| Study Period | 2019 - 2032 |
| 2024 Market Size | USD 476.4 Billion |
| 2025 Market Size | USD 494.4 Billion |
| 2032 Forecast | USD 705.6 Billion |
| Growth Rate (CAGR) | 5.20% |
| Largest Region | North America |
| Fastest Growing Region | APAC |
| Nature of the Market | Fragmented |
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The IoT chip market size stood at USD 476.4 billion in 2024, and it is expected to advance at a compound annual growth rate of 5.2% during 2025–2032, to reach USD 705.6 billion by 2032.
The growth can be ascribed to the expansion in internet connectivity in advancing economies, which is driving the adoption of connected devices and the development of networking protocols. Moreover, the increasing number of artificial-intelligence-based devices is propelling the market.
Consumer electronics sales are growing at a good pace due to the rising adoption of smart appliances for residential applications, such as door locks, thermostats, and home monitors. Moreover, smartwatches are widely used in the healthcare and fitness industry. Moreover, IoT chips are used for tracking the real-time location of medical equipment, including wheelchairs, oxygen pumps, and defibrillators.
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