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Internet of Things: Chip Makers Expected to Benefit from Growth in IoT
The Internet of Things (IoT) is expected to generate $4 to $11 trillion in revenues globally in 2025, according to the McKinsey Global Institute. The revenues will come from hardware, software, services and integration activities. A major benefactor of this growth will be the semiconductor industry.
Reinhard Ploss, CEO of Infineon Technologies, said that “IoT as well as digitization will belong to the big drivers for the growth of the semiconductor industry in the next years. Currently IoT is still highly fragmented with a lot of single solutions. A key factor for success will be the competence to integrate and apply these single solutions.”
The semiconductor industry is already reaping some of the benefits. Chip sales in 2017 set a records, growing 20 percent and surpassing the $400 billion mark for the first time. Chip, especially memory chips, are in short supply now and driving price, according to an EETimes article.
Matt Anderson, president of Arrow Electronics, said that “I think things are different this time. I think there’s going to be a need for more electronics everywhere, and it’s going to fuel maybe a different length of cycle. Maybe it’s a slow, steady, gradual building of a new industry, which is the internet-enabled anything.”
