Applications of IOT in semiconductor industry
The Internet of Things (IoT), deemed to be the next growth engine for the semiconductor industry, is a huge market for IC design and semiconductor and IC. It is in the thick of things, in recent times, due to the creation of significant business opportunities. There is no denying that the advent of IoT has significantly influenced the Sensor adoption.
With the emergence of smart homes, smart appliances and wearables, there is a huge demand for IoT sensors in the consumer segment.
Sensor trends in mobile phones are driven by advances in microphones, accelerometers, and fingerprint authentication.
Applying IoT in smart grid is an essential approach to accelerate the informatization of power grid system. Further, it is useful in managing the power grid infrastructure successfully. Innovative sensing and IoT communication technologies can avert the damage of natural disasters what cause to the transmission lines. Besides, it helps in lowering economic loss, strengthening the power transmission system.
Robotics and Drones
Drones are widely used in monitoring locations for oil spills, rupture of oil pipelines, and gas emissions, whereas the need for Robotics is on the rise in manufacturing semiconductor and electronics applications like integrated circuits.
Capitalizing on IoT for enhanced growth opportunities
There are bright opportunities for semiconductor companies to offer value to their end customers by expanding into five crucial IoT markets such as health care, consumer, automotive and industrial, smart city.
Adopting the following approaches will help the semiconductor industry in meeting the desired objectives
- Building a right Ecosystem and Promoting Engagement
It is essential to build an ecosystem of companies comprising device manufacturers, cloud providers, connective protocols, analytics, IoT platforms, and more who share a vision and have complementary assets and skills.
Semiconductor companies require to know, develop and support clients and business partners to facilitate their growth. This may necessitate offering them technical, business, as well as financial support.
- Lasting Digital Sales Platform
An integrated Digital Sales Platform brings together the providers of varied components of end-to-end solutions. The advantage with Digital Sales Platform is that business partners need not be together at the same place and they can work from remote places while sharing their ideas.
- Guaranteeing security and privacy
Software-based API Security authenticates and authorizes data movement besides narrowing down security issues that creep up during the stages of integration and implementation of IoT systems.
- Customizing products to suit industrial needs
Every business vertical, be it industrial or automotive or healthcare has its own requirements. IoT’s sensors hold significant benefits to the applications of all these segments. As such, semiconductor companies would be hard-pressed to adopt a smart strategy to customize their products to match different industries’ needs.
The semiconductor industry has immensely benefited from the IoT’s development in building cutting edge devices such as mobiles, tablets, electric cars and wearable devices. However, the semiconductor industry will have to expand services to keep shareholders happy and post high profit margins.