The Energy Storage SystemsMarket was valued at USD 4.5 Billion in 2023 and is estimated to reach USD 7.67Billion by 2033, growing at a CAGR of 5.8 % from 2024 to 2033.  

Scope of the Market:

IoT chips cater to a wide range of device types and form factors, including sensors, actuators, wearables, smart appliances, industrial equipment, automotive systems, and infrastructure components. Security is a critical aspect of IoT deployments, and IoT chips play a key role in ensuring the confidentiality, integrity, and availability of data and devices. With the rise of edge computing and artificial intelligence (AI) at the network edge, there is a growing need for IoT chips with enhanced processing power, low latency, and efficient power consumption. The IoT chip market is expansive and encompasses a wide range of technologies, applications, and services aimed at enabling connectivity, intelligence, and automation in IoT deployments across diverse industries and use cases. This market encompasses security features such as hardware-based encryption, secure boot, authentication mechanisms, and secure element integration to protect against cyber threats, tampering, and unauthorized access. Emerging markets such as smart agriculture, smart buildings, and environmental monitoring present new opportunities for IoT chip manufacturers to address unmet needs and deliver innovative solutions.

Lack of standardization and interoperability across IoT platforms, protocols, and devices can hinder ecosystem integration and scalability, limiting the adoption and deployment of IoT solutions. The increasing connectivity and complexity of IoT ecosystems expose devices and networks to cybersecurity threats such as data breaches, malware attacks, and device hijacking, undermining trust and confidence in IoT solutions.

Economic Impact of Covid-19:

The COVID-19 pandemic has had a mixed impact on the Internet of Things (IoT) chips market, with both positive and negative effects observed across different segments and regions. In the early stages of the pandemic, the IoT chips market experienced disruptions in the global supply chain due to factory shutdowns, logistical challenges, and restrictions on international trade. While some sectors such as healthcare, remote monitoring, and home automation experienced increased demand for IoT solutions to address new challenges and requirements arising from the pandemic, other sectors such as automotive, smart cities, and industrial automation faced slowdowns or postponements in IoT deployments due to economic uncertainties and disrupted operations. This increased focus on digitalization and automation drove demand for IoT solutions and connected devices, including IoT chips, to enable remote monitoring, data analytics, and process optimization. The rollout of 5G networks and the adoption of edge computing architectures gained momentum during the pandemic as organizations looked to enhance network performance, reduce latency, and enable real-time data processing at the edge. This increased connectivity and computing capabilities drove demand for IoT chips optimized for 5G connectivity, edge AI, and edge analytics applications.

The proliferation of IoT devices across industries such as healthcare, manufacturing, agriculture, smart cities, automotive, and consumer electronics is driving the demand for IoT chips.The rollout of 5G networks is expected to fuel the adoption of IoT devices and applications that require high-speed, low-latency connectivity. IoT chips capable of supporting 5G connectivity standards and protocols offer opportunities for improved performance, reliability, and scalability in IoT deployments, especially in sectors like industrial automation, smart cities, and connected healthcare.

Key Players:   

• Qualcomm Incorporated
• Texan Instrument Incorporated
• MediaTek Inc.
• Intel Corporation
• Dell
• NXP Semiconductors
• Marvell Technology Group Ltd
• Microchip Technology Inc
• Cisco Systems
• Huawei Technologies Co. Ltd.
• NVIDIA Corporation
• Renesas Electronics Corporation.
• Cypress Semiconductor Corporation
• Samsung Electronics Co. Ltd
• Others

Recent Developments in the IoT ChipMarket.

In 2023: Renesas acquires Sequans

In August 2023, Renesas Electronics a Japan-based semiconductor manufacturer acquired Sequans Communication a France-based IoT chipmaker for USD 249 Million, which is expected to close this deal in early 2024, poised to expand Renesas’s cellular IoT products into microcontrollers and other products which will enhance its WAN market.

June 2023: Renesas completed its acquisition with Panthronics AG.

Renesas completed its all-cash acquisition of Panthronics AG, an Austrian-based fabless semiconductor company specializing in wireless products. The deal was made in USD 95 Million, and Renesas released 13 designs leveraging Pathronics NFC Technology, showing embedded processing power, analogy portfolio, and connectivity.

