Global Internet of Things Chip Market Analysis 2022
The Global Internet of Things Chip Market is expected to reach $712.35 billion by 2028 growing at a CAGR of 8.0% from 2021 to 2028. IoT chip devices contain sensors, software, and other technologies that aid in the transmission and reception of data through a wireless link. It is an internetworking of physical and virtual objects, which relate to each other with the help of cloud technology.
Factors such as growing low-cost smart wireless sensor networks and increasing inclination toward utilization of AI and 5G technologies are driving the growth of the market. However, concerns regarding the security and privacy of user data are restraining the growth of the market.
Based on application, the building automation segment is going to have a lucrative growth during the forecast period owing to the increasing demand for energy-efficient solutions, enhanced security, increased venture capital funding, and the constant need for improving the standards of living
The key vendors mentioned are Texas Instruments Incorporated, NVIDIA Corporation, STMicroelectronics N.V., MediaTek Inc., Samsung Electronics, Renesas Electronics Corporation, Qualcomm Incorporated, NXP Semiconductors N.V., Silicon Labs, Nordic Semiconductor, Microchip Technology Inc., TE Connectivity Ltd, Marvell Technology Group Ltd., Intel Corporation, Huawei Technologies Co., Ltd., GainSpan, Expressif Systems, Dialog Semiconductor, Cypress Semiconductor Corporation and Advanced Micro Devices.
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