The Smith team is setting up for this year's electronica 2014 in Munich, Germany, and tomorrow kicks off the event which is expected to see over 70,000 visitors from around the world. Tomorrow's opening day brings one of the event highlights, the CEO Roundtable focused on the Internet of Things (IoT).
IoT across verticals
IoT is not only an important catalyst for growth in the semiconductor and electronics industry, it also defines how users are framing their demands of devices and applications. The issue of multitasking and connectivity across devices to remotely control and access devices and data is at the forefront of demands. However, the IoT and users' interface demands also raise important questions about security, access, capability and challenges.
IoT focuses connectivity and interoperability issues while extending across numerous verticals and, for the first time, truly providing a unified entry for users to connect various aspects of their lives. For example, not only is remote patient monitoring and medical support high on the list of opportunities from IoT connectivity, but improved health and fitness feedback to users will help with preventative care through overall healthier lifestyle options. Also, increased SmartHome functionality promises improved energy efficiency capabilities through alerts, remote access and demand management. Farther down the future road is the increased automotive IoT capabilities with real-time traffic updates, accident reporting, and real-time navigation support to improve commutes and reduce fuel waste. Additionally, as electronica notes, "[…] in industry, networked machines get the information that they need to manufacture a product through RFID chips or barcodes, which makes them capable of controlling themselves."
Semiconductor and electronics growth up
With the semiconductor and electronics industry growth continuing to rise steadily across regions, as we recently discussed the SIA record-breaking data, there is much to be excited about as electronica's doors prepare to open. Not only does IoT growth support increased electronics penetration across market verticals, but we are also seeing solid data supporting continued rise in demand for devices needed to access the internet and take advantage of the IoT. This demand is fuelling the demand for embedded semi, sensors, networking equipment and capabilities, as well as industrial semi and electronics. Taken together, these demands are well positioned for supporting long-term sustainable growth globally as multiple markets and industries are engaged in the current growth and IoT adoption.
The opportunities for enhanced capabilities and offerings to users for the automotive and health industries are truly phenomenal and hold significant promise not just for the semiconductor and electronics industry, but for wider growth and customer benefits, especially. As these two important industries increase their electronics reliance, we will see not only important and sustainable growth, but also critical improvements in the safety and health of consumers, which will, in turn, further promote the adoption of these new technologies and the IoT.
Electronica 2014 opens its doors tomorrow and we are excited and looking forward to sharing ideas with those in attendance, please stop by the Smith & Associates booth at Hall A4, Booth 412.