IoT Chips Market Size, Share, By Product Type (Microcontrollers, Application Processors, Connectivity ICs, Memory Devices, Sensors, Power Management ICs, RFID), By Application (Wearables, Smart Homes, Smart Cities, Healthcare, Industrial IoT, Automotive, Agriculture, Retail), By End-Use Industry (Consumer Electronics, Automotive, Healthcare, Manufacturing, Retail, Agriculture, Energy & Utilities, Transportation & Logistics), and By Region - Trends, Analysis and Forecast till 2034

IoT chips Market Size was valued at USD 477.11 Billion in 2024 and is expected to reach USD 817.31 Billion by 2034, growing at a CAGR of 6.1%

The IoT became a revolutionary technological ecology wherein ordinary objects were linked with the Internet to enable accessible communication and data exchange. With a semiconductor component, the IoT chip became unique and the centerpiece or the brain of IoT devices. These chips are designed to handle the peculiar demands imposed by IoT applications, including low power consumption, small form factor, and robust connectivity. Hence, the IoT chips market is dynamic and fast-growing as it plays a vital role in enabling the Internet of Things. The demand for specialized chips will further intensify as the number and complexity of IoT devices continue to rise. Chip manufacturers are significantly investing in research and development to achieve the dynamics of change in the market; other challenges include power consumption and security. The market for IoT chips will presumably see tremendous growth in the coming years due to its driving innovation and transformation across diverse industries.