NEW YORK, Feb. 23, 2016 /PRNewswire/ -- "Integration of connectivity capabilities in an increasing number of devices and applications would drive the IoT chip market"
The IoT chip market size, in terms of value, is expected to grow from USD 4.58 billion in 2015 to USD 10.78 billion by 2022, at a CAGR of 11.5% between 2016 and 2022. Connectivity is a key capability required in IoT applications, both for consumer and enterprise infrastructure devices. Within the embedded device space, connectivity and network processing-related functions are increasingly being combined with embedded processors in various applications.
"Wearable device market to gain maximum traction during the forecast period"
The wearable devices market is estimated to grow at the highest CAGR during the forecast period and hold the largest market share by 2022. The growing popularity of Internet of Things and the increasing adoption of smart watches and activity trackers in the consumer markets are the major factors driving the growth of the wearable device market. The IoT chip market is also expected to witness growth in healthcare, consumer electronics, building automation, industrial, and automotive & transportation applications.
"APAC market for IoT chip to grow at the highest rate during the forecast period"
Countries such as China, India, and Japan are aggressively taking initiatives such as heavy investments in R&D to encourage the adoption of Internet of Things in the region, which is expected to boost the demand for IoT chip in the near future. The APAC market comprises developing economies such as China and India—which have a huge potential for the applications of Internet of Things—and Japan, which is home to many large companies such as Fujitsu Ltd. and Toyota Motor Corporation. These emerging markets are driving the growth of the IoT chip market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profile of primary participants is given below:
- By Company Type: Tier 1 – 55 %, Tier 2 – 20% and Tier 3 – 25%
- By Designation: C-level – 60%, Director Level – 25%, Others – 15%
- By Region: North America – 10%, Europe – 20%, APAC – 40%, RoW – 30%
Governments across the globe are supporting and funding research and development in Internet of Things to boost their productivity. The investment of governments in future technologies provides huge opportunities for the semiconductor companies, thus driving the IoT chip market.
The key players in the IoT chip market profiled in the report are as follows:
1. Intel Corporation
2. Qualcomm Incorporated
3. ARM Holdings PLC
4. Atmel Corporation
5. Texas Instruments Inc.
6. Freescale Semiconductor, Inc.
7. NXP Semiconductors
8. Mediatek Inc.
9. Microchip Technology Inc.
10. Renesas Electronic Corporation
11. ST Microelectronics
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the IoT chip market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.
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