- It added that the penetration of semiconductor components classified as IoT is expected to grow from 7 per cent in 2019 to 12 per cent by 2025
- The crucial drivers include big data analytics, mobile communication, gaming, connected and semi-autonomous cars
The global Internet of Things (IoT) semiconductor component market will grow at a compound annual growth rate of 19 per cent from $33 billion in 2020 to $80 billion in 2025 as per a report by IoT Analytics. It added that the penetration of semiconductor components classified as IoT is expected to grow from 7 per cent in 2019 to 12 per cent by 2025.
The report added that the key components driving this IoT semiconductor growth are microcontroller units (MCUs), connectivity chipsets, Artificial Intelligence (AI) chipsets, and security chipsets and modules. It said that the increasing penetration of IoT semiconductors will necessitate chipmakers to put an enhanced focus on typical IoT requirements
Active IoT device connections grew from 3.6 billion in 2015 to 11.7 billion in 2020
The crucial drivers include big data analytics, mobile communication, gaming, connected and semi-autonomous cars, and to a large degree, the fast growth of IoT devices said the report.The number of active IoT device connections grew from 3.6 billion in 2015 to 11.7 billion in 2020, according to the estimate by IoT Analytics. By the end of 2025, the numbers could grow to a total of 30 billion IoT connection.
The report said that consumer IoT devices such as smartwatches and smaller wireless accessories have seen a particularly high demand in recent years. It has made several companies including some smartphone makers that were not making IoT devices a few years ago to move into the IoT ecosystem.
