Internet of Things (IoT) Chip Market to Reach $503.1 Million by 2026

The global market for Internet of Things (IoT) Chip estimated at US$380.5 Million, is projected to reach a revised size of US$503.1 Million by 2026, growing at a CAGR of 4.6% over the analysis period.

Processors, one of the segments analyzed in the report, is projected to record a 4.6% CAGR and reach US$198.3 Million by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Connectivity Integrated Circuits segment is readjusted to a revised 3.8% CAGR for the next 7-year period.

The Internet of Things (IoT) Chip market in the U.S. is estimated at US$119.3 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$89.1 Million by the year 2026 trailing a CAGR of 4.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 3.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.