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Home > News > IoT and wearables IC forecasts reduced

IoT and wearables IC forecasts reduced

IC Insights forecasts that 2017 sales of IoT semiconductors will grow about 16.2% to $21.3 billion, but the expected between 2015-2020 CAGar has been reduced to 14.9%  from 15.6%.

Total semiconductor sales for IoT system functions are now expected to reach $31.1 billion in 2020.

IoT and wearables IC forecasts reduced

IC Insights’ revised outlook for IoT semiconductor sales by end-use market categories shows that semiconductor revenues for connected cities applications are projected to grow by a CAGR of 8.9% between 2015 and 2020 (down from 9.7% in IC Insights’ original forecast).

Meanwhile, the IoT semiconductor market for wearable systems is expected to show a CAGR of 17.1% (versus 18.8% in the previous projection).

The lower growth projection in chip sales for connected cities systems is a result of anticipated belt tightening in government spending around the world and the slowing of smart meter installations now that the initial wave of deployments has ended in many countries.

Slower growth in semiconductor sales for wearable systems is primarily related to IC Insights’ reduced forecast for smartwatch shipments through 2020.

The updated outlook nudges up semiconductor growth in the industrial Internet category to a CAGR of 24.1%  and slightly lowers the annual rate of increase in connected homes and connected vehicles to CAGRs of 21.3% and 32.9%, respectively.