At A CAGR Of 17.10 %, IoT Chips Market Is Dominated By Industrial Sector Globally

"Rising concerns related to terrorism, drug trafficking, smuggling, and other security threats have driven the demand for advanced contraband detection technologies. Governments and organizations are investing in these solutions to enhance security."

According to TechSci Research report, "Global IoT Chips Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028". The Global IoT Chips is anticipated to project robust growth in the forecast period with a CAGR of 17.10% through 2028. Adoption of cloud computing: The growing adoption of cloud computing for storing and processing IoT data is driving demand for IoT chips that can support cloud-based applications.

Security: IoT devices are vulnerable to cyber-attacks due to the large number of devices, protocols, and technologies used. This poses a significant challenge for IoT chip manufacturers. IoT systems are complex, needing a variety of hardware and software components to function properly. This poses a challenge for IoT chip manufacturers to develop chips that can work seamlessly across components and technologies. The IoT ecosystem is fragmented, with devices and protocols that are often incompatible with each other. Developing chips that can support multiple standards and protocols is a challenge.

Cost: IoT devices are often priced low, which pressurises IoT chip manufacturers to produce high quality but low-cost chips. Many IoT devices are powered by batteries, limiting their lifespan and usage. Developing low power consumption chips is a challenge. The development and maintenance of IoT systems require expertise in hardware, software, and networking. This poses a challenge for IoT chip manufacturers to find and retain skilled employees.

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Recent Developments:
In July 2022, according to an Economic Times' survey, cellular IoT module chipset shipments grew in India. Qualcomm led the market with a 42% share broadening its IoT chipset portfolio, targeting premium 4G and 5G solutions for verticals such as retail, industrial, smart cities, and more
GE is looking for opportunities in the IoT with industrial analytics, while Apotex upgraded its manufacturing processes to automate manual processes. This includes ensuring consistent batch production by introducing RFID, sorting, and process flow tracking.

The industrial IoT trend is now being aided by smart factory initiatives, such as the Smart Manufacturing Leadership Coalition (SMLC) in the United States.

In June 2022, the Ministry of Foreign Affairs stated that the European market for Internet of Things (IoT) solutions is accelerating. Germany, the UK, and the Netherlands lead Europe in IoT adoption, while Eastern European and Nordic countries follow closely. The manufacturing, home, healthcare, and financial sectors are at the forefront of his IoT adoption, but retail and agriculture are also seeing impressive growth.

The deployment of the wireless chip, including eLTE or NB-IoT chip for their manufacturing terminal, has been gaining traction. Huawei collaborated with industrial partners to make smart terminals used in traditional manufacturing for uploading equipment data and receiving commands. eLTE or NB-IoT chip is added to the manufacturing terminal for transmitting data generated by the terminal via the eLTE or NB-IoT network, enabling manufacturing data to be collected and commands issued.

Partnerships & Collaborations

Nokia has announced the extension of its partnership with the State Grid Corporation of China (SGCC), upgrading the SGCC's existing power grid across three new provinces - Hubei, Hunan, and Jiangxi.

Yahsat, a UAE's satellite solutions provider, announced a minority investment in eSAT Global, an IoT connectivity solutions provider. Yahsat's mobility branch Thuraya has also signed a commercial agreement with eSAT to provide long-term access to an end-to-end Low Power Wide Area Network (LPWAN) IoT system and portfolio.

IoT solutions provider Aeris announced that M Auto, the leading provider of electric mobility solutions in Africa, has chosen Aeris' IoT connectivity solution for its network of electric transportation solutions

AI processor developer Kinara has announced its collaboration with NXP Semiconductors, combining the pair's AI-enabled products and edge processing capabilities
Energous, a developer of RF-based charging for wireless power networks, has partnered with battery manufacturer NGK to develop wirelessly-powered sensors and tracking devices

Pharrowtech, mmWave hardware and software developer for next-generation wireless applications, has unveiled that its 60 gigahertz high- speed wireless evaluation board, PTB-1060, has been integrated into Renesas' wireless modem platform RWM6050.

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Key market players in the Global IoT Chips Market are following:

• Intel Corporation
• Qualcomm Technologies
• Texas Instruments
• NXP Semiconductors
• STMicroelectronics
• MediaTek
• Renesas Electronics
• Huawei Technologies
• NVIDIA
• Cypress Semiconductor

"Focus on Energy Efficiency: Most IoT devices are battery-powered and need to operate for long periods without recharging. IoT chips that can operate with low power consumption and are therefore in high demand.
Demand for edge computing: Edge computing is becoming essential for IoT applications that require real-time processing of data. IoT chips that support edge computing are therefore in high demand. Demand for smart healthcare solutions: The healthcare industry is increasingly using IoT devices for remote patient monitoring etc. Demand for IoT chips that can support these applications is growing. IoT devices are being used to improve the efficiency and safety of transportation. IoT chips that can support these applications are therefore in high demand." said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

IoT Chips Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Product (Processor, Sensor, Connectivity IC, Memory Device, and logic Device), By End-user (Healthcare, Consumer Electronics, Industrial, Automotive, BFSI, Retail, and Building Automation), By Region, Competition 2018-2028. has evaluated the future growth potential of Global Iot Chips Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Iot Chips Market.

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.3. Markets Covered
1.4. Years Considered for Study
1.5. Key Market Segmentations

2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global IoT Chips Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Product (Processor, Sensor, Connectivity IC, Memory Device, and logic Device),
5.2.2. By End-user (Healthcare, Consumer Electronics, Industrial, Automotive, BFSI, Retail, and Building Automation)
5.2.3. By Region
5.3. By Company (2022)
5.4. Market Map ….Conti…

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