Gathering micro-messages (Wen/Xiaobei) IC Insights pointed out in its report “Driven in IC Markets in 2018” that the total sales volume of the Internet of Things market in 2018 is expected to reach US$90.9 billion. Among them, the Internet of Things products for industrial Internet applications are expected to be realized. 17.7% increase in sales to $35.9 billion; Internet of Things products for smart cities, including intelligent transportation, smart street lights, security monitoring, environmental monitoring, etc., are expected to achieve a sales growth of 7.0% to $38.8 billion; for connected homes IoT products are expected to achieve sales growth of 16.0%, reaching US$2.9 billion; wearable IoT products are expected to achieve sales growth of 12.4%, reaching US$ 11.8 billion.
The report lowered the expected value of the compound annual growth rate for the Industrial Internet, Connected Home and Wearable Markets from 18.7%, 16.8, 12.8%, to 17.8%, 14.8%, 11.9%. The average annual growth rate has slightly increased from 6.3% to 6.5%, as shown in the figure below.
IC Insights predicts that connected cars will become the most growth market in the Internet of Things, with an increase of up to 21.6% and sales of US$4.5 billion. The CAGR of 2016 to 2021 will reach 22.9%. Capabilities are regarded as an important factor in improving vehicle safety and enhancing the infotainment experience, such as positioning, road condition alerts, driver assistance functions, and shop floor communications. As a result, car manufacturers are very active in the introduction of connected technologies.