Key Questions Answered in the Report:
- What was the total market size of IoT chip in 2018, and how is it expected to grow during 2019-2029?
- What are the impactful driving factors, upcoming trends, and key challenges projected to influence the global IoT chip market during the forecast period 2019-2029?
- Who are the key market participants in the IoT chip space among chip manufacturers, architecture providers, system integrators, and software providers, and what was their respective market share in 2018?
- Which sub-segment (hardware and software) of the type segment of the global IoT chip market is expected to dominate during the forecast period?
- Which industry (consumer electronics, healthcare, automotive, manufacturing, retail, or others) of the global IoT chip market is anticipated to dominate in upcoming years?
- Which regions from North America, Europe, Asia-Pacific, and the Rest of the World are expected to lead the global IoT chip market in the forecast period, 2019-2029?
- Which are the key players active in the global IoT chip ecosystem?
- What is the holistic point of view of the industry’s key opinion leaders in terms of the latest trends, upcoming technologies in the space of IoT chip, and the scope of its adoption in the future?
Global IoT Chip Market, 2019 - 2029
As per BIS Research, the global IoT chip market generated $8.33 billion in 2018 and is expected to witness a CAGR of 15.18% during the forecast period from 2019 to 2029.
The growth in the IoT chip market is attributed to the constantly emerging demand in consumer electronics application. Additionally, declining sensor cost and innovative silicon chip technology are further expected to drive the market growth in the coming future.
“Worldwide, increasing accounts of connected devices such as smartphones, tablets, and other wearable devices is a crucial factor driving the adoption of IoT chips. Furthermore, the emergence of the digital revolution in various end-use industry verticals such as automotive, manufacturing, and healthcare has subsequently accelerated the adoption rate of advanced digital technologies. The integration of digital technologies such as Artificial Intelligence (AI) and blockchain that rely on a massive amount of digital data is expected to further drive the market demand. The penetration rate of IoT chips is anticipated to simultaneously increase with increasing demand for digital data, as they are deployed for converting and processing physical parameters into digital signals. As per the geographic analysis, Asia-Pacific contributed majorly in the market’s revenue and is expected to continue its dominance in upcoming years. Rising internet penetration rate, high consumer base, and the strong presence of the semiconductor industry is further anticipated to fuel the IoT chip market growth in the region.”
Scope of the Global IoT chip Market
The report includes a detailed study of the global IoT chip market, including a thorough analysis of the type and end-use industry sub-segments. Additionally, the study presents an in-depth analysis of the market dynamics and the estimation of the market size over the forecast period 2019-2029. The report scope is mainly focused on the end-use industries catering to IoT chip market for different regions. The industry analysis presents a detailed insight into the significant market players in the global IoT chip market using the supply chain analysis and SWOT analysis.
The market analysis of IoT chips includes a detailed examination of the major market players and business strategies and developments taking place in this market. It further consists of the market dynamics (driving factors, challenges, and upcoming opportunities) and industry analysis. The main purpose is to attain a holistic overview of the global IoT chip market in terms of various factors influencing it. The market has been segmented in terms of ’type,’ ’end-use industry,’ and ’region.’
The IoT chip market has been tracked along the lines of type, industry, and region. Revenue generated from the ecosystem (hardware and software) and industry (consumer electronics, healthcare, automotive, manufacturing, retail, and others) has been analyzed. The report also covers the IoT chip market on a global scale and consequently provides revenue data of the key regions. A separate segment has explicitly been dedicated to the key global regions: North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World.
Based on type, the global IoT chip market is segmented into hardware and software. The software segment is currently the highest revenue generating segment among all the sub-segments of IoT chip market and is expected to grow at a significant rate during the forecast period. The high growth rate of the software segment is attributed to the rising need to connect IoT chips wirelessly with other connected devices. Apart from type, the report also provides the overall revenue generated from various end-use industries such as healthcare, automotive, consumer electronics, and manufacturing, among others. The overall IoT chip market revenue is expected to increase at a significant rate in the forecast period, owing to the high adoption rate of IoT chip in applications such as, a smart thermostat, smart ventilation, connected washing machines, and other wearable devices.
Key Companies in the Global IoT Chip Market
A list of 20 IoT chip companies has been analyzed in the report, including chip manufacturers, architecture providers, system integrators, and software providers. Some of the key players operating in these segments include QUALCOMM Incorporated, Intel Corporation, Microchip Technology Inc., and Renesas Electronics Corporation.