Growth of the automotive and healthcare sectors are primarily fueling the demand in the global IoT chip market. Furthermore, commendable ability of products in the global IoT chip market to process as well as manage massive amount of information and data generated through various connected devices is also boosting the sales in the industry. However, factors such as high cost of IoT chip technology and products as well as restricted throughput may act as powerful restrains for the global IoT chip market in coming years.
Products in the global IoT chip market find applications in a wide number of end use industry verticals. These include automotive and transportation, environmental monitoring, consumer application, metropolitan scale deployments, medical and healthcare, energy management, infrastructure management, retail, building and home automation, wearable devices, manufacturing, industrial, and media, among others. Increasing demand from automotive, healthcare, and retail industries is driving the growth in the global IoT chip market.
Some of the key incumbent players and manufacturers functional within the global IoT chip market include AMD, Arduino, ARM Holdings PLC, Atmel Corporation, Marvell Technology Group, Intel, Microchip Technology, Inc., NVIDIA, Samsung Electronics, Semtech, ST Microelectronics, Whiznets, Texas Instruments, Cypress Semiconductor, Electric Imp., Freescale Semiconductor or NXP semiconductors, MediaTek, Inc., Qualcomm, Renesas Electronics, and Silicon Labs, among others. Types of products offered by the players and manufacturers in the global IoT chip market include processors, connectivity IC, logic devices, sensors, and memory devices.
Geographically, the global IoT chip market is divided into seven major regions, such as North and Latin America, Western Europe, Eastern Europe, Middle East and Africa, Japan, and Asia Pacific excluding Japan. North America region is expected to witness significant growth in global IoT chip market in coming years, owing to the presence of massive number of IoT chips manufacturers and vendors in Canada and the United States. Furthermore, rising practice of using IoT technologies in various regional industries such as healthcare, electronics, and automotive is also anticipated to favor the expansion of the global IoT chip market in North America in the next few years.
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