Global IoT Chips Market, By Hardware (Sensor, Logic Device, Processor, Memory Device, Connectivity IC), By End-User (Agriculture, Automotive & Transportation, Consumer Electronics, Wearable Devices, Building Automation, Manufacturing, Retail, BFSI, Oil & Gas, Aerospace & Defense, Healthcare) By Power Consumption (Less than 1 W, 1–3 W, 3–5 W, 5–10 W, More than 10 W ), By Geography (North America, Europe, Latin America, Asia-Pacific, Middle East, and Africa) – Industry Share, Growth, Opportunity, Trends and Forecast to 2028

IoT chips are also called “radio chips”. IoT chips include various technologies and data circuits such as mobile phones. The IoT chip is a wireless connection flooded with software, sensors, and other technologies that help send and receive information. The hardware sensor segment is gaining increasing adoption in the IoT chip market.

Demand for IoT chips will be very important and exponential growth is expected. Advances in digitalization are actively contributing to driving the market for IoT chips. Recently, the use of the Internet in developing countries is increasing, and the market for IoT chips is booming. Increased R&D activities in various industries. Increasing the world population will increase market demand and market penetration.

COVID-19 Impact on IoT Chips Market
The global spread of the COVID-19 pandemic exposes the development of the world economy to unprecedented and severe challenges, and the world economy is under greater downward pressure. The impact of pandemics on the economy has stagnated or slowed economic activity in many countries, reduced global demand, significantly reduced trade and investment, and affected global industrial chains. Demand-based recovery scenarios were predicted and analyzed in this study.

According to Pheonix Research, the “Global IoT Chip Market” will be valued at US $ AB million in 2020 and is projected to reach a market value of US $ XY million by 2028. North America dominates the global IoT chip market and is expected to witness a CAGR of NN% during the forecast period 2021-2028.

North America holds the largest share of the IoT chip market in the world, followed by Europe and the Asia Pacific region. The United States dominates the North American market due to the increase in advanced technology and improvements in lifestyle-based IoT chips in the region. In addition, the region has an established IoT infrastructure that enables faster deployment of new technologies.

Dominant companies in IoT Chips Market are Marvell Technology Group Ltd., Intel Corporation, Texas Instruments Incorporated, Samsung Electronics, Cypress Semiconductor Corporation, NXP Semiconductors N.V., MediaTek Inc., Huawei Technologies Co., Ltd., Renesas Electronics Corporation, Dialog Semiconductor, Silicon Labs, Qualcomm Incorporated, Microchip Technology Inc., STMicroelectronics N.V., GainSpan, NVIDIA Corporation, Expressif Systems, TE Connectivity Ltd, Nordic Semiconductor, and Advanced Micro Devices.

The Exhaustive Report “Global IoT Chips Market (2021-2028)” has been fragmented into power consumption, hardware, end-user, and region.