IoT includes a wide range of end products such as smart utility meters, networked refrigerators, industrial control, home automation, connected cars, and smart watches. The processors made for the wearables have the capabilities such as low power consumption, smart sensing, and operating system flexibility. The wearables include smart eyewear, smart headsets, and smart watches, which are embedded with chips. These products have a smarter user interface and have ability to run number of applications from multiple connected devices in real time.
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Rise in use of the IoT devices and increase in demand for connected ecosystem propel the growth for market. In addition, emergence of mobile payment technology and technological innovations related to wearable devices fuel the market growth. However, increase in privacy and data security threats restrain market growth. In addition, high power consumption by connected devices hampers the market growth. Development of LTE and 64-bit application processors is expected to provide potential growth opportunities for the market.
Key players operating in this market are Intel Corporation, Marvell, NXP Semiconductors, Texas Instruments Incorporated, MediaTek Inc., Silicon Laboratories, Toshiba, America Information Systems, Inc., Realtek Semiconductor Corp., SAMSUNG, and Atmel Corporation.
The global processors for IoT and wearables market is segmented on the basis of type, application, and region. Based on type, the market is bifurcated into 8 bit, 16 bit, and 32 bit. The application segment includes energy & utility, retail, manufacturing, and automotive. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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