HOME Research Insight Intel Corporation (U.S.) and Qualcomm Incorporated (U.S.) are another major player in the IoT Chip Market

Intel Corporation (U.S.) and Qualcomm Incorporated (U.S.) are another major player in the IoT Chip Market

Internet of Things (IoT) is an ecosystem of connected physical devices embedded with hardware and software. These devices are accessible through Internet and can exchange data with the help of embedded hardware components and software. The IoT chip market was valued at USD 5.75 Billion in 2015 and is expected to reach USD 14.81 Billion by 2022, growing at a CAGR of 13.2% during the forecast period. The major industry giants are making investments in IoT to expand in this industry space. These investments in the IoT industry space are used to introduce new IoT-based products. These products would create demand for more IoT chips, which will be used in developing new IoT-enabled products; hence, it will eventually drive the growth of the IoT chip market. Additionally, the adoption of IPv6 has boosted the IoT as it provides better security solution than IPv4, and its adoption leads to the availability of more IP address space for the IoT industry.

The IoT chip market is highly competitive with a large number of global and local market players. New product launches and developments have been the most prominent strategies followed by the key industry players in recent years. Moreover, partnerships, collaborations, and joint ventures are other major growth strategies followed by the companies in the IoT Chip market. The key players following these strategies in the IoT Chip market are Intel Corporation (U.S.), Qualcomm Incorporated (U.S.), STMicroelectronics N.V. (Switzerland), Texas Instruments Incorporated (U.S.), and MediaTek Inc. (Taiwan).

Intel Corporation (U.S.) was an important player in the IoT chip market in 2016 primarily on the basis of its R&D investments, product portfolio, and geographic reach in the IoT market space. The company has continuously increased its R&D spending in the recent past, which has resulted in the development of unique and state-of-the-art IoT products. Moreover, the company believes that the automotive market is a critical space, and it plans to invest about USD 250.0 million for autonomous driving. These kinds of investments would drive technological development in terms of connectivity, communications, and security and further fuel the growth of the IoT chip market.

Qualcomm Incorporated (U.S.) is another major player in the IoT chip market and is continually involved in the development and launch of IoT systems. The company plans to acquire NXP Semiconductors N.V. This acquisition would give Qualcomm Incorporated (U.S.) additional expertise in security, identity, and automotive processor components, which will complement its mobile, IoT, and wireless radio businesses. The company believes that IoT is a fast-growing market and is focused on the development of products for this industry space. In September 2016, the company announced the launch of Snapdragon 600E and 410E processors by its subsidiary Qualcomm Technologies Inc. (U.S.). The processors can be used for numerous embedded applications such as digital signage, set-top boxes, medical imaging, point-of-sale systems, industrial robotics, and IoT-related applications.

Related Reports:

IoT Chip Market by Hardware (Processor, Sensor, Connectivity IC, Memory Device, and Logic Device), End-Use Application (Wearable Devices, Building Automation, Industrial, Automotive & Transportation, and Others), and Geography - Global Forecast to 2022

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