IoT Technology Market

IoT Technology Companies - Intel Corporation (US) and Qualcomm (US) are the Key Players

The IoT technology market is projected to grow from USD 945.6 billion in 2024 to USD 1,377.8 billion by 2029, registering a CAGR of 7.8% during the forecast period. The IoT technology market is growing due to emergence of 5G communications technology and Increasing necessity of data centers due to rising adoption of cloud platforms. The data security and privacy concerns, however, is anticipated to limit industry expansion.

Key players operating in the IoT technology market include Intel Corporation (US), Qualcomm (US), Texas Instruments Incorporated (US), Cisco Systems, Inc. (US), Hewlett Packard Enterprise (US), IBM (US), STMicroelectronics (Switzerland), Microsoft, PTC Inc. (US), and Amazon Web Services (US), among others. The introduction of new products and activities like partnerships and acquisitions are significant strategies used by leading companies to improve their product lines, grow their market shares, and strengthen their position in the industry.

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Major IoT Technology include:

  • Intel Corporation (US)
  • Qualcomm (US)
  • Texas Instruments Incorporated (US)
  • Cisco Systems, Inc. (US)
  • Hewlett Packard Enterprise (US)
  • IBM (US)
  • STMicroelectronics (Switzerland)
  • Microsoft, PTC Inc. (US)
  • Amazon Web Services (US)

Intel is one of the leading players engaged in designing and manufacturing advanced integrated digital technology platforms. Besides hardware, the company develops and sells software and offers services, primarily pertaining to security and technology integration. The company has a widespread presence in ~63 countries and consumers in ~120 countries. Intel offers a range of solutions for various end-user industries. The company provides IoT products and solutions through NEX and Mobileye segment. The company designs and manufactures advanced integrated digital technology platforms. It also develops and sells software and services primarily focused on security and technology integration. The security products include data protection and encryption, database security, endpoint protection, network security, security management, server security, security information and event management (SIEM), and web security.

The US state of California is home to Qualcomm Technologies, Inc., a company that was established in 1985. In Delaware, Delaware, the corporation was reincorporated in 1991. It is a major participant in the worldwide semiconductor market and is in charge of creating and promoting services and goods for wireless telecommunication. Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI) are the company's three reportable business segments. The company mainly uses its QCT semiconductor and QTL licensing businesses to conduct business. In order to be used in mobile devices, wireless networks, broadband gateway equipment, consumer electronics devices, other IoT devices, and automotive systems for telematics and infotainment, QCT develops and sells integrated circuits and system software based on 3G/4G/5G and other technologies. The QSI reportable segment makes strategic investments. The company has non-reportable segments, which include Qualcomm Government Technologies or QGOV, cloud AI inference processing initiative, and other technology and service initiatives. The company provides IoT solutions and services for customers from industrial and commercial, smart cities, smart homes, audio, and connected healthcare fields.

STMicroelectronics N.V. or STMicroelectronics is engaged in the design, development, manufacture, and marketing of various semiconductor integrated circuits and discrete devices. The company delivers its products primarily to areas such as automotive systems, industrial systems, and consumer connected devices. The company operates through its 4 major product segments—Automotive and Discrete Group (ADG), Analog, MEMS and Sensors Group (AMS), Microcontrollers and Digital ICs Group (MDG), and Others. The Automotive and Discrete Group (ADG) deals in dedicated automotive ICs, and discrete and power transistor products. The Analog, MEMS and Sensors Group (AMS) offers analog, smart power, MEMS sensors and actuators, low power RF, and optical sensing solutions. The Microcontrollers and Digital ICs Group (MDG) deals in memories (RF and EEPROM), microcontrollers (general purpose and secure), and RF communications. The company caters to the IoT technology market by providing microcontrollers and microprocessors, wireless connectivity solutions, MEMS and sensors, automotive MCUs, secure MCUs, etc. for a variety of applications.

Related Reports:

IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography - Global Forecast to 2029

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IoT Technology Market Size,  Share & Growth Report
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SE 2509
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