The global IoT Processor market size is predicted to exceed a valuation of USD 48,100 million in 2023. The technology is anticipated to create revenue streams, increase business efficiencies, enable new business models, and improve how existing services are delivered across various industries to drive the IoT processor market.
The overall sales of IoT processors are projected to increase at a robust CAGR of 7.5% between 2023 and 2033, totaling around USD 99,441.1 million by the end of 2033.
| Attribute | Details |
|---|---|
| IoT Processor Market Size (2023) | USD 48,100 million |
| IoT Processor Market Revenue Forecast (2033) | USD 99,441.1 million |
| IoT Processor Market Growth Rate (2023 to 2033) | 7.5% CAGR |
| North America Market Share | 40.1% |
The Internet of Things (IoT) is powering every aspect of human life in this digital world. Every day, massive amounts of data are obtained by these connected devices. For these connected devices to operate effectively, they must transfer data and information in real-time to overcome human issues.
IoT also refers to more data, more sensors, faster responses, end-to-end communication, and smarter user interfaces. These characteristics, such as a high-performance sensor, more silicon area, more power, and more heat, come at a cost. While general-purpose processors are ideal for running applications on embedded systems, they are not proficient in dedicated tasks like those required for IoT applications. A low-power processor that can host various applications from multiple connected devices in real-time is known as an IoT processor.
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As more devices become associated daily, carrier suppliers are finding it challenging to collect, process, and dispatch data from one device to another due to general-purpose sensor conformance limitations. This leads to a distinct necessity for IoT processors. For example, IoT processors in wearable devices control sense, process, store, and interpret data while ingesting very little power.
This would not have been possible if wearable device distributors such as Apple Inc. and Xiaomi used general-purpose processors in their equipment. Furthermore, technological developments in cognitive and affective computing are accelerating the expansion of the IoT Processor market.
Despite the substantial opportunities offered by the IoT market for processor industry players, some processor manufacturers have been hesitant to make significant investments in this sector.
The primary issue is that IoT products tend to appeal to a niche market and generate remarkably low sales volume. However, more semiconductor companies will make investments in the IoT processor market in the coming years.
Principal Consultant
North America is anticipated to be the world's leading market for IoT processors. The vast bulk of IoT processor vendors, such as Intel and Texas Instruments, are headquartered in America and investing in the local market's IoT ecosystem. For example, BMW Group, Intel, and Mobileye collaborated on autonomous driving. North America is predicted to occupy a 40.1% market share of the global IoT processor market in 2023.
Furthermore, due to the proliferation of cloud platforms and rising R&D investments, the Internet of Things processors market is witnessing widespread adoption in the region. According to GSMA intelligence's October 2021 report in North America, the overall number of IoT connections is expected to reach 5.1 billion by 2025. In 2020, the total number of connected devices in the province was 2.9 billion.
Nations such as China and Taiwan have a massive pool of semiconductor manufacturers. With this, the Asia-Pacific region is predicted to have a moderate growth rate for the IoT Processor market. Additionally, due to the increasing projects for smart cities and rising approaches, such as Smart Wellington (New Zealand), Intelligent Disease Prediction Project (China), and cloud spending in the region, Asia Pacific is expected to exhibit the highest CAGR during the forecast years.
Europe is expected to surpass North America in terms of market share. The region is becoming inherently tied to large databases because healthcare is expected to compensate for a sizable market share in Europe. Diagnostic analytics, descriptive analytics, prescriptive modeling, and actionable insights can all be provided by IoT technology in combination with big data analytics.
In Europe, network adapters combined with big data are expected to gain traction. Furthermore, due to the region's growing demand for IIoT technology, Germany, the United Kingdom, France, Italy, Spain, and the Netherlands are driving the region's adoption of this market. Similarly, sophisticated technology is being adopted at a rapid pace in Eastern Europe and Nordic countries. Europe is poised to account for a market share of 23.6% of the global IoT processor market in 2023.
The 8-bit IoT Processor has a lot so much architectural variation. It is a widely used, well-understood 8-bit architecture that remains prevalent among embedded developers. As a result, the 8-bit IoT Processor segment is expected to grow significantly.
The 32-bit IoT processors are anticipated to gain promising growth during the forecast period. 32-bit processors mix performance and power economy, making them suitable for various IoT applications. Compared to lower-bit processors, these processors are able to handle more complicated jobs, multitask, and execute more sophisticated software. Additionally, they are capable of handling bigger data amounts, communication protocols, and security features effectively.
With connectivity and smart devices becoming mainstream in automobiles, automakers are upgrading their offerings with a suite of technologies such as the Internet of Things (IoT). According to BI Intelligence, connected cars likely developed USD 8.1 trillion between 2015 and 2020. According to these figures, IoT and related digitalization advancements will induce a fundamental transformation in the world of mobility. As a result, the automotive segment is expected to expand faster.
Vehicles are becoming sophisticated platforms that are connected through the incorporation of IoT processors into automotive applications. The demand for IoT processors in the automotive industry is continuing to rise as customers want more intelligent, safe, and convenient driving experiences.
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Key Players in the Start-Up Ecosystem to Open Frontiers for Future Growth
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,
Leading Players and Their Contributions to the IoT Processor Market
Some of the leading IoT processor manufacturers include Intel Corporation, QUALCOMM, Samsung, Lenovo, and ARM. These key IoT Processor providers are adopting various strategies, such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc., to increase their sales and gain a competitive edge in the global IoT Processor market. For instance,
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 48,100 million |
| Market Forecast Value in 2033 | USD 99,441.1 million |
| Global Growth Rate | 7.5% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, France, Italy, Spain, United Kingdom, China, Japan, South Korea, India, Thailand, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Market Segments Covered | Type, Application, Region |
| Key Companies Profiled | Texas Instruments; Intel; Qualcomm; ARM; Atmel; Freescale; Amulet Technologies; Broadcom Inc.; 4D Systems; Renesas Electronics |
| Pricing | Available upon Request |
The market is valued at USD 48.1 billion in 2023.
Texas Instruments, Intel, and Qualcomm are the top market players.
The market is expected to reach USD 99.4 billion by 2033.
Integration of Artificial Intelligence is likely to drive the market prospects.
North America is likely to generate a share of 40.1% in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. 8 bit 5.2. 16 bit 5.3. 32 bit 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Automotive 6.2. Manufacturing 6.3. Energy and Utility 6.4. Retail 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Texas Instruments 17.2. Intel 17.3. Qualcomm 17.4. ARM 17.5. Atmel 17.6. Freescale 17.7. Amulet Technologies 17.8. Broadcom Inc. 17.9. 4D Systems 17.10. Renesas Electronics 18. Assumptions & Acronyms Used 19. Research Methodology
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IoT Processor Market
