Frequently asked questions
IPC SoC chip market also suffered from the COVID-19 pandemic, which resulted in a decline in revenue generated in 2020. It created a chain reaction in the corporate world as governments responded by either imposing temporary quarantines or indefinite lockdowns, as in the United States and India. The result has been a shortage of raw materials used to manufacture these chips. Manufacturing operations have slowed or shut down at least temporarily.
The Asia Pacific accounted for the highest share in the global IPC SoC chip market. The market has seen growth in digitization, IoT penetration, advanced analytics and server performance, and running investments in advanced workstations and servers based on 5G technology.
Increasing adoption of the Internet of Things (IoT) majorly drives the world IPC SoC chip market. Moreover, increasing Wi-Fi penetration, a rise in smart wearables, technological advancements in wireless network technologies, and the adoption of cloud services have contributed to this trend.
H.265 segment had a major share in 2021 with around xx% of the market revenue share. Besides, it is also projected to witness the fastest growth. It is growing due to gaining attention from streaming services like Netflix or YouTube. Further, this segment utilizes the technology behind its precedent and significantly improves coding efficiency, which is expected to boost the demand for H.265 segment in the market.
The IP camera segment had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period. This is because consumers are increasingly using smartphones and taking advantage of attractive installation plans for security solutions.