Dublin, Feb. 05, 2020 (GLOBE NEWSWIRE) — The “IoT Chip Market – Growth, Trends, and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com's offering.
The global IoT chip market is expected to register a CAGR of 13.5% during the forecast period 2020-2025.
In the near future, 5G Network, artificial intelligence, machine learning, smart homes, smart cities, as well as an increase in the IoT connected devices in electronics and automotive segment are expected to drive market growth.
- The Internet & Television Association estimated that by 2020, the number of IoT connected devices is expected to reach 50.1 billion from 34.8 billion in 2018.
- The growth of the market can be majorly attributed to the Integration of connectivity in a large number of devices and applications along with the development of various networking protocols that have appreciably advanced the growth of the IoT chip market across various end-user industries.
- A majority of these new IoT inventions will be implemented with a single system on a chip (SoC) to provide high levels of integration and it also allows the devices to operate with high power efficiency and security as it packs processors (MCU), RF transceiver, memory, power management, connectivity, and sensors in a single unit.
- Moreover, Google is taking major steps in hardware and software optimization to bring its machine learning and analytics capabilities to the edge networks and even to the individual IoT devices. This is aimed to deal better with the data generated by increasing IoT devices, the company said at its Cloud Next technology conference.
Key Market Trends
Consumer Electronics Segment is Expected to Expand With a Significant Rate
- Currently, IoT is majorly adopted in home electronics, from entertainment to smart home control. Smart TV sets, washing machines, and home appliances are increasingly adopting IoT approaches and getting …
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