Global Semiconductor Sales Grow as the Industry Embraces IoT and Blockchain Technology

Data provided by the Semiconductor Industry Association (SIA) indicates that worldwide sales of semiconductors reached USD 40.16 Billion for the month of August 2018, representing an increase of 14.9% when compared to the August 2017 total of USD 34.96 Billion. Global sales in August 2018 were 1.7% higher than the July 2018 total of USD 39.49 Billion. The semiconductor industry is one of the fastest growing industries of the technology sector. According to Stratistics MRC, many semiconductor companies are beginning to embrace IoT to drive new revenue and growth models. Squire Mining Ltd. (OTC: SQRMF), Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM), Applied Materials, Inc. (NASDAQ: AMAT), Qorvo, Inc. (NASDAQ: QRVO), Entegris, Inc. (NASDAQ: ENTG)

According to a recent report by Accenture, the semiconductor industry is the most bullish sector when it comes to the integration of blockchain within their industry and the impact of artificial intelligence. “Throughout the industry’s complex supply chain, blockchain simplifies business operations leveraging semiconductor chips and related technologies,” said Syed Alam, a Managing Director in Accenture Strategy who leads Accenture’s Semiconductor practice. “This faster traceability will improve companies’ business operations and accelerate delivery of their products to market – while enabling them to do so at lower costs. Semiconductor companies can also use blockchain to create, scale and manage technology-based collaborations and redefine future business transactions.”