At 13.2% CAGR to 2022, IoT Chip Market Growth Led by Connectivity ICs

The IoT chip market is expected to be valued at USD 14.81billion by 2022, growing at a CAGR of 13.2% from 2016 to 2022 driven by growing market of connected devices as well as increasing investments in the IoT industry led by Connectivity ICs.

Pune, India – February 1, 2017 /MarketersMedia/ —

The growth of the IoT chip market can be attributed to the growing market of connected devices as well as increasing investments in the IoT industry. However, the lack of common communication protocols and communication standards across platforms and high power consumption by connected devices are hindering the growth of the IoT chip market.

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Connectivity ICs held the largest share of the IoT chip market in 2015. The demand for connectivity ICs is expected to be majorly driven by the automotive and transportation sector. The increasing usage of IoT in automotive and transportation requires better wireless connectivity technologies to support new segments such as connected cars and intelligent transportation systems (ITS), which will result in increasing demand for connectivity ICs.

The IoT chip market for the retail end-use application is expected to grow at the highest CAGR from 2016 to 2022.The growing penetration of IoT-related products and services such as smart grocery, demand-aware warehouse, and connected consumer would complement the growth of IoT chips in retail applications.

The companies that are profiled in this report are Intel Corporation (U.S.), Qualcomm Incorporated (U.S.), NXP Semiconductors N.V (Netherlands), Texas Instruments Incorporated (U.S.), STMicroelectronics N.V. (Switzerland), MediaTek Inc. (Taiwan),Microchip Technology Inc. (U.S.), Renesas Electronics Corporation (Japan), Huawei Technologies Co., Ltd. (China), NVIDIA Corporation (U.S.), Cypress Semiconductor Corporation (U.S.), Advanced Micro Devices, Inc. (U.S.), and Samsung Electronics Co., Ltd. (South Korea).

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This report covers the IoT chip market segmented on the basis of region into North America, Europe, Asia-Pacific, and Rest of the World. The North American region held the largest share of the IoT chip market in 2015 owing to the strategic initiatives taken by many large American technology firms and increased research and development in the field of IoT. The market in APAC is expected to grow at the highest rate from 2016 to 2022 owing to the huge investments by the companies for the development of IoT.

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Release ID: 166134