc., Huawei Technologies Co., Ltd., Texas Instruments Incorporated, Samsung Electronics Co., Ltd., Renesas Electronics Corporation, Microchip Technology Inc.¸ Advanced Micro Devices, Inc., NXP Semiconductors, NVIDIA Corporation, Cypress Semiconductor Corporation and STMicroelectronics among others.
Summary of Major Market Drivers:
- Expansion in the wearable device market
- Growing demand for flexible Soc type designs and application specific MCUs
- Government funding and increase in the investment of IoT
Major Market Restraints:
- Rising concern in regards of security concern
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