The global IoT chip market is valued at $ 11,980. 8 million in 2020, and it is expected to reach a value of 27.627.9 million USD by 2026, registering a CAGR of 14.98% over the forecast period, 2021-2026.
New York, November 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Internet of Things (IOT) Chip Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https : //www.reportlinker.com/p06129742/? utm_source = GNW
Due to both demand and supply factors, the growth in the number of IoT connections slowed in specific industries during the pandemic. Some IoT contracts have been canceled or postponed due to business closures or reduced spending. Demand for some IoT applications declined during the pandemic. For example, the demand for connected vehicles has fallen due to reduced usage and deferred spending on new cars. The ACEA also reported that demand for new cars in the European Union fell by around 28.8% in the first three quarters of 2020.
– Growing demand for automation and growing application of IoT devices in various end user verticals, such as healthcare, consumer electronics, industry, automotive, BFSI and retail , further drive adoption of IoT devices.
– According to projections by the Internet and Television Association, by 2020, the number of devices connected to the IoT should reach 50.1 billion compared to 34.8 billion in 2018. The growth is mainly attributed to integration connectivity skills across a wide range of devices. and applications, coupled with the development of various networking protocols which have significantly boosted the growth of the IoT chip market in several end user industries.
– With the rapid increase in the number of IoT devices, the need for chips for the construction of these IoT devices is also expected to increase during the forecast period. At the same time, reducing energy consumption associated with chip miniaturization will be a priority for manufacturers.
– For example, in June 2021, Impinj Inc. announced the introduction of three new RAIN RFID reader chips that enable IoT device manufacturers to meet the growing demand for item connectivity in retail applications , supply chain and logistics, consumer electronics, among other markets.
– Currently, NB-IoT, Cat-M1 and LTE control a significant portion of 4G IoT traffic. The increased deployment of 5G provides fast and efficient connectivity for Internet of Things (IoT) devices. Thus, the booming IoT space and the chipmakers supporting it are expected to further increase the demand for IoT chips during the forecast period.
Key market trends
The industrial segment is expected to experience significant growth
– With the evolution of IIoT, thanks to 5G connectivity and advancements in sensor technology, the number of IoT devices is expected to increase significantly by 2026. Industrial end-users are moving from one outlet to the next. data-driven decision making to real-time automated decision making. Additionally, factory automation is increasingly adopting IIoT for data generation which has provisions for internal customer engagement. Additionally, organizations are leveraging the IIoT to unlock crucial information about these traditionally black box environments in increasingly connected factories and industrial settings outside of the factory.
– In addition, Apotex has improved its manufacturing processes to automate manual processes. This includes ensuring consistent batch production by introducing RFID tracking, sorting and process flow tracking. As a result, the company had real-time visibility into manufacturing operations.
– Additionally, the industrial trend of IoT is being fostered by smart factory initiatives, such as the Smart Manufacturing Leadership Coalition (SMLC) in the United States. This drives and facilitates widespread adoption of manufacturing intelligence due to the massive amounts of machine and sensor data that require collection, processing, and decision formation.
– The deployment of the wireless chip, including the eLTE or NB-IoT chip for their manufacturing terminal, has gained ground over the years. For example, Huawei has worked with industrial partners to smartify devices used in traditional manufacturing to download equipment data and receive orders. An eLTE or NB-IoT chip is added to the manufacturing terminal to transmit the data generated by the terminal through the eLTE or NB-IoT network, allowing manufacturing data to be collected and orders to be issued.
Asia-Pacific expected to experience significant growth
– Asia-Pacific accounts for a significant portion of IoT spending, with major markets in Singapore and South Korea adopting IoT chips. According to the Organization for Economic Co-operation and Development, South Korea is the first major market to become more connected to the Internet by habitat.
– Advances in IoT are creating demand for better wireless connectivity solutions. In addition, supporting new automation and transportation segments, due to the growing trend of smart cities and home automation in the region, such as connected cars and intelligent transportation systems, is expected to fuel demand. of connected integrated circuits in the IoT chip market.
– In addition, Asian governments are deeply integrating IoT into their long-term development plans. For example, the Chinese central government has selected more than 200 cities to pilot smart city projects. Cities include Beijing, Shanghai, Guangzhou, and Hangzhou. In addition, India’s vision of turning 100 cities into smart cities is expected to promote electronics through smart homes and the automotive sector.
– The region is expected to be a leading provider in IoT spending as there is increased use of connected devices in industries such as manufacturing. The increased adoption of 5G contributes to the growth of the market in the coming years as there is an increase in IoT services.
The global Internet of Things (IOT) chip market is moderately competitive, with a considerable number of regional players. Companies are leveraging strategic collaborative initiatives and acquisitions to increase market share and profitability.
– July 2021 – Intel launched the latest generation of Intel Xeon W-3300 processors, available to its system integrator partners. Intel Xeon W-3300 processors deliver uncompromising performance, extended platform capabilities, and enterprise-grade security and reliability in a single-socket solution.
– June 2021 – Qualcomm introduced 7 new chipsets for IoT applications in various industries. Chips are equipped with features to support activities, such as built-in connectivity, sensor fusion, people identification and detection, object detection, edge detection, activity analysis and personalization. In addition, the chips are also designed to support warehouse management.
– May 2021 – Nordic Semiconductor announced the launch of the Power Management Integrated Circuit (PMIC). The nPM1100 combines a USB compatible input regulator with surge protection, 400mA battery charger and 150mA DC / DC step-down voltage regulator in a 2.075 x 2.075mm chip scale package.
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