Research by the Global Market Studies has reported a CAGR of 15% for the Internet of Things (IoT) Chip Market, growing to USD 127490 million by 2028. The COVID-19 pandemic made connected smart devices unavoidable. With a surge in digitalisation and with highly populated developing economies such as India and China moving towards modernisation, the adoption of IoT elements has increased drastically in recent years.
The Internet of Things (IoT) market encompasses the network of physical devices, vehicles, appliances, and other objects embedded with sensors, software, and connectivity that enable them to connect and exchange data with other devices and systems over the internet. The IoT market includes various industries such as healthcare, transportation, manufacturing, energy, and consumer electronics.
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Other emerging players in the IoT chip market include Arm Holdings, Nordic Semiconductor, Renesas Electronics Corporation, and Silicon Labs.
– The IoT Chip Market is expected to reach a value of approximately 127490 million by 2028
2) What is the estimated CAGR of the Global IoT Chip Market over the 2023 to 2028 forecast period?
– The IoT Chip Market is expected to grow at a CAGR of approximately 15% from 2023 to 2028.
3) Who are the key players in the IoT Chip Market?
– Intel Corporation, Qualcomm Inc., Texas Instruments Inc., NXP Semiconductors N.V., MediaTek Inc., STMicroelectronics N.V., Infineon Technologies AG, Cypress Semiconductor Corporation, Microchip Technology Inc., Analog Devices Inc.
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