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Pune, June 8, 2021 (Global News Agency) – Market analysis
The investment of major IoT chip manufacturers in the development of SoCs and equipment that can transmit data in real time has affected market growth. Market Research Future (MRFR) asserted in its recent global IoT chip market analysis that by 2026, the market size is expected to reach US$531.8 billion, growing at a compound annual growth rate of 5.9% during the review period (2020-2026) .
The COVID-19 outbreak seems right IoT chip market share. With the continuous increase of IT and telecommunications transformation and the digital transformation of the economy, the already competitive telecommunications and manufacturing sectors have accelerated their pace significantly.
The coronavirus pandemic has also promoted the digitization and automation of global manufacturing, disrupting supply chains and labor management. Many organizations have digitized their business processes, including supply chain and product management, sales and marketing, etc.
Automation has further increased the demand for improved Internet connectivity with highly reliable, cloud-based applications and connected devices and Internet of Things services. The IoT chip market has continued to grow in the past few months, and solution providers are investing heavily to promote R&D activities to develop and improve IoT chips.
Overview
Internet of Things chips, also called Internet of Things modules or radio chips, are small electronic devices integrated into machines that can connect to wireless networks and transmit data. These chips connected to the Internet allow users to send and receive real-time data. IoT modules include sensors, processors, on-chip and off-chip memory types, I/O and interface IP and chipsets, used as SoCs, custom ASICs in the cloud, 2.5D chips for networks and servers, and fans-for MEMS and The sensor cluster provides wafer-level packaging.
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Due to digital transformation, automation, Industry 4.0 and other megatrends, the use of smart connected devices in the manufacturing industry is growing. In addition, the emergence of 5G and IoT devices is expected to provide more revenue opportunities. Therefore, the global IoT chip market is estimated to gain huge appeal. With the advancement of technology and the continuous development of digitization, it is necessary to integrate IoT systems into every industrial setting.
Many industries are currently adopting highly reliable low-latency wireless links that can power new and existing IoT applications. As most manufacturing companies accept Industry 4.0 regulations and the advent of Industry 5.0, IoT chip technology is expected to become the key to global manufacturing.
Market segmentation
The IoT chip market forecast is divided into products, end users and regions. The product market segment is subdivided into processors, sensors, connection ICs, storage devices, logic devices, etc. End users are subdivided into consumer electronics, automotive and transportation, healthcare, retail, BFSI, agriculture, entertainment, and media.
Browse the in-depth market research report (100 pages) of the IoT chip industry:
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Regional Analysis
The regional part is divided into the Asia-Pacific region (China, Japan, India, South Korea and other regions in the Asia-Pacific region), the Americas (Canada, Mexico, the United States, other regions in North America) and South America, Europe (the United Kingdom, Germany, France, Italy and other regions in Europe) And the rest of the world.
According to observations, North America has always dominated the global IoT chip market and is expected to maintain its market position in the next few years. Factors such as the existence of a large number of IoT chip suppliers and the most advanced development centers in the region have promoted the growth of the market.
In addition, the increasing popularity of artificial intelligence and Internet of Things technologies and consumers’ increasing preference for smart connected devices have promoted the development of the Internet of Things chip industry in the region. In addition, the huge technological progress and increasing investment in the manufacturing industry have promoted the growth of the IoT chip market.
In terms of revenue from the IoT chip market, Europe ranks second in the world. Increasing digitization and automation of vertical industries in the region, as well as highly reliable Internet connections, are driving the IoT chip market.
Manufacturing companies are increasingly adopting 5G-enabled IoT systems and connected devices, as well as the existence of key technology providers, which are also driving market growth. In addition, a large amount of R&D investment to promote the rapid development of the basic infrastructure of network connection and the end-use vertical field has promoted the demand of the IoT chip market.
The Asia-Pacific region is witnessing the soaring market value of IoT chips. Factors such as the adoption of 5G technology and the acceleration of AI/ML have increased the market share of IoT chips in the region. In addition, the strong presence of consumer electronics manufacturers and manufacturing industries in the region promotes revenue in the IoT chip market.
The increase in government initiatives for the development of smart homes and smart cities has promoted the growth of the IoT chip market. In addition, increasing attention to improving Internet connectivity and high R&D investment are the main factors affecting market growth in the region. China has the largest share of the IoT chip market in the region, followed by Japan and India.
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Competitive landscape
The IoT chip market will witness important strategic approaches such as expansion, collaboration, mergers and acquisitions, and advanced technology integration. Leading industry players are making strategic investments to promote R&D activities and develop expansion plans.
For example; Recently, on January 29, 2021, Cavli Wireless announced a partnership with GCT Semiconductor to obtain chipset and industrial-grade manufacturing licenses for LPWAN, LTE and IoT chip modules in India for smart cities, automobiles, energy and utilities The Internet of Things applications power the global manufacturing, healthcare, and agricultural sectors.
Famous players operating in the global IoT chip market include:
- Qualcomm Technologies, Inc (United States)
- Intel Corporation (United States)
- Texas Instruments (USA)
- Microchip Technology Inc. (United States)
- NXP Semiconductors NV (Netherlands)
- MediaTek Inc. (Taiwan)
- Renesas Electronics Corporation (Japan)
- STMicroelectronics NV (Switzerland)
- Huawei Technologies Co., Ltd. (China)
- Cypress Semiconductor Corporation (United States)
- NVIDIA Corporation (United States)
- Advanced Micro Devices, Inc. (United States)
- MediaTek Inc. (Taiwan)
- Samsung Electronics Co., Ltd. (Korea)
- Microchip Technology Inc. (United States)
- Telit (Italy)
- Silicon Laboratories (United States)
- Nordic Semiconductor ASA (Norway)
- Marville (Bermuda)
- Semtech Corporation (United States)
- AMD (United States)
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Industry Trends:
Smart cities are the latest trend in the current IoT chip industry. Metropolitan areas with enhanced indoor and outdoor connectivity around the world are adopting smart devices to obtain data and insights to better manage assets, resources, and services. Artificial intelligence and machine learning are increasingly integrated on IoT chips, enabling applications to model and understand their operating environment and make informed decisions.
Companies that have invested in the Internet of Things will gain huge competitive advantages and new opportunities through massive amounts of data. With the IoT chip market trend, such as the application of embedded machine learning to IoT devices and low-power wide area network (LPWAN) technology, companies are approaching a new era of innovation.
In addition, smarter devices are expected to solve problems related to bandwidth and latency, and smarter chips and autonomous chips are expected to support the maturity of enterprises this year. With the increasing popularity of cloud services, commercial IoT experts and the most reliable IoT networks will expand the market for IoT chips.
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