|Automotive, IoT chip markets leave other segments behind |
December 06, 2017 // By Christoph Hammerschmidt
There are currently two big sellers in the semiconductor market: Automotive and Internet of Things. With an average annual growth rate (CAGR) of just over 13 percent, these two sub-markets leave the former growth leader in mobile handsets in the dust behind, the market research institute IC Insights has calculated.
In their latest report "IC Market Drivers 2018" the market researchers go into detail. The two new champion markets are predicted to grow 70 percent faster than the industry average over the entire 2016-2021 period. Driven by the dynamic development of driver assistance systems (ADAS) and autonomous driving as well as electric mobility in the medium term, the automotive market will have almost doubled by the end of the period under study - from $22.9 billion in 2016 to $42.9 billion in 2021.
The market watchers predict almost the same growth pace but a little lower total volume for the IoT market with its broad variety of sensory, systems, and objects. This market segment is expected to reach a volume of $34.2 billion in four years – compared to just $18.4 billion last year.
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