NEW YORK, Dec. 3, 2021 /PRNewswire/ -- Some of the primary growth drivers for the IoT chip market are the increasing number of smart devices and applications, increasing adoption of M2M connections, and governments and financial institutions investing in IoT ecosystem development. However, factors such as privacy and security concerns may hamper market growth.
Are you looking for more information regarding the trends, drivers, and challenges impacting the IoT chip market? Read Our Sample Now!
According to Technavio, the IoT chip market size is expected to grow by USD 10.37 bn from 2020 to 2025. The growth momentum of the market is expected to accelerate at a CAGR of 13.59%. The IoT chip market is expected to post a year-over-year growth rate of 12.77%.
Market Segmentation Highlights
Based on application, the IoT chip market has been segmented by smart cities, industrial ethernet, smart wearables, connected vehicles, and connected homes.
Among these segments, the smart cities segment will have significant market share growth during the forecast period.
The growth of the segment will be driven by factors such as growing investments in smart cities, which will accelerate the adoption of smart meters, smart grids, and smart parking solutions worldwide.
Based on geography, the market has been segmented into five regions, namely APAC, North America, Europe, South America, and MEA.
APAC is expected to account for 46% of the growth of the market.
China and Japan are the key countries for the IoT chip market in APAC.
Market growth in this region will be faster than the growth of the market in North America, Europe, South America, and MEA.
View Our Sample Report for more information about the contribution of each segment of the market
The IoT chip market size is expected to accelerate at a CAGR of 13.59% during the forecast period.
The IoT chip market is segmented by application (smart cities, industrial ethernet, smart wearables, connected vehicles, and connected homes) and geography (APAC, North America, Europe, South America, and MEA).
The market is fragmented due to the presence of many vendors holding significant market share.
The research report offers information on several market vendors, including Cypress Semiconductor Corp., Huawei Investment and Holding Co. Ltd., Intel Corp., Marvell Technology Group Ltd., MediaTek Inc., Microchip Technology Inc., NXP Semiconductors NV, Qualcomm Inc., Renesas Electronics Corp., and Texas Instruments Inc.
Subscribe to Technavio's "Lite Plan" billed annually at USD 3000. View 3 reports monthly and Download 3 Reports Annually!
Radio Frequency Identification Market: The radio frequency identification market has been segmented by product (RFID tags, middleware, passive RFID systems, and active RFID systems), end-user (industrial, BFSI, retail, logistics, and others), and geography (North America, APAC, Europe, South America, and MEA). Download Sample Report
VPN Market: The VPN market has been segmented by type (MPLS, IP, and others) and geography (North America, Europe, APAC, South America, and MEA). Download Sample Report
IoT Chip Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 13.59%
Market growth 2021-2025
USD 10.37 billion
YoY growth (%)
APAC, North America, Europe, South America, and MEA
Performing market contribution
APAC at 46%
Key consumer countries
US, China, UK, Japan, and Germany
Leading companies, competitive strategies, consumer engagement scope
Cypress Semiconductor Corp., Huawei Investment and Holding Co. Ltd., Intel Corp., Marvell Technology Group Ltd., MediaTek Inc., Microchip Technology Inc., NXP Semiconductors NV, Qualcomm Inc., Renesas Electronics Corp., and Texas Instruments Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
View original content to download multimedia:https://www.prnewswire.com/news-releases/iot-chip-market-size-to-grow-by-usd-10-37-billion--cypress-semiconductor-corp-and-huawei-investment-and-holding-co-ltd-among-key-vendors--technavio-301436398.html