IoT will play a crucial role in driving revenue

by | Apr 3, 2019 | IoT News

Internet of Things has crossed the barrier being hyped as a marketing element. For almost a couple of years, the Internet of Things is driving the consequential sales for both small and large scale semiconducting firms. And as of now, the groundbreaking cost-effective technology is viewed as the key element when it comes to the selling of the chipsets.

The significant semiconductor firms all around the world have reportedly ranked Internet of Things as one of the most crucial application to drive the revenue in the year 2019, based on a survey that KPMG has conducted.

Out of 149 semiconductor industries, two-thirds of these companies have reportedly responded of the survey that the worldwide semiconductor KPMG has released. By the looks of it, the study has ranked IoT as the top-notch element for driving the revenue of the semiconductor companies. The survey also predicts that IoT is still going to play a key role in operating revenue in the following year.

IDC, the market research firm states that the global spending in technology around the world is going to hit $745 in 2019 and by the time the world progresses towards 2022, the overall growth of IoT will be around $1.2 trillion.

Wireless communications proved out to be the #1 driver of the revenue according to the respondents in the KPMG survey which of 2018. The statistics state that around 60% of the respondents of the study named wireless connection to be a leader in driving the revenue for the SoCs industry. On the other hand, Artificial Intelligence came in second as the tech has driven 56% of the total revenue.

The small scale firms are bringing the significant sources of development in the industry, according to Lincoln Clark, leader of KPMG global semiconductor.

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Neelam Dimri

A post graduate and gold medalist in English literature with a great passion for writing. I am an avid blogger and love to write technical and nontechnical Articles, Blogs, e-books, the latest platform of global interest. I firmly believe in the healing power of writing and how it works fantastically to improve one’s creativity as well as personality. Life is too short to express yourself so, keep writing and enjoying.