IoT Chip Market Overview
An overview of conceptual frameworks, analytical approaches of the IoT Chip market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The IoT Chip market is expected to grow at a significant rate in the near future.
The global IoT Chip market is estimated to reach at a value of US$ xx Mn by the end of 2020 and expected to reach at a value of US$ xx Mn by 2028 with a significant CAGR of xx%
IoT Chip Market Definition
The Internet of Things may be a topic in the headlines in the industry although it is not a fresh concept. The term “Internet of Things'' (IoT) has been around in the markets for quite a while now, and the scope of “smart” applications that come under this widening category is extensive and increasing. The Internet of Things serves its utility in numerous industries across the world, including industrial applications and buildings, health and biosciences, security, retail, IT and networks, not to say home and consumer segment.
The Internet of Things (IoT) allows us to start our cars, control all electric appliances, monitor our heart rate and sleep patterns as well as the overall well-being and many other things by just using our smartphones.
Fundamentally, the Internet of Things (IoT) pertains to a system of internet-connected and interrelated entities that have the capability to gather and convey data over a wireless network without any human intrusion.
Furthermore, an IoT chip is a tiny electronic instrument inserted in entities, electronic devices, and machines. It links to wireless networks and transmits and obtains data. The IoT chip often referred to as “radio chip” comprises the same data circuits and technology which are usually employed in mobile phones.
IoT Chip Market Dynamics
The technologically advancing and revolutionizing world is the primary factor that is propelling the development of internet connectivity across the world thereby driving the growth of the global IoT chip market. With the same token, the increasing internet connectivity, worldwide, is also boosting the growth of low-cost smart wireless sensor networks among consumers globally, thus further fueling the growth of the global market of IoT chips.
More importantly, there is a massive demand for automation development worldwide owing to the escalating demand of enhanced standards of living, energy-efficient solutions, as well as improved security, which is ultimately acting as another major factor that is positively accelerating the growth of the global IoT chip market in the near future.
In addition to that, the adoption of the internet of things by the majority of the giant industries in the global markets, comprising the healthcare and automotive industry is also playing a positive role in supporting the growth of the global IoT chip market in the years to come.
In the automotive space, according to a study from New York-based management consulting service Oliver Wyman, within a few years, most of the vehicles across the world will be internet-ready. The connected cars will be able to interact with manufacturers and owners for software updates and maintenance, while data accumulated on our driving habits and usage of in-car systems will help manufacturers adapt fresh models to meet dynamic needs. Such factors are expected to provide numerous growth opportunities for the global IoT chip market in the forthcoming future.
Moreover, there has been abundant funding from the governments for R&D which is anticipated to give major breakthroughs to the growth of the global IoT chip market over the coming years. However, the consequently rising concerns about the security and privacy of user data is likely to bottle up the growth of the global IoT chip market over the forecast period.
IoT Chip Market Segmentation
The global IoT chip market is segmented on the basis of hardware, power consumption, end-use applications, and regions. On the basis of the hardware, the IoT chip market is segmented into Processors, Connectivity Integrated Circuits (ICs), Sensors, Memory devices, Logic devices. On the basis of power consumption, the market is segmented into Less than 1 W, 1–3 W, 3–5 W, 5–10 W, and More than 10 W. Further, the IoT chip market is segmented on the basis of end-use applications into Wearable Devices, Healthcare, Consumer Electronics, Automotive & Transportation, Building Automation, Manufacturing, Retail, BFSI, Oil & Gas, Agriculture, and Aerospace & Defense.
The research report classifies the global IoT Chip market based on hardware, power consumption, end-use applications, and regions.
Connectivity Integrated Circuits (ICs)
Less than 1 W
More than 10 W
Automotive & Transportation
Oil & Gas
Aerospace & Defense
IoT Chip Market Key Players
The global IoT Chip market is dominated by Intel Corporation, Texas Instruments Incorporated, Qualcomm Incorporated, NXP Semiconductors N.V., MediaTek Inc., Marvell Technology Group Ltd., Microchip Technology Inc., Cypress Semiconductor Corporation, Renesas Electronics Corporation, Huawei Technologies Co., Ltd., NVIDIA Corporation, Samsung Electronics, and Advanced Micro Devices, among others.
MMC Overview on IoT Chip Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the IoT Chip market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market. The report is titled as ‘IoT Chip Market: Opportunity Analysis and Future Assessment 2020-2028’.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Concerns for use of IoT Chip
Advantages of IoT Chip
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.