Industrial IoT Chipset Market is estimated to grow at a CAGR of 15.4% during the forecast period due to rising investment towards manufacturing process optimization. Industrial IoT Chipset Market is witnessing a notable growth. Demand for smaller components with specific results in order to promote miniaturization and the need to cut material costs is propelling advancements in the Industrial IoT chipset market. Smaller and cost effective goods lead to advances in manufacturing methods. Furthermore, several emerging countries like China, India and Japan are investing heavily in research and development to encourage the use of IoT, which over the forecast period is projected to boost the demand for IoT chipsets. The growing demand for application-specific MCUs and a diverse SOC architecture is another important factor evident in the growth of the industrial IoT chipset market. The Industrial IoT chipset supports various communication protocols that are widely used in the automation industry. One of the most significant technologies present in the market is the use of NB-IoT technology.
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The introduction of NB-IoT proved revolutionary and increased the use of IoT chipsets for industries. NB-IoT is a Wireless LPWA technology which does not function on LTE devices. A significant trend that can strongly increase the IoT market is the implementation of NB-IoT. NB-IoT is encouraged by several variables such as wide-ranging network operation, increased energy efficiencies, the absence of an NB-IoT gateway, cost savings, reliability, and connection to a wide range of frequencies. This is driving the adoption of IoT chipset in industries. The introduction of non-volatile SRAM memory devices has proved to be a boon for the IoT chipset market. IoT devices also generate lots of data which requires a lot of memory storage for these devices. These memory storages are designed according to the need of the segment where IoT devices are going to be used. In IoT chipset market metrics such as size, packaging, integration, interface, performance, temperature, low-power, low-voltage and cell density, all are design criterion that vary widely from segment to segment. NVRAMs are used in various industrial market segments, including industrial automation, energy management, industrial control, process measurement and test measurement. Global Industrial IoT Chipset Market was valued at US$ 459.25 million in 2018 and is expected to reach US$ 1,665.96 million by 2027, growing at an estimated CAGR of 15.4% over the forecast period.
The detailed research study provides qualitative and quantitative analysis of industrial IoT chipset market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- The global Industrial IoT Chipset Market in 2018 was dominated by Asia Pacific. As smart towns and home automation are increasing in the region, the continued developments in IoT technology generate a high demand for better wireless connectivity solutions that meet the latest automation and transport segments.
- Major players operating in the market invest heavily in R&D, which is predicted to boost market growth over the forecast period. Technological developments in IoT still require better wireless connectivity alternatives to encourage fresh applications in industrial automation.
- The primary industry players include Altair Semiconductor, Intel, MediaTek, NXP Semiconductors, QUALCOMM, SAMSUNG, Cypress Semiconductor Corporation, Texas Instruments Incorporated, Microchip Technology Inc., Mediatek Inc., and STMicroelectronics among others.
Industrial IoT Chipset Market:
- Connectivity IC
- Memory Device
- Logic Device
- Industrial PC chipsets
- IoT Ethernet switches chipsets
- IoT gateway chipsets
- North America
- Asia Pacific
- Middle East & Africa
- Latin America