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IoT Chipset Market Size & Share, By Hardware (Processors, Connectivity ICs, Sensors, Memory Devices, Logic Devices, Others), Power Consumption (Less than 1 W, 1 - 3 W, 3 - 5 W, 5 - 10 W, more than 10 W), End-use Industry, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Report ID: FBI 2774


Published Date: May-2024


Format : PDF, Excel

Market Outlook:

IoT Chipset Market size exceeded USD 463.5 Billion in 2023 and is anticipated to cross USD 787.5 Billion by end of the year 2032, witnessing more than 6.7% CAGR between 2024 and 2032.

Base Year Value (2023)

USD 463.5 Billion

19-23 x.x %
24-32 x.x %

CAGR (2024-2032)


19-23 x.x %
24-32 x.x %

Forecast Year Value (2032)

USD 787.5 Billion

19-23 x.x %
24-32 x.x %
IoT Chipset Market

Historical Data Period


IoT Chipset Market

Largest Region

North America

IoT Chipset Market

Forecast Period


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Market Dynamics:

Growth Drivers & Opportunity:

1. Increasing demand for connected devices: The growing adoption of connected devices such as smartphones, smart home appliances, wearables, and industrial IoT devices is driving the demand for IoT chipsets. These chipsets enable these devices to connect to the internet and communicate with each other, driving the growth of the IoT chipset market.

2. Advancements in wireless communication technologies: The development of new wireless communication technologies such as 5G and Wi-Fi 6 is creating opportunities for IoT chipset manufacturers. These advanced technologies enable faster and more reliable connectivity, driving the demand for high-performance IoT chipsets.

3. Rising investment in IoT infrastructure: Governments and enterprises are investing heavily in IoT infrastructure to improve efficiency, productivity, and safety. This investment is driving the demand for IoT chipsets that can support the connectivity and processing requirements of IoT devices.

4. Growing adoption of edge computing: Edge computing, which involves processing data closer to the source of generation, is gaining traction in IoT applications. This trend is driving the demand for IoT chipsets with enhanced processing capabilities to support edge computing deployments.

Report Scope

Report CoverageDetails
Segments CoveredHardware, Power Consumption, End-Use Industry
Regions Covered• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledAnalog Devices, Cypress Semiconductor, Intel, Invensense, Mediatek, Microchip Technology, Nordic Semiconductor ASA, NXP Semiconductors NV, Qualcomm Technologies, Samsung Electronics Co., Silicon Laboratories, STMicroelectronics NV, Texas Instruments Incorporated

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Industry Restraints:

1. Security concerns: Security remains a major concern in the IoT ecosystem, as connected devices are vulnerable to cyber threats. The lack of robust security measures in IoT chipsets can hinder the adoption of IoT devices and infrastructure.

2. Complexity of interoperability: The interoperability of IoT devices from different manufacturers and compatibility with different communication protocols can be a challenge. This complexity hampers the seamless integration of IoT devices and can be a restraint for the IoT chipset market.

3. Limited power and energy efficiency: IoT devices often have limited power sources, such as batteries, and need to operate efficiently to prolong battery life. IoT chipsets with high power consumption can be a restraint for the market, as energy efficiency is a key requirement for IoT devices.

Regional Forecast:

IoT Chipset Market

Largest Region

North America

31% Market Share in 2023

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North America (U.S., Canada):

The IoT chipset market in North America is expected to witness significant growth, driven by the presence of major tech companies and increasing investments in IoT technology. The U.S. is at the forefront of IoT adoption, with a strong focus on smart home and automotive applications. Canada is also seeing growth in the IoT chipset market, particularly in industries such as healthcare and agriculture.

Asia Pacific (China, Japan, South Korea):

Asia Pacific is a key region for the IoT chipset market, with China leading the way in terms of IoT infrastructure and deployment. The country's focus on smart cities and industrial IoT is driving substantial demand for IoT chipsets. Japan is another major market for IoT chipsets, with a focus on connected healthcare and smart manufacturing. South Korea is also witnessing significant growth in IoT chipset adoption, especially in the consumer electronics and automotive sectors.

Europe (United Kingdom, Germany, France):

In Europe, the IoT chipset market is experiencing steady growth, with the United Kingdom, Germany, and France being the key markets. The UK is seeing increasing adoption of IoT chipsets in smart building and energy management solutions. Germany is a major hub for industrial IoT, driving demand for IoT chipsets in manufacturing and logistics applications. France is also making strides in IoT adoption, particularly in the areas of smart agriculture and environmental monitoring. Overall, Europe is expected to be a significant market for IoT chipsets in the coming years.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
IoT Chipset Market
IoT Chipset Market

Segmentation Analysis:


In terms of segmentation, the global iot chipset market is analyzed on the basis of Hardware, Power Consumption, End-Use Industry.

Segment Analysis of IoT Chipset Market


The hardware segment of the IoT chipset market refers to the physical components and devices that are used to enable IoT functionality. This includes sensors, connectivity modules, and microcontrollers that form the backbone of IoT systems. The demand for hardware in the IoT chipset market is driven by the increasing adoption of IoT technology across various industries such as healthcare, manufacturing, and transportation. As IoT applications become more complex and diverse, there is a growing need for advanced and efficient hardware solutions that can support a wide range of use cases.

Power Consumption:

Power consumption is a critical factor in the IoT chipset market, as many IoT devices are designed to operate on battery power or in remote locations with limited access to electricity. The power consumption segment encompasses the efficiency and energy usage of IoT chipsets, with a focus on minimizing power usage while maintaining optimal performance. This is particularly important in applications such as smart home devices, where low power consumption can extend the battery life of connected devices, and in industrial IoT applications, where reducing power usage can lead to cost savings and increased reliability.

End-Use Industry:

The end-use industry segment of the IoT chipset market represents the diverse range of industries and applications that utilize IoT technology. This includes sectors such as healthcare, agriculture, automotive, and smart cities, among others. Each industry has unique requirements and challenges when it comes to implementing IoT solutions, which in turn drive demand for specific types of IoT chipsets. For example, healthcare applications may require high-precision sensors and low-power connectivity solutions, while smart city applications may prioritize long-range connectivity and robust security features. Understanding the specific needs and trends within each end-use industry is essential for companies operating in the IoT chipset market to develop targeted and effective solutions.

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Competitive Landscape:

The competitive landscape in the IoT Chipset Market is characterized by intense rivalry among key industry players striving to gain a competitive edge through technological advancements, strategic partnerships, and product innovations. The market is witnessing the presence of several prominent companies that are continually investing in research and development activities to offer advanced IoT chipset solutions catering to a wide range of applications. The increasing adoption of IoT devices across various industries has further intensified the competition among market players, driving them to focus on enhancing their product offerings and expanding their geographical presence.

Top Market Players:

1. Qualcomm Technologies, Inc.

2. Intel Corporation

3. Texas Instruments Incorporated

4. NVIDIA Corporation

5. MediaTek Inc.

6. NXP Semiconductors

7. Cypress Semiconductor Corporation

8. STMicroelectronics

9. Microchip Technology Inc.

10. Renesas Electronics Corporation

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IoT Chipset Market Size & Share, By Hardware (Proc...

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