The Asia Pacific IoT Chips Market would witness market growth of 11.6% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific IoT Chips Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $88,470.5 million by 2031. The Japan market is registering a CAGR of 10.9% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 12.3% during (2024 - 2031).
Edge computing is increasingly emphasized in IoT applications, where data processing and analysis occur closer to the data source, like IoT devices or sensors. Edge computing reduces latency, bandwidth usage, and reliance on cloud services, making IoT systems more responsive, efficient, and scalable. These chips with built-in processing capabilities are essential for enabling edge computing functionalities. These chips increasingly incorporate AI (Artificial Intelligence) and machine learning capabilities to enable advanced analytics, predictive maintenance, anomaly detection, and decision-making at the edge.
Protecting privacy and security within IoT ecosystems becomes increasingly critical as interconnected devices grow. These chips are equipped with hardware-based security features, such as cryptographic accelerators, secure enclaves, and hardware-based root of trust, to protect data integrity, authenticate devices, and prevent unauthorized access or tampering. Secure-by-design IoT chips are crucial for building trust and mitigating cybersecurity risks in IoT deployments.
China’s rapid urbanization has led to the development of smart cities to improve urban living standards, enhance sustainability, and optimize resource management. China’s commitment to environmental sustainability and energy efficiency drives the demand for these chips that enable smart and green solutions. As urbanization progresses and consumer preferences shift towards smart and connected lifestyles, the demand for these chips in China is expected to grow. As per the State Council of China, urbanization has accelerated rapidly throughout China in recent years, with the National Bureau of Statistics estimating that the rate increased to 64.72 percent last year. As of the end of 2022, 914 million people were living in cities, an increase of 12.05 million from 2021. Therefore, due to the above-mentioned factors, the market will grow significantly in this region.
Free Valuable Insights: The Global IoT Chips Market is Predict to reach USD 1088.6 billion by 2031, at a CAGR of 11.1%
Based on Hardware, the market is segmented into Processor, Sensor, Connectivity IC, Memory Device, Logic Device and Others. Based on Vertical, the market is segmented into Industrial, Consumer Electronics, Automotive, Healthcare, Retail, BFSI and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Hardware
By Vertical
By Country
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