During the pandemic in Europe, growth in the number of IoT connections slowed in particular industries due to both demand-side and supply-side issues. Due to companies going out of business or cutting back on spending, several IoT contracts have been cancelled or postponed.
During the epidemic, demand for several IoT applications decreased. For example, demand for linked automobiles has decreased as a result of lower utilisation and postponed car purchases.
The increased use of IoT devices across multiple end-user verticals, such as healthcare, consumer electronics, industrial, automotive, BFSI, and retail, is driving the adoption of IoT devices even further.
The chip need for creating IoT devices is likely to expand, owing to the rapid expansion in the number of IoT devices. Manufacturers will also prioritise minimising energy use while also miniaturising semiconductors.
The Europe IoT Chip Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
EchoStar Mobile Limited, a subsidiary of EchoStar Corporation, has established an early adopter programme for a LoRa Internet of Things (IoT) service based on satellites throughout Europe. Participants in the initiative will be able to test the satellite-enabled connectivity solution in sectors such as transportation and logistics, agriculture, oil and gas, and utilities.
It’s the first LoRa service with mobile and remote capabilities that works in real-time. The initiative has already reached over 10,000 smartphones, and EchoStar Mobile expects it to grow to millions in Europe.
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