IoT Chip Market

IoT Chip Market Size, Share, Growth (2023-2028)

IoT Chip Market to grow and get valued at USD 26.21 billion by 2028 from USD 11.48 billion in 2023, registering a CAGR of about 14.00% over the time frame of 2023-2028.

IoT Chip Market overview

IoT chips are small electronic devices that are embedded in machines, objects, and electronic devices. These IoT chips are connected to wireless networks and send & receive the data. Also, these chips are considered as radio chip, but it contains similar technology & data circuits that are found in mobile phones. Globally, the demands for IoT technology in various areas such as electronics, vending machines, automotive, speakers systems, thermostats, and security systems are in growing state owing to the ability of these IoT chips to follow real-time monitoring processes and made it easy to access information & communication.

Recent Developments

• Qualcomm Inc. has announced that it is going to ship its new modem chip for the internet of things (IoT) devices this year, which can measure the smaller than a dime and it can be determined as the most significant power-efficient variant in its category.

• Kalray, a fabless semiconductor company specialized in the application of MPPA manycore technology, has announced a strategic investment from an American-Dutch semiconductor manufacturer, NXP Semiconductors N.V., of about €8 million, for enabling the companies to develop together reliable, safe, and scalable solutions for autonomous driving.

IoT Chip Market Drivers and Restraints

• The growing demand for the application-specific MCUs and the rising investments in the developments of IoT is the major driver for the development of the Global IoT Chip Market. Further, the growth in the adoption of wearable and connected devices among the consumers is further fuelling the growth of the target market.

• However, concerns regarding the privacy of data and security may be the major restraints that are hampering the growth of the Global IoT Chip Market over the forecast period.

• Nonetheless, growing funding by the government of various economies and the collaborations of cross-sectors would create growth opportunities for the expansion of the global IoT chip market in the future.

IoT Chip Market Segmentation

Based on the hardware outlook, the global IoT Chip market is segmented into

• Processor

• Sensor

• Connectivity IC

• Memory Device

• Logic Device

processor segment is sub-segmented into

• Microcontroller (MCU)

• Application Processor (AP)

• Digital Signal Processor (DSP)

The Sensor segment is sub-segmented into

• Accelerometer

• Inertial Measurement Unit (IMU)

• Heart Rate Sensor

• Pressure Sensor

• Temperature Sensor

• Blood Glucose Sensor

• Blood Oxygen Sensor

• Electrocardiogram (ECG) Sensor

• Humidity Sensor

• Image Sensor

• Ambient Light Sensor

• Flow Sensor

• Level Sensor,

• Chemical & Gas Sensor

• Motion and Position Sensor

And the Connectivity IC is sub-divided into Ant+, Bluetooth, Bluetooth Smart/Bluetooth Low Energy (BLE), ZigBee, Wireless Fidelity (Wi-Fi), Ethernet, Near-Field Communication (NFC), EnOcean, Cellular Network, Wireless Highway Addressable Remote Transducer Protocol (WHART), Global Navigation Satellite System (GNSS) Module, Thread, Z-Wave, and ISA100.

Based on the end-user 

• Wearable Devices

• Healthcare

• Consumer Electronics,

• Building Automation,

• Industrial,

• Automotive & Transportation,

• BFSI,

• Agriculture,

• Retail,

• Oil & Gas,

Among these, the Wearable devices segment is sub-segmented as Activity Monitors, Smart watches, Smart Glasses, and Wearable Cameras. The Healthcare segment is sub-divided as Fitness & Heart Rate Monitor, Blood Pressure Monitor, Blood Glucose Meter, Continuous Glucose Monitor, Pulse Oximeter, Automated External Defibrillator, Programmable Syringe Pump, Wearable Injector, and Multi-Parameter Monitor. And the Consumer electronics segment is sub-divided as Refrigerator, Hi-Res Television, Washing Machine, and Other Products. Further, the Building Automation segment is sub-divided as Occupancy Sensor, Daylight Sensor, Smart Thermostats, IP Cameras, Smart Meters, Smart Locks, Smart Grid, Smoke Detectors, Lighting Control Actuators, and Gateways.

IoT Chip Market Regional Analysis

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

In the regional analysis of the Global IoT Chip Market, North America's business held for the major share of the overall market in the revenue aspect. The major factor that was driving the growth of the target market in this region is attributed to the growing investments of IoT developers and equipment manufacturers in the region in R&D for enhancing the application area of these technologies. Moreover, the high rate of technological developments, manufacturing operations, and infrastructural advancements are other factors that are fuelling the growth of the IoT Chip business in this area.

IoT Chip Market Key Players:

1. Intel Corporation (U.S.)

2. Qualcomm Incorporated (U.S.)

3. Texas Instruments Incorporated (U.S.)

4. NXP Semiconductors N.V. (Netherlands),

5. Microchip Technology Inc. (U.S.),

6. MediaTek Inc. (Taiwan),

7. STMicroelectronics N.V. (Switzerland),

8. Renesas Electronics Corporation (Japan),

9. Huawei Technologies Co., Ltd. (China),

10. NVIDIA Corporation (U.S.),

11. Cypress Semiconductor Corporation (U.S.),

12. Advanced Micro Devices, Inc. (U.S.),

13. Samsung Electronics Co., Ltd. (South Korea).