Smart TVs, wearables, autonomous vehicles and other Internet-connected devices will drive rapid growth in the semiconductor industry during the next few years, according to new research released Monday from Gartner.
The consultancy is forecasting almost 30 percent growth through 2020 for Internet of Things semiconductor revenue. In particular, sensors will be in high demand, with 47.5 percent growth projected in 2015.
“The demand for billions of things will ripple throughout the entire value chain, from software and services to semiconductor devices,” said Alfonso Velosa, research director at Gartner. “These ‘things’ will drive huge demand for individual chips. IoT semiconductor growth will come from industries spanning consumer, industrial, medical, automotive and others.”
IoT Semiconductor Revenue by Electronic Equipment (Millions of Dollars)
Source: Gartner (October 2014)
This staff report was originally published by TechWire.