The Latin America, Middle East and Africa IoT Chips Market would witness market growth of 13.5% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA IoT Chips Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $27,346.1 million by 2031. The Argentina market is showcasing a CAGR of 14.1% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 13.1% during (2024 - 2031).
Power efficiency remains critical in IoT chip design, especially for battery-operated devices and sensors deployed in remote or resource-constrained environments. These chips are engineered with low-power consumption features, such as energy-efficient processors, power management units, and sleep modes, to prolong battery life and enable long-term operation without frequent recharging or replacement. Low-power chips enable energy-efficient IoT deployments and support sustainable, long-lasting IoT applications.
IoT chip manufacturers offer customizable solutions tailored to specific IoT applications and use cases. Customizable chips enable system integrators and device manufacturers to optimize performance, functionality, and form factors according to their requirements, accelerating time-to-market and reducing development costs. Integrated chips with multiple functionalities, such as sensor interfaces, wireless connectivity, and onboard processing, simplify IoT device design and deployment, making it easier for businesses to adopt IoT technologies.
IoT chips equipped with connectivity protocols and interoperability standards can facilitate the integration of healthcare devices with existing EHR systems used by healthcare providers in Saudi Arabia. Saudi Arabia's government is focusing more on wellness and preventative healthcare programs to encourage healthy lives and lower the prevalence of chronic illnesses. According to the ITA, in 2023, it spent $50.4 billion on healthcare and social development, 16.96 percent of its 2023 budget, and education's second largest line item. Thus, due to these aspects, the market will expand across the LAMEA region in upcoming years.
Free Valuable Insights: The Worldwide IoT Chips Market is Projected 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Hardware
By Vertical
By Country
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