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Espressif Leads the IoT Chip Market with Over 1 Billion Shipments Worldwide

Shanghai, China
Sep 22, 2023

Espressif’s cutting-edge technologies earn a leading market position, as its global shipment of wireless connectivity chips surpasses the one billion milestone since the launch of ESP8266.

Espressif Systems (688018.SH) is pleased to announce that its cumulative chip shipments have exceeded one billion across the world, since the launch of ESP8266. This achievement underscores Espressif's position as a leading provider of AIoT hardware, software and solutions. With its cutting-edge technology and unwavering commitment to top-notch product performance, Espressif has earned the trust of millions of users worldwide, which has consequently solidified its top market position in the field of IoT wireless connectivity chips.

Teo Swee Ann, the Founder and CEO of Espressif Systems, shared his thoughts about this at Espressif's recent DevCon23: "This is a very important milestone for any semiconductor company. Espressif Systems’ customer performance is outstanding. In fact, we sold almost 200 million chips in the past year alone, and we expect to achieve the next billion sales in three years’ time approximately. This highlights the effectiveness of our developer-focused approach, which goes hand-in-hand with the easy access and wide-ranging support we provide to our users."

In 2014, Espressif launched ESP8266, the industry’s first highly integrated Wi-Fi chip. This groundbreaking product significantly minimized the size of printed circuit boards (PCBs), establishing Espressif as a pioneering company in the field of the CMOS technology for successfully integrating components, such as antenna switches, RF baluns, power amplifiers, low-noise amplifiers, filters, and power management modules in Wi-Fi applications. In 2016, the revolutionary Wi-Fi + Bluetooth chip ESP32 took the world by storm. With its high level of integration, cost-effectiveness, excellent performance and low power consumption, ESP32 quickly became the IoT chip of choice for a vast global community of customers and developers. The extensive adoption of ESP32 spans a wide variety of IoT projects across the world.

Throughout the years, Espressif has consistently maintained a leading market position in the field of IoT Wi-Fi MCU communication chips. According to the annual "Wireless Connectivity Market Analysis" report published by TSR (Techno Systems Research), a marketing research company, Espressif's Wi-Fi MCUs have secured the largest global market share for the past six consecutive years.

Espressif has never stopped innovating. Our product range has evolved from Wi-Fi MCUs to Wireless SoCs, and we are constantly dedicated to diversifying our product portfolio. This ongoing expansion underscores our commitment to IoT innovation and leadership in the ever-evolving tech landscape. A few examples follow below:

  • ESP32-S2 is a secure Wi-Fi SoC with numerous IO capabilities. ESP32-S3 is a powerful AI SoC with additional support for vector instruction, which provides acceleration for neural network computing and signal processing workloads. 
  • ESP32-C2 and ESP32-C3 are cost-effective SoCs for simple IoT applications. ESP32-C6 supports Wi-Fi 6 and has enhanced connectivity. ESP32-C5 is Espressif’s first 2.4&5GHz dual-band Wi-Fi 6 SoC.
  • ESP32-H2 extends Espressif’s SoC portfolio far beyond Wi-Fi and Bluetooth-enabled products by adding IEEE 802.15.4 (Thread/Zigbee) connectivity and supporting Matter applications.
  • ESP32-P4 is powered by a dual-core RISC-V processor. With its AI instruction extensions, advanced memory subsystems and high-speed peripherals, it fully meets the needs of next-generation embedded applications which need solid support for human-machine interfaces, efficient edge-computing, as well as multiple IO connectivity and security features.

Espressif's Chip Portfolio (sorted by mass-production time)

The success of Espressif lies in its technological innovations, which are based on our in-depth understanding of current market trends and forward-looking approach to the future of tech development. Espressif has always relied on in-house research and development, adopting a product differentiation strategy that is committed to providing global users with MCUs and solutions that are highly integrated, yet cost-effective, offering low-power consumption, high performance, as well as network stability and security. As a global provider of comprehensive AIoT solutions, Espressif offers smart hardware, along with a wealth of software solutions and customer services. This all-inclusive approach enables our clients to accelerate creating smart products with a short development cycle. Thus, Espressif has won the trust of a global clientele in such fields as wireless communication MCUs, the Internet of Things, and Artificial Intelligence.

Looking ahead, Espressif will resolutely continue its journey of technological innovation. We are steadfast in pursuing excellence for our ever-expanding product portfolio, while also exploring new technological fields and, therefore, contributing to the development of the semiconductor industry.

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