IoT Chips Market to Reach $ 1.7 Trillion, Globally, by 2032 at 14.3% CAGR: Allied Market Research
WILMINGTON, Del., March 8, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "IoT Chips Market by Hardware (Processor, Sensor, Connectivity IC, Memory Device, Logic Device, and Others) and Industry Vertical (Healthcare, Consumer Electronics, Industrial, Automotive, Banking Financial Services & Insurance, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global IOT chips market was valued at $432 billion in 2022, and is projected to reach $1.7 trillion by 2032, growing at a CAGR of 14.3% from 2023 to 2032.
- However, the Sensor segment is projected to manifest the highest CAGR of 16.55% from 2023 to 2032.
- Get Customized Reports with your Requirements:
Request Customization - IoT Chips Market by Hardware, by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2023-2032
The industry segment to maintain its leadership status throughout the forecast period. - However, Asia-Pacific is projected to manifest the highest CAGR of 15.70% from 2023 to 2032.
- In June 2021, Qualcomm launched seven of its new IoT chipsets that were targeted at devices meant for logistics, warehousing, smart cameras, video collaboration, and retail.