Furthermore, Renesas has also acquiredStradian (2022),Dialog Semiconductor (2021), and Integrated Device Technology Inc (2019), and Intersil (2017).

IoT-related acquisition announcement in 2023

Moreover, Companies like SpaceX, OneWeb, and Amazon's Project Kuiper, planning to deploy large-scale satellite constellations to provide broadband internet access to underserved areas on Earth. Integrating 5G technology into these satellite constellations could enable high-speed, low-latency connectivity for IoT devices, supporting a wide range of applications in industries such as transportation, utilities, and emergency response.

IoT ChipMarket: Key Benefits:

1. The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
2. Quantitative and Qualitative analysis of the current market.
3. Estimations for the forecast period 2033.
4. Historical data and forecast data.
5. Recent developments and trends in the market.   
6. Market share of the market players, company profiles, SWOT analysis, and competitive landscape.
7. Covid-19 Impact analysis

IoT ChipMarket Segmentation:

By Product:

• Sensors
• Processors
• Connectivity Ics
• Login Devices
• Memory Devices

By Application:

• Industrial
• Healthcare
• Consumer Electronics
• Automotive and Transportation
• Agriculture
• Retail
• Oil & Gas
• Others

By Power Consumption:

• Less than 1W
• 1-3 W
• 3-5 W
• 5-10 W
• More than 10 W

By Region:

Asia-Pacific

• Japan
• China
• India
• Australia
• New Zealand
• Rest of Asia-Pacific

 

North America

• US
• Canada
• Mexico

Europe

• Germany
• France
• Italy    
• Spain
• UK
• Rest of Europe

The rest of the World

Each of the market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and competitive analysis.

Research Scope:

Report Scope	Details
Base Year	2023
Historical Years	2019 to 2022
Forecast Years	2024 to 2033
Market Size 2023	USD4.5BN
Market Revenue 2033	USDBN
Growth Rate 2024- 2033	5.8 %
Report Coverage	Trends, SWOT Analysis, Competitive Landscape, DROs, Revenue Forecast, PEST Analysis.
Segments Covered	Product, Application, Power Consumption,End-User,Region
Companies Mentioned	Qualcomm Incorporated, Texan Instrument Incorporated, MediaTek Inc., Intel Corporation, Dell, NXP Semiconductors, Marvell Technology Group Ltd, Microchip Technology Inc, Cisco Systems, Huawei Technologies Co. Ltd., NVIDIA Corporation, Renesas Electronics Corporation., Cypress Semiconductor Corporation, Samsung Electronics Co. Ltd.
Customization	Yes

 

Regional Analysis:

North America dominates over other regions with a growing market share in the coming years. It remains a hub for innovation and investment in IoT technologies, strategic partnerships, and acquisitions to drive innovation and gain a competitive edge in the IoT chip market. The major players for semiconductors and technology that play a key role in the IoT chip market, are companies such as Qualcomm Incorporated, Intel Corporation, Texas Instruments Incorporated, Broadcom Inc., and Marvell Technology Group Ltd. These companies develop a wide range of IoT chipsets, microcontrollers, sensors, connectivity solutions, and system-on-chip (SoC) platforms tailored for diverse IoT applications and industries. The increasing demand for 5G networks is driving demand for IoT chips capable of supporting high-speed, low-latency wireless connectivity for IoT devices and applications. Regulatory bodies such as the Federal Communications Commission (FCC) in the United States play a role in setting regulations related to spectrum allocation, radio frequency emissions, and device certification for IoT products and technologies.

 

IoT Chips Market Share by Region 2024-2033 (%)

Europe is expecting a steady growth rate in the coming years. Countries like France, the UK, Spain, and Germany are shifting their focus on adopting IoT for business applications and consumer goods. Furthermore, the rise in sectors such as healthcare, automation, and BFSI is propelling the IoT chip market to grow in the European region.

Key questions answered by this report.

1. Top market players contributing to the revenue?
2. Trending strategies by the players?
3. Which region will be the leading one in the forecast period?
4. Factors that drive the Global IoT ChipMarket?
5. Which factors will affect the Global IoT ChipMarket?
6. How Covid-19 pandemic impacted the growth of the Global IoT ChipMarket?
7. Which Segment accounted for the Global Energy Storage SystemsMarket shares?

Frequently Asked Questions (FAQ) :