IoT Chipset Market Size, Share and COVID Impact Analysis, By Product Type (Processor, Sensor, Connectivity IC, Memory Device, Logic Device, and Other Products), By End-Users (Healthcare, Consumer Electronics, Manufacturing, Automotive, BFSI, Retail, and Others), and Regional Forecast, 2024-2032

IoT chipsets are typically a composition of a microprocessor, memory, wireless connectivity modules, and sensors. The microprocessor is the chipset's central processing unit (CPU) and is responsible for executing instructions and managing data. The memory units in IoT chipsets store data and program instructions, allowing the chipset to function without a constant connection to the internet. The Wireless connectivity modules in these chipsets enable the device to connect to the internet or other devices without wires. The most common wireless connectivity technologies used in IoT devices include Wi-Fi, Bluetooth, and cellular networks. IoT chipsets are also comprised of various sensors used to collect data from surrounding, such as temperature, humidity, and motion. IoT chipsets are designed to be power-efficient, small, and cost-effective. They are often used in smart home appliances, wearables, industrial equipment, and medical devices. As the IoT market continues to grow, the demand for more advanced and specialized IoT chipsets is also increasing.

Impact of COVID-19 on the IoT Chipset Market:

The COVID-19 pandemic significantly impacted the semiconductor industry and the production of IoT chipsets. The pandemic disrupted global supply chains, which impacted the production and delivery of IoT chipsets and caused delays in the delivery of components and materials, resulting in production slowdowns and increased costs. Also, the pandemic decreased demand for IoT devices in some industries, such as automotive and aerospace, which reduced the production of IoT chipsets. However, shifting business to remote work and increased demand for remote monitoring and control systems, in healthcare and IT & telecommunication. Furthermore, the pandemic highlighted the importance of security in IoT devices, leading to an increased focus on developing secure IoT chipsets. The pandemic accelerated the adoption of digital technologies, including IoT devices, which has led to an increased demand for IoT chipsets.

Key Insights:

The report will cover the following key insights:

• Recent industry trends and developments.


• Competitive landscape & strategic key players.


• Complete background analysis, including an assessment of the global IoT Chipset market.


• Complete Analysis of Segments


• Impact of COVID-19 on the global IoT chipset market

Regional Analysis:

• North America region is dominating the global market in the IoT chipset market. The increasing use of IoT chipsets in the healthcare sector is expected to flourish in the North American region.


• The Europe market is estimated to follow the growth trends of North America during the forecast period. Furthermore, key players in the market are taking the initiative in researching and developing IoT chipsets, which is expected to boost the market in the forecast period.


• However, Asia Pacific is expected to show the highest CAGR during the forecast period. The growing adoption of the internet of things and artificial intelligence in Asian countries increases the demand for IoT chipsets in the region. This factor will be responsible for the growth of the market globally.


• Furthermore, the market in the Middle East & Africa and South America regions are moderately growing. However, Israel and Saudi Arabia are taking the initiative in researching and developing IoT chipset products for military and smart city use, which is expected to boost the market in the region.

Analysis by End Users.

IoT chipsets have a wide range of applications across various industries. IoT chipsets are used in healthcare to enable remote patient monitoring, improve patient care, and increase efficiency. IoT chipsets can also be used in hospital equipment, such as infusion pumps and medical ventilators, to monitor patients' conditions and adjust treatments as necessary, increasing its demand in the healthcare sector. Furthermore, IoT chipsets are used in the manufacturing industry to improve efficiency, reduce downtime, and optimize production processes. IoT chipsets are used to monitor and track inventory and optimize production schedules. IoT chipsets can also be used in predictive maintenance applications to detect potential equipment failures before they occur.

Moreover, IoT chipsets are used in the automotive industry to improve safety, enhance the driving experience, and optimize vehicle performance. IoT chipsets are used in connected car systems to provide real-time data on vehicle performance, traffic, and weather conditions. These above mention factors are propelling the growth of the market.

Key Players Covered:

Analog devises Inc. (U.S.), Cypress Semiconductor Corporation (U.S.), Intel Corporation (U.S.), Invensense Inc. (U.S.), Mediatek Inc. (Taiwan), Microchip Technology Inc. (U.S.), Nordic Semiconductor ASA (Norway), NXP Semiconductors (Netherlands), Qualcomm Technologies Inc. (U.S.), Samsung Electronics Co. Ltd (South Korea), Silicon Laboratories Inc. (U.S.), STMicroelectronics NV (Switzerland), Texas Instruments Incorporated (U.S.).

Segmentation:

Key Industry Developments:

• In November 2022_Sony Semiconductor Isreal launched a new cellular LTE-M/NB-IoT chipset solution. This newly launched solution supports  LPWA communication protocols. This solution is widely used in smart meters, trackers and low-powered devices.


• In June 2021_ Qualcomm Technologies, a global provider of high-end communication technologies, launched next-generation IoT chipsets solutions; this chipset is specially designed for warehouse, logistics and transports and industrial automation.


• In Jan 2023_ MediaTek launched its new IoT chipset, MediaTek Genio 700 IoT device platform. This octa-core chipset is designed for the smart cities, retail and manufacturing industries.