IoT Chip Market Is Expected To Reach $895.05 Billion By 2030

San Francisco, 27 December 2024: The Report IoT Chip Market Size, Share & Trends Analysis Report By Product (Connectivity Integrated Circuits, Logic Devices), By End Use (Consumer Electronics, Wearable Devices), By Region (North America, Europe), And Segment Forecasts, 2024 - 2030

The global IoT chip market size to reach USD 895.05 billion by 2030 and is expected to grow at a CAGR of 9.3% from 2024 to 2030. The market is driven by the increasing demand for connected devices, rapid urbanization, and the need for efficient and cost-effective solutions. The proliferation of smart homes, cities, and industries has led to a surge in demand for IoT-enabled devices, which requires advanced processing capabilities, memory, and connectivity. Additionally, the need for real-time data analysis and processing is propelling the adoption of IoT chips with advanced capabilities such as artificial intelligence (AI), machine learning (ML), and edge computing.

The increasing adoption of smart home devices, wearable technology, and industrial IoT applications necessitates the development and deployment of efficient and versatile IoT chips. These chips are fundamental to enabling the connectivity, processing power, and energy efficiency required for IoT devices to function effectively. As more devices become interconnected, the demand for advanced IoT chips are expected to continue to rise in the coming years.

The increasing demand for IoT-enabled devices across various industries such as industrial automation, healthcare, transportation, and consumer electronics is driving the growth of the market. The growing need for automation, remote monitoring, and predictive maintenance in industries has led to a surge in demand for IoT-enabled devices that can process large amounts of data and provide real-time insights. Additionally, the growing adoption of smart home devices such as smart speakers, thermostats, and security cameras is also contributing to the growth of the market.

Access Research Report of IoT Chip Market @  https://www.grandviewresearch.com/industry-analysis/iot-chip-market-report

Furthermore, the incorporation of AI into IoT chips is reshaping the semiconductor industry by driving demand for more powerful and efficient IoT chipsets. Semiconductor companies are focusing on developing AI-specific architectures, such as embedded GPUs, accelerators, and neuromorphic computing solutions, to meet the growing requirements of AI-enabled IoT devices. This trend is expected to present significant growth opportunities for the market.

Companies operating in the market are implementing various strategies to gain a competitive edge in the market. Some companies are focusing on partnerships and collaborations with other players in the ecosystem to expand their product offerings and reach new markets. For instance, in April 2024, Qualcomm Technologies, Inc. acquired Foundries.io, a UK-based provider of open-source embedded software and cloud-native platforms for IoT and edge computing applications. The acquisition is part of Qualcomm's strategy to expand its IoT product portfolio and strengthen its open-source expertise to accelerate the commercialization of its Qualcomm Linux offerings. Such strategies by market players are expected to fuel market growth in the coming years.

Recent Developments

  • In April 2024, Qualcomm Technologies Inc. launched a new ultra-low power Wi-Fi IoT chip designed to compete with Bluetooth technology. This new chip aims to address the power efficiency and connectivity challenges faced by IoT devices, offering improved battery life and enhanced performance for a wide range of connected devices. 
  • In April 2023, Qualcomm Technologies Inc. introduced a series of IoT chips, including the QCS8550 and QCM8550, which are higher-powered and designed for applications such as drones and cloud gaming.
  • In May 2023, Intel Corporation unveiled a new product called Agilex 7 featuring the R-Tile chipset. This innovation introduces the first FPGA with CXL and PCIe 5.0 capabilities, making it the only FPGA with built-in IP support for these interfaces.

Key IoT Chip Company Insights

Some of the key players operating in the market include Qualcomm Technologies, Inc., Intel Corporation, among others.

  • Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, is an American multinational semiconductor and telecommunications company known for its advancements in wireless technology. The company specializes in designing and manufacturing semiconductors for mobile devices and IoT solutions. The company is renowned for its snapdragon processors and leadership in 5G technology. The company has a significant global presence, driving innovation in connectivity solutions across consumer electronics and industrial sectors.
  • Intel Corporation is known for its powerful microprocessors and a broad range of computing solutions. The company provides a wide range of products from personal computers, data centers, and IoT applications. With a strong focus on innovation, the company is at the forefront of technologies such as artificial intelligence, autonomous driving, and quantum computing, playing a crucial role in advancing the global computing infrastructure.

MediaTek, Inc., Samsung Electronics Co.Ltd, Microchip Technology, Inc. are some of the emerging market participants in the market.

  • MediaTek, Inc. provides system-on-chip solutions for wireless communications, high-definition television, and DVD and Blu-ray. They are known for their innovative chip designs that cater to a wide range of devices, including smartphones, tablets, smart TVs, and IoT devices. The company has been actively expanding its presence in the market by offering cost-effective and energy-efficient solutions.
  • Samsung Electronics Co., Ltd. is known for its consumer electronics, mobile devices, semiconductors, and other technology-related products. The company has been focusing on developing advanced semiconductor technologies to power various IoT applications.

Key IoT Chip Companies:

The following are the leading companies in the IoT chip market. These companies collectively hold the largest market share and dictate industry trends.

  • Qualcomm Technologies Inc.
  • Intel Corporation
  • STMicroelectronics N.V.
  • Texas Instruments Incorporated
  • NXP Semiconductors N.V.
  • Samsung Electronics Co. Ltd.
  • Analog Devices Inc.
  • MediaTek Inc.
  • Microchip Technology Inc.
  • Infineon Technologies AG

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

 

 

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