United States IoT Chips Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 7.7% from 2023 to 2033
• The U.S. IoT Chips Market Size is Expected to Hold a Significant Share by 2033

The US IoT Chips Market is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 7.7% from 2023 to 2033.  

Market Overview

An IoT chip is a customized semiconductor inserted in machines, objects, and things. Embedded technologies like processors, sensors, connectivity ICs, memory devices, and logic devices are utilized in IoT chips to enable connectivity, data processing, and communication in IoT sensors and smart gateways. IoT chips play a vital role in gathering, sending, and analyzing data in IoT systems. Generative AI has the potential to greatly influence the IoT chipset market by streamlining and enhancing the development of IoT chipsets, resulting in better performance, energy efficiency, and faster time-to-market. AI algorithms have the capability to navigate through extensive design possibilities, recognizing the best configurations more swiftly compared to conventional techniques. Generative AI allows for the development of specialized chipsets designed for specific uses or sectors. This enables manufacturers to create custom IoT gadgets that fulfill specific needs, improving performance and effectiveness. The rising demand for connected devices, fast urbanization, and the necessity for efficient and affordable solutions are pushing the market forward. The increase in smart homes, cities, and industries has caused a rise in the need for IoT devices with advanced processing power, memory, and connectivity. Furthermore, the growing demand for instantaneous data analysis and processing is driving the acceptance of IoT chips equipped with sophisticated features like artificial intelligence (AI), machine learning (ML), and edge computing.

Report Coverage

This research report categorizes the market for the US IoT chips market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States IoT chips market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the U.S. IoT chips market.

Driving Factors

The increase in the need for connected devices is a key factor propelling the growth of the IoT chip market. The rise of IoT use in various sectors like automotive, healthcare, agriculture, and smart homes highlights the growing demand for devices capable of effortlessly gathering, transmitting, and analyzing data. Devices like smartphones, wearables, sensors, and actuators allow users and businesses to input real-time data, automate tasks, and boost productivity. The increase in popularity of connected devices is fueled by the rise in the use of IoT solutions focused on enhancing resource efficiency, operational effectiveness, and customer satisfaction.

Restraining Factors

Ensuring the security and privacy of data poses significant obstacles to the market's expansion. With the growing popularity of IoT in consumer applications, there is a steady increase in the number of connected devices, leading to the generation of a large volume of data. Cybercriminals have the ability to penetrate systems and utilize the information for cyber-attacks.

Market Segmentation

The US IoT chips market share is classified into product and material type.

• The processors segment is expected to hold a significant market share through the forecast period.

The United States IoT chips market is segmented, by product into processors, connectivity integrated circuits, sensors, memory devices, and logic devices. Among these, the processors segment is expected to hold a significant market share through the forecast period. The increase in IoT devices in different sectors like healthcare, automotive, smart homes, and industrial automation is fueling the need for more sophisticated and effective processors. Moreover, advanced security capabilities in contemporary processors play a vital role in IoT scenarios, where sensitive information is frequently handled and a strong defense against online dangers is necessary. As a result, this factor speeds up the market's growth.

• The automotive segment is expected to dominate the US IoT chips market during the projected period.

Based on the end-user, the United States IoT chips market is divided into healthcare, consumer electronics, automotive, BFSI, retail, building automation, and others. Among these, the automotive segment is expected to dominate the US IoT chips market during the projected period. The category consists of items like smart speakers, thermostats, lighting systems, security cameras, and home appliances. These products are now using IoT chipsets more often to allow for remote control, automation, and compatibility with digital assistants like Amazon, Alexa, and Google Assistant. Furthermore, IoT chipsets are integrated into numerous home automation systems, enabling users to manage and supervise various aspects of their home such as climate control, lighting, and security systems via smartphones or automated schedules.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States IoT chips market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Qualcomm Technologies
• Samsung Electronics Co., Ltd.
• Intel Corporation
• MediaTek Inc.
• Texas Instruments
• STMicroelectronics
• NXP Semiconductors
• Broadcom
• Huawei
• Microchip Technology Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2024, Honeywell and NXP Semiconductors teamed up to support improved building energy management. The goal of the partnership is to use AI/machine learning and data analytics to enhance building autonomy and promote energy efficiency by directing service specialists.

Market Segment

This study forecasts revenue at U.S., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United States IoT Chips Market based on the below-mentioned segments:

United States IoT Chips Market, By Product

• Processors
• Connectivity Integrated Circuits
• Sensors
• Memory Devices
• Logic Devices

United States IoT Chips Market, By End-User

• Healthcare
• Consumer Electronics
• Automotive
• BFSI
• Retail
• Building Automation
• Others