Processors for Internet of Things (IoT) and Wearables Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global processors for internet of things (IoT) and wearables market is anticipated to grow at a CAGR of nearly 25.0% during the forecast period (2022-2028).The major factor expected to drive the market grow this the rising use of IoT devices and the increase in demand for the connected ecosystem. In addition, the development of LTE, 5G, and 64-bit application processors along with the emergence of mobile payment technology and technological innovations related to wearable devices are some causes that propel the growth of the market during the forecast period. Moreover, the use of IoT and wearables in many products and processors such as smart utility meters, networked refrigerators, industrial control, home automation, connected cars, and smart watches is accelerating the growth of the market. In addition, its rising application in smart eyewear, smart watches, and smart headsets, which are embedded with chips and capabilities of wearables such as low power consumption, smart sensing, and operating system flexibility are further propelling the market growth during the forecast period.

Some major players in the market includeIntel Corp., Qualcomm Inc., and Samsung Electronics Co., Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in 2020, Intel Corp. introduced IoT enhanced processors, the 11th Gen Intel Core processors at the intel industrial Summit. Further, the company added that the processor is enhanced specifically for essential IoT applications that require high-speed processing, computer vision, and low latency deterministic computing. Furthermore, in 2019, SAP SE announced that Amazon Web Services (AWS) and the SAP Leonardo Internet of Things (IoT) entered into a collaboration regarding the general availability of cloud-to-cloud interoperability.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

• Competitive Landscape-Intel Corp., Qualcomm Inc., and Samsung Electronics Co., Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Processors for Internet of Things (IoT) and Wearables Market Report by Segment

ByType

• 8 Bits
• 16 Bits
• 32 Bits

By Application

• Energy and Utility
• Retail
• Manufacturing
• Automotive