In my last blog, IoT is Now!, I provided a bird’s eye view of the IoT landscape. In this post, I will dive deeper into the IoT by the numbers, slowly peeling back the onion to reveal what part of the Things, Networks, and Data Centers we play in.
According to the McKinsey report The Internet of Things: Mapping the Value Beyond the Hype, the IoT will have $3.9-11.1 trillion in economic impact per year by 2025 including $200-$700 billion in automotive, $200-$350 billion in the home, and $1.2-$3.7 trillion in factory operations and equipment optimization. This value is not measured purely in technologies sold, but in significant efficiencies generated.
We are currently in a mobile computing or smartphone era that’s shifting to pervasive computing—primarily IoT—and will eventually evolve into intelligent computing.
Have we forgotten that IoT isn’t something new? It’s been around for more than a decade. And, its progress and growth have been driven from a foundational technology architecture that is still being used today.
This growth is significantly influenced by continued technology development. At the heart of it, we are enabling industries to spawn based on the capabilities that we give them. We enable progress and growth by maintaining a technology advantage, making it easy for customers to do business with us, and maintaining a competitive cost structure for the industry.
In this sense, every ounce of efficiency we’re able to find in manufacturing, every single technology innovation that helps manage power—even in the smallest fraction—and every breakthrough in RF implementation for connectivity, are significant steps to fully realize the potential of the IoT.
Success in the IoT is a fundamentally diverse effort, with continued success coming from partnerships among large and small companies alike, empowering them to define the IoT across a range of industries.
At SEMICON China, IoT is a hot topic, with a forum devoted to this theme: Technology Shapes the Future-Sensor Hub Solution for Wearable and IoT on March 17. During this session, I will discuss enabling semiconductor technologies that drive the IoT and the “atoms of intelligence” that lead to Intelligent Computing.
And in my next blog, we’ll explore the amazing IoT applications that wouldn’t be possible without a strong process technology powering the semiconductors that are “under the hood.” It’s an incredible vertical integration story with many turning gears and we’ll dissect key sections of this “under the hood” story in each blog. I invite you to join me.