The report of global IoT Chip market by Hardware (Memory Device, Processor, Sensor, Connectivity IC, Logic Device), Application (Healthcare, Consumer Electronics, Industrial, Wearable Devices, Building Automation, BFSI, Automotive & Transportation, Agriculture, Oil & Gas), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during a forecast period.
Internet of Things (IoT) is an internetworking of physical and virtual objects that enables physical and virtual devices to relate to each other through cloud technology for exchange data and information. The global IoT Chip market is driven by the growing demand for IPV6 internet protocol, increasing inclination toward utilization of AI and 5G technologies due to the rising trend of Industry 4.0. However, the absence of standardization of communication protocol around various platforms and issues about privacy and security of user data may restrain the market growth at the global level. High power consumption of connected devices is the major challenge for the IoT chip market in the near future.
Consumer Electronics segment is expected to grow at the highest XX% CAGR during the forecast period.
In 2019, the consumer electronics segment has dominated the IoT chip market and is estimated to grow at a CAGR of XX% during the forecast period. Nowadays, IoT chips are majorly implemented in home electronics devices such as smart TV sets, smart home control, washing machines, and home appliances. Rising adoption of application based flexible SoC type architecture and microcontroller units are propelling the IoT chips market growth in the consumer electronics segment.
North America dominated the IoT Chip market in 2019
In 2019, North America held the XX% share of the IoT Chip market and is expected to maintain its dominance during the forecast period. The presence of a large number of IoT Chips manufacturers and the growing adoption of IoT in the telecommunication industry are propelling the regional market growth in the upcoming period. In terms of value and volume, Asia Pacific is expected to grow at a CAGR of XX% during the forecast period thanks to the advancements in cellular technologies, government initiatives, and the growing adoption of IoT technology.
Key players operating the global IoT Chip market are Intel Corporation, Qualcomm Incorporated, Texas Instruments Incorporated, Mediatek Inc., Microchip Technology Inc., Samsung Electronics Co. Ltd, STMicroelectronics NV,Cypress Semiconductor Corporation, Silicon Laboratories Inc., Telit Communications PLC, Nordic Semiconductor ASA, Semtech Corporation, Marvell Technology Group Ltd, AMD, Whiznets, Arduino, ARM Holdings PLC., Atmel Corporation, Electric Imp, Freescale Semiconductor, Nvidia, Renesas Electronics, NXP Semiconductors N.V., Huawei Technologies Co., Ltd., and Advanced Micro Devices, Inc.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global IoT Chip Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global IoT Chip Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global IoT Chip Market positioning of competitors.
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