IoT Chipset Market to cross USD 750 Billion by 2032, Says Global Market Insights inc.
IoT Chipset Industry size is expected to register 6.4% CAGR between 2024 and 2032 propelled by increasing demand for connected devices in smart homes.
Selbyville, Delaware, Sept. 10, 2024 (GLOBE NEWSWIRE) — IoT Chipset Market is projected to reach USD 750 billion in revenue by the end of 2032, as per a
Asia Pacific to emerge as a lucrative market
Asia Pacific IoT chipset market size is expected to witness robust growth between 2024 and 2032 due to the rise in smart city initiatives. Governments and organizations are investing in advanced IoT technologies to enhance urban infrastructure and improve city services. Ongoing developments are helping in integrating IoT chipsets into smart grids, transportation systems, and public safety networks for increasing efficiency and connectivity. Additionally, increasing efforts are advancing these chipsets to support more complex and scalable smart city solutions for addressing the growing demands for data processing and communication across the region.
IoT Chipset Market Players
Some of the top firms engaged in the IoT chipset industry include Analog Devices Inc., Cypress Semiconductor Corporation, Intel Corporation, Invensense Inc., Mediatek Inc., Microchip Technology Inc., and Nordic Semiconductor ASA, among others. These market players are engaging in partnerships and collaborations to drives innovations for scaled revenues. For instance, in April 2023, Intel and Arm announced a partnership to develop mobile chipsets for enhancing IoT capabilities. This collaboration helped in creating more efficient and powerful chipsets for enabling advanced IoT applications and improving connectivity across various devices.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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