By 2020, it’s expected that the IoT market will climb to a startling $267 billion. Industrial IoT investment is predicted to reach $60 trillion within 15 years, and the industry is already showing rapid growth. As artificial intelligence and machine learning advance, the semiconductor market will expand. IoT will take up 8% of this niche within three years.
Industrial Internet of Things
IIoT is a relatively young industry so many of its investments have gone to startups. Gartner analysts have pegged intelligent street lamps and lighting systems as two of the many drivers of future growth. While the data age isn’t yet at an end, it will be influenced by methods of processing information and learning from it. For this reason, the analytics niche is attracting plenty of attention.
The word “diversification” is on everyone’s lips. IIoT workers must apply their knowledge to chips that can solve complicated, but practical, issues related to manufacturing and logistics. Sensor-driven tactics are expected to push the industry forward, as will the fulfilment of more specialized security. Security takes up a large fraction of R&D expenditure, so it cannot be ignored.
The semiconductor market has begun to mature, which has tempered much of its growth. Innovations in artificial intelligence may give it the fuel it needs to jump to the same heights it managed in 2014.
Venture capitalists’ backing of IoT startups should inspire fresh and interesting growth. Research and development is desperate for more investment, but much of the money is being fed into internet-connected devices instead. This certainly doesn’t mark an end to what has become a flourishing market, but China’s commitment to nurturing its own semiconductor sector could well give it competitive advantage against Western tech giants.
Source: Semiconductor Engineering. Iot Startups Rake In Cash