Semiconductor Industry Growth Led by Blockchain Mining, IOT and AI Technologies

Semiconductor Industry Grows Pushed by Blockchain, IOT and Other Technologies

According to data from the World Semiconductor Trade Statistics (WSTS) the industry continues to grow pushed by blockchain technology, internet of things (IoT) and artificial intelligence (AI).

As per the data provided by the WSTS, the global sales of semiconductors were $40.1 billion just in August 2018. That represents an increase of over 15% compared to the same month in 2017. At the same time, sales grew in August 1.7% compared to July 2018.

Most of the companies that are interested in these products are related to Artificial Intelligence (AI), Blockchain and Internet of Things (IoT). Accenture reports that these firms working in these technological areas require are making the biggest purchases.

Syed Alam, Managing Director at Accenture Strategy, said that he is optimistic about the industry and the future of the sector. He mentions that blockchain technology is a great tool in order to simplify business operations.

On the matter, he commented:

“This faster traceability will improve companies’ business operations and accelerate delivery of their products to market – while enabling them to do so at lower costs. Semiconductor companies can also use blockchain to create, scale and manage technology-based collaborations and redefine future business transactions.”

At the same time, according to Stratistics MRC, there are several semiconductor companies that want to embrace IoT in order to increase their revenues. Some of the most important companies that are thinking about implementing blockchain solutions we find Squire Mining Ltd., Taiwan Semiconductor Manufacturing Company Limited, and many others.

Accenture believes that an important number of companies in the industry will start to integrate distributed ledger technology (DLT) in three years.

However, not everything is positive about the current situation of the market. There are some challenges that need to be faced. For example, the semiconductor industry is worried about what can happen to its exports after the tariffs imposed by US President Donald Trump on Chinese goods.

As reported by CNBC, the tariffs imposed by Trump will clearly have a negative impact on the industry.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

CFTC Chair Is Ready to List More Crypto Based Futures; Just Waiting on SEC's Clearance

The Chairman of Commodity Futures Trading Commission (CFTC), Heath Tarbert, has said that they are waiting for SEC clearance on more digital assets to...

Mercedes-Benz Parent, Daimler AG, Pilots PoC Supply Chain Data Sharing System with Ocean Protocol

Daimler AG, the Mercedes Benz carmaker, has partnered with the decentralized data-sharing platform - Ocean Protocol. The partnership would help the Daimler to store their...

Insufficient Clarity for Regulations And Taxes May Force US Investors Move On: Coinbase Tax VP

The Chief Tax Officer of Coinbase, Lawrence Zlatkin, believes that lack of clarity in the US' crypto taxes could alienate prospective investors. He shared...

Chinese Ride-Hailing Unicorn, Didi Chuxing, to Pilot Digital Yuan; First Mass Scale Use of DCEP

China's 'Uber,' Didi Chuxing, will test run the digital yuan according to an announcement on July 8. The Chinese ride-hailing unicorn has over 500...

Kyber Network Makes DeFi Debut Following a Protocol Upgrade and KyberDAO Mainnet Launch

Kyber Network has launched a protocol upgrade dubbed 'Katalyst' alongside Kyber DAO on the Ethereum mainnet as per a blog post yesterday by the...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today