Industrial Electronics to Grow & Drive the Semiconductor Industry by 2020: A IHS Report
ENGLEWOOD, CO: IHS, a provider of information and analysis that supports the decision-making process of businesses and governments, announces the “Industrial Semiconductor Market Tracker” report. This report covers the industrial semiconductor revenues for year 2014-2020.
The industrial electronics market was worth $41.4 billion in 2014 which was 11% of the entire semiconductor market. Industrial electronics spans a variety of application fields comprising manufacturing and process automation, test and measurement, medical electronics, building and home control, power & energy and military and civil aerospace.
Gradual growth in the USeconomy lifted up the industrial equipment demand. Products used for commercial aircraft, LED lighting, digital-video surveillance, climate control, smart meters, traction, wireless application-specific testers and medical electronics increased the growth in the industrial electronics market. However, the hinder in the industrial market was caused due to the falling oil prices and the slowdown in China.
According to the latest information from the IHS Industrial Semiconductors Intelligence Service, the industrial semiconductor market will grow at a CAGR of 8.4% by 2015-2020.
The top industrial semiconductor suppliers in the market are Texas Instruments followed by Infineon Technologies, Intel, STMicroelectronics and Analog Devices. “The flat growth in the industrial semiconductor market last year is a bit discouraging, after a period of such robust growth, but there’s hope on the horizon,” says Robbie Galoso, Associate Director, Industrial Semiconductors, IHS Technology. “The industrial market showed resilience in 2015 and all signs are pointing to improving growth in the future.”