The Internet of Things drives the rapid development of the chip industry

With the popularity of the Internet of Things (IoT), people seem to have sensed the arrival of the era of the Internet of Everything. Through the IoT, people, people and things, and things and things can quickly and intelligently exchange information and communicate, thereby gaining a more convenient life experience.

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The Internet of Things drives the rapid development of the chip industry

Driven by the Internet of Things, the chip industry will also flourish. According to a report released by market research firm IC Insights, the Internet of Things and automotive applications will become the main factors driving chip sales growth between 2015 and 2020.

It is reported that during this period, the compound annual growth rate (CAGR) of IoT chip sales is expected to reach 13.3%, while the compound annual growth rate of automotive chips can reach 10.3%. The market size of the entire semiconductor industry will also increase by 4.3% during the same period.

The compound annual growth rate (CAGR) of IoT chip sales is expected to reach 13.3% from 2015 to 2020

The report also predicts that IoT-related applications will bring $12.8 billion in sales to the semiconductor industry in 2016, while chip sales related to automotive applications are expected to reach $22.9 billion.

The Internet of Things is a large and complex system. Hundreds of billions of different devices have different requirements for network connections, which brings more development opportunities for the implementation of Internet of Things technology in various industries.