IoT Chip Market Overview, Opportunities, Impact of Drivers, Key Vendors Including Intel Corporation, Qualcomm, Texas Instruments, NXP Semiconductors, Microchip Technology Inc., MediaTek, STMicroelectronics, Renesas Electronics Forecast to 2023

Based on the research findings, the global IoT chip market is likely to grow from $4,582.6 million in 2013 to $17,285.3 million by 2023. Concept of IoT is rapidly being adopted by several industries in order to provide ease and efficiency of work.

Accelerating requirement for application-specific microcontroller units (MCUs) and flexible system on chip (SoC)-type architectures are the major factors propelling the growth of IoT chip market.

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As per the findings of research, integration of IoT chips in retail applications is expected to register highest growth, during the forecast period. Integration of IoT in retail benefits retailers with enhanced customer experience and increased revenue. In retail, IoT enabled devices and applications are majorly being used to manage inventory, mobile payments, and to advertise.

Advancement of IoT generates demand for better wireless connectivity technologies to support new segments of automotive and transportation sector such as connected cars and intelligent transportation system (ITS), which is likely to spur the demand for connectivity ICs in the global IoT chip market.

Moreover, combination of IoT chipsets with integrated connectivity ICs, such as Bluetooth, Near-Field Communication (NFC), and Global Navigation Satellite System (GNSS), are expected to be used in smartphones and other consumer electronic devices to reinforce varied communication protocols.

Geographically, North America has been the largest market for IoT chip. It has been observed that companies in the region have made huge investments for research and development in IoT industry. North America has been observed as one of the fastest-growing markets in terms of technological advancements, manufacturing operations, and infrastructure.

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The global IoT chip market had a consolidated structure in 2016. Some of the key players of IoT chip market include Intel Corporation, Qualcomm Incorporated, Texas Instruments Incorporated, NXP Semiconductors N.V., Microchip Technology Inc., MediaTek Inc., STMicroelectronics N.V., Renesas Electronics Corporation, Huawei Technologies Co. Ltd., NVIDIA Corporation, Cypress Semiconductor Corporation, Advanced Micro Devices Inc., and Samsung Electronics Co. Ltd.

GLOBAL IoT CHIP MARKET SEGMENTATION

By Application

• Wearable Devices
• Healthcare
• Consumer Electronics
• Building Automation
• Industrial
• Automotive and Transportation
• Banking, Financial Services, and Insurance
• Agriculture
• Retail
• Oil and Gas
• Others

By Geography

• North America
o U.S.
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of APAC
• Europe
o U.K.
o Germany
o France
o Rest of Europe
• Rest of the World (RoW)
o Mexico
o Brazil
o South Africa
o Rest of RoW

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