IoT Chip Market Worth $525.4 Billion by 2025

According to the new market research report IoT Chip Market with COVID-19 Impact Analysis the IoT Chip Market size is estimated to grow from USD 392.0 billion in 2020 to USD 525.4 billion by 2025, at a CAGR of 6.0%.

The growth of application-specific MCUs and flexible SoC-type designs, adoption of IPv6, which provides more IP address space, technologies such as AI fueling IoT adoption, development of internet connectivity, and growth of low-cost smart wireless sensor networks are expected to drive the IoT chip industry.

Surveillance cameras and drones are the major contributors to the IoT chip market with power consumption between 5–10 W. Cameras for behavioral analysis, face recognition, and vehicle recognition have an average power consumption between 5 and 10 W.
NVIDIA's Jetson TX1 draws around 8–10 W under a typical CUDA load, while its latest Jetson TX2 module draws 7.5 W at peak processing efficiency. Power management plays a significant role in the smart speaker system design as the ultimate goal is to provide power efficiently to dissipate less heat, allowing for a smaller and low-cost system.

The market for smart home devices is expected to grow exponentially in the near future, as many big players in the consumer electronics sector, such as LG Electronics (South Korea), Samsung Electronics (South Korea), and Whirlpool Corp. (US), have already launched a series of smart products in the market.