IoT Chips Market Trends

Skyquest Technology's expert advisors have carried out comprehensive research on the iot chips market to identify the major global and regional market trends and growth opportunities for leading players and new entrants in this market. The analysis is based on in-depth primary and secondary research to understand the major market drivers and restraints shaping the future development and growth of the industry.

IoT Chips Market Dynamics

IoT Chips Market Drivers

Increasing Adoption of 5G Connectivity

  • The international expansion of 5G networks is one of the major market drivers for the IoT chips market. 5G allows for faster, more consistent connectivity, with real-time data transmission and increased IoT device functionality. This promotes the need for IoT chips, particularly in automotive, smart cities, and healthcare markets where fast connectivity is a must.

Rising Demand for Smart Devices

  • The growing popularity of smart devices, including wearables, home automation systems, and connected appliances, is driving the global IoT chips market growth. Customers are in growing demand for connected, smart solutions, compelling manufacturers to innovate and implement IoT chips for frictionless connectivity, power efficiency, and added capabilities in every device, driving market growth.

IoT Chips Market Restraints

Complexity in Standardization

  • The lack of standardized protocols for IoT devices and chips poses a challenge to interoperability across different platforms and industries. This intricacy in providing smooth communication between networks and devices can retard the implementation of IoT solutions, delaying the development and deployment of IoT chips worldwide.

Limited Power Efficiency of Some IoT Chips

  • While IoT devices require continuous, low-power operations, some IoT chips still face challenges in power efficiency. High-power consumption devices have challenges with battery life and energy expenditure, particularly for remote or mobile applications. Such a constraint could impede the development of specific IoT segments, especially in industrial and consumer sectors.
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Global IoT Chips Market size was valued at USD 454.82 Billion in 2023 poised to grow from USD 497.12 Billion in 2024 to USD 1012.56 Billion by 2032, growing at a CAGR of 9.3% in the forecast period (2025-2032).

The competitive landscape of the global IoT chips market outlook is marked by key players like Qualcomm, Intel, Broadcom, MediaTek, and NXP Semiconductors. These firms have an emphasis on innovation, strategic alliances, and acquisitions. For instance, Qualcomm highlights 5G and AI integration in IoT chips, while Intel invests in future semiconductor technologies. MediaTek targets affordable IoT solutions, and NXP targets automotive and industrial IoT segments, with a focus on improving connectivity and power efficiency in their offerings. 'Qualcomm Inc. (USA)', 'Intel Corporation (USA)', 'Broadcom Inc. (USA)', 'Texas Instruments Incorporated (USA)', 'NXP Semiconductors N.V. (Netherlands)', 'STMicroelectronics (Switzerland)', 'MediaTek Inc. (Taiwan)', 'Samsung Electronics Co., Ltd. (South Korea)', 'Renesas Electronics Corporation (Japan)', 'Infineon Technologies AG (Germany)', 'Nordic Semiconductor ASA (Norway)', 'Analog Devices, Inc. (USA)', 'Microchip Technology Inc. (USA)', 'Silicon Laboratories Inc. (USA)', 'HiSilicon (Huawei Technologies Co., Ltd.) (China)'

The international expansion of 5G networks is one of the major market drivers for the IoT chips market. 5G allows for faster, more consistent connectivity, with real-time data transmission and increased IoT device functionality. This promotes the need for IoT chips, particularly in automotive, smart cities, and healthcare markets where fast connectivity is a must.

Integration of AI in IoT Chipsets: IoT chipmakers are increasingly integrating AI functionality directly into chips to make real-time decision-making at the edge possible. This transition enables applications such as smart surveillance, predictive maintenance, and autonomous driving, minimizing latency and cloud reliance while maximizing processing efficiency and responsiveness in numerous industry verticals.

How does 5G Deployment Support IoT Chip Growth in North America?

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Global IoT Chips Market
IoT Chips Market

Report ID: SQMIG45O2061

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