The semiconductor industry remained crippled by the lingering supply chain issues, hampering optimum productivity. Moreover, the Ukraine-Russia war has further strained the accessibility of raw materials. Vinay Gupta, the International Data Corporation’s Asia-Pacific research director, said, “The semiconductor supply is not going to increase immediately.”
However, given its varied usage across industries, the global IoT Chip market is estimated to grow at a CAGR of 15.5% from 2022 to 2028.
