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.

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