World Semiconductor Trade Statistics (WSTS) estimates the industrial market at 12 percent of total chip sales and that the industrial sector showed a compound annual growth rate of 4.8 percent over the period 2010 to 2015 as it moved from $31.9 billion to $40.3 billion in annual sales.
Semico is predicting that the industrial IoT semiconductor revenues will grow at a CAGR of 7.7 percent from 2015 to 2020 and that industrial MEMS revenues will more than double over the same period.
Semico Research segments the Industrial IoT into two markets, smart manufacturing and infrastructure. The smart manufacturing segment includes advanced process control, manufacturing process monitoring, supply chain management, ERP, and MRP.
Infrastructure is usually associated with public community projects but also includes building systems. Some of the more obvious areas of impact are expected to be in the public infrastructure services such as public lighting.
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Using 19th-century math to better predict semiconductor, IoT markets