Communications giant Broadcom has identified the Chinese automotive market as the key driver for its ambitions in the Internet of Things, according to its EVP for Worldwide Sales.
Keynoting on the opening day of Semicon China in Shanghai, Michael Hurlston outlined a convincing series of forecasts that underpin his company’s strategy.
- More than 20% of all IoT devices will be sold in China, making for a CNY10tr ($162bn) market .
- Automotive will have the fastest CAGR, 10%, of any IoT segment from now until 2025.
- By 2020, China will account for 35% of all automotive sales, with a share 2.5X greater then North America.
- Many cars today have as many as 800 semiconductors inside them and by 2020 that number is expected to rise to 1,000 for typical vehicles – “It’s not a big stretch.”
- Hurlston further noted that while China had been seen to trail in the early stages of markets such as digital computing and even mobile, “It will be at the forefront of the Internet of Things.”
Broadcom seeks more partners
Given that, he noted that this was an “exciting time” for Broadcom to actively be seeking out further partnerships in and for the Middle Kingdom because its electronics market “is moving from manufacturing and import to design and export.”
Also at Semicon China, Broadcom announced an intriguing-sounding automotive-focused alliance for China with the developers of an innovative 3D photovoltaic cell technology, Solar3D.
Broadcom’s global ambitions in automotive are well known. It sees the sector as having plenty of opportunities in its core areas of WiFi, Bluetooth, NFC and wireless charging (and many of these technologies have or already securing a foothold in mainstream vehicles). The company is also continuing to build out and promote its BroadR-Reach automotive Ethernet technology.
But it is now clear, as Hurlston told his audience in Shanghai, that “China is leading the way.”