Industrial IoT (IIoT) Chipsets

Industrial IoT (IIoT) Chipsets

Global Industrial IoT (IIoT) Chipsets Market to Reach US$97.8 Billion by 2030

The global market for Industrial IoT (IIoT) Chipsets estimated at US$19.2 Billion in the year 2023, is expected to reach US$97.8 Billion by 2030, growing at a CAGR of 26.2% over the analysis period 2023-2030. Industrial PCs Application, one of the segments analyzed in the report, is expected to record a 24.7% CAGR and reach US$39.1 Billion by the end of the analysis period. Growth in the IIoT Ethernet Switches Application segment is estimated at 27.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$5.2 Billion While China is Forecast to Grow at 35.0% CAGR

The Industrial IoT (IIoT) Chipsets market in the U.S. is estimated at US$5.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$26.3 Billion by the year 2030 trailing a CAGR of 35.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 20.6% and 23.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21.5% CAGR.

Industrial IoT (IIoT) Chipsets - Key Trends and Drivers

Industrial Internet of Things (IIoT) chipsets are integral to the advancement of smart manufacturing and automation, providing the essential hardware needed to connect industrial equipment to the internet. These chipsets enable the seamless communication between devices, systems, and sensors, allowing for real-time data collection, analysis, and control. IIoT chipsets are designed to handle the rigorous demands of industrial environments, offering robust performance, low power consumption, and high reliability. They are used in various applications such as predictive maintenance, energy management, and process automation, driving efficiency and innovation across industries like manufacturing, energy, transportation, and healthcare.

Recent technological advancements have significantly enhanced the capabilities of IIoT chipsets. Modern chipsets incorporate advanced features such as edge computing, which processes data locally on the device to reduce latency and improve response times. This is particularly crucial in industrial settings where immediate decisions are needed to ensure operational efficiency and safety. Additionally, advancements in wireless communication technologies, including 5G and LPWAN (Low Power Wide Area Networks), have expanded the connectivity options for IIoT devices, allowing for more flexible and scalable deployments. Enhanced security features, such as hardware-based encryption and secure boot processes, have also been integrated into IIoT chipsets to protect against cyber threats, ensuring the integrity and confidentiality of industrial data.

The growth in the IIoT chipsets market is driven by several factors, including the increasing adoption of automation and smart technologies in industrial sectors, advancements in semiconductor technology, and the rising demand for data-driven decision-making. The push towards Industry 4.0, which emphasizes the digital transformation of manufacturing processes, is a significant driver, as companies seek to enhance productivity and competitiveness through intelligent automation. Technological advancements in semiconductor manufacturing have led to the development of more powerful and efficient chipsets, facilitating their widespread adoption. Additionally, the growing focus on energy efficiency and predictive maintenance solutions, which rely on real-time data and analytics, is further propelling the demand for IIoT chipsets. These trends, coupled with the continuous evolution of wireless communication standards and the expansion of connected devices, are expected to drive substantial growth in the IIoT chipsets market in the coming years.

Select Competitors (Total 36 Featured) -

• Advanced Micro Devices, Inc.
• Analog Devices, Inc.
• Cisco Systems, Inc.
• Infineon Technologies AG
• Intel Corporation
• Mediatek, Inc.
• Micron Technology, Inc.
• NXP Semiconductors NV
• Qualcomm Technologies, Inc.
• Rambus, Inc.
• Semtech Corporation
• Siemens AG
• STMicroelectronics NV
• Texas Instruments, Inc.
• Toshiba Corporation;

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