The latest report on IoT Chip Market by Infinium Global Research gives complete coverage of the IoT Chip Market by hardware (processor, sensor, connectivity ic, a memory device, and logic device), end-use application (wearable devices, building automation, industrial, automotive & transportation, and others) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of IoT Chip such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Growing Opportunities for the Integration of IoT for Cross-Sector Collaboration May Boost the Growth of the Industry
IoT platforms usually integrate wireless support, as well as sensor fusion support generally is done by a separate, low-power processor. Nowadays, hardware security support is becoming more vital and integrated, but there are alternatives. For instance, Microchip’s 3-mm by 2-mm AWS-ECC508 chip is preconfigured to deliver mutual authentication with Amazon Web Services IoT (AWS IoT). There are many I2C-based security chips available, but this one is already registered for development work and it can be modified to handle the product production process. The chip is linked to a host processor, which executes software from the AWS Software Development Kit (SDK). IoT chip needs a lot of software to link them to nearby IoT devices or the cloud.
For instance, The SK Telecom Company Limited, South Korea, has introduced a tiny chip that could transform the security of communication scenarios on different portable electronics and IoT devices. This chip is only 5 Millimeter square size and has the capacity of generating mathematically provable random numbers. The random numbers, that are used as an essential Unit of security encryption systems by producing them in a tiny package. The chip has demonstrated in Mobile World Congress in Barcelona and would be gone for a sample production soon with low cost as a few dollars.
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Smart Wireless Sensors are Low at the Cost They Demand is Increasing to Develop IoT Devices
Major manufacturers such as Qualcomm Incorporated, NXP Semiconductors N.V., and other manufacturers are introducing low-cost smart wireless sensors to the market. As these smart wireless sensors are low at the cost they demand is increasing to develop IoT devices. This factor boosts the growth of the global IoT chip market. Growing investment globally due to ongoing digital transformation and emergence of Industry 4.0 boost the adoption of industrial automation.
Due to this factor, the growth of the IoT chip market started booming. On the other hand, the increasing number of incidents of data theft and concern regarding privacy and security of data hinders the growth of the market. Moreover, the government taking initiative and increasing funding to support IoT that creates opportunities to boost the growth of the global IoT chip market. Also, growing opportunities for the integration of IoT for cross-sector collaboration may boost the growth of the market.
Geographically, the IoT chip market segmented into North America, Europe, Asia Pacific, and RoW. North America holds the largest share of the market in the global IoT chip market. The adoption of industrial automation and robotics in various industries is a significant factor for the dominance of the region.
On the other side, the APAC region is expected to grow at the highest CAGR over the forecast period of 2019-2025. The rising government support in the form of funding, investments and desirable policies are propelling factors for the market growth. Asia-Pacific is also ahead when it comes to Smart City rollout, with a staggering US$63.4 billion earmarked for investment in Smart City technology in the region. As the backbone of smart cities, IoT is a vital focus area for development in the region.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the IoT chip.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.