Recently, Qualcomm publicly began a discussion about the growing momentum across many Internet of Things (IoT) business verticals at its IoT industry analyst workshop. It also announced that it has expanded the distribution channels for its products and now reaches more than 9,000 customers, nearly 20 times the number of customers compared to 2014, through indirect sales channels including more than 25 global distributors.
“We are committed to providing innovative technologies to help expand the IoT ecosystem. We are looking to make it easier for companies of all sizes to succeed in designing and commercializing innovative IoT solutions and to participate in this huge opportunity,” said Cristiano Amon, president, Qualcomm Incorporated. “The strategy we set a few years back of taking our leading-edge technologies into growth opportunities is delivering results. We expect IoT revenues in excess of $1 billion this fiscal year after solid double-digit growth over the last couple of years, driven by our ability to reuse our investments and R&D in mobile technology to make this a very healthy business.”
Ecosystem Momentum
At the analyst day, Qualcomm Technologies’ executives discussed overall IoT momentum and outlined some specific areas of growth. Qualcomm Technologies’ traction in IoT spans across a variety of ecosystems supported by direct sales activities and the expanded indirect sales channels.
In Industrial IoT segments, including enterprise, manufacturing, retail, supply chain and utilities, Qualcomm Technologies’ modems and SoCs are providing vital connectivity and edge processing for products such as point of sale terminals and industrial handhelds. As a result, revenues are growing rapidly and are on track to double this fiscal year versus two years ago. Qualcomm Technologies anticipates its addressable opportunity in the Industrial IoT will grow at an approximately 20 percent CAGR over the next few years, and it expects to exceed that growth with its Industrial IoT revenues.
In smart homes, Qualcomm Technologies’ innovations in mesh Wi-Fi and 11ax solutions are helping solidify the Company’s leading Wi-Fi position in retail including home access points and routers, with major manufacturers of mesh Wi-Fi relying on Qualcomm Technologies’ solutions to help provide whole-home wireless connectivity. This strength in home connectivity, coupled with recent product introductions featuring edge computing, on-device artificial intelligence (AI) and voice control, is designed to help the Company grow its footprint in connected and smart home devices such as appliances, lighting, and more recently smart displays including an award winning product launch from Lenovo. Qualcomm Technologies expects four-fold revenue increases in SoC chipsets from the Home Entertainment segment in fiscal 2018 versus a year ago.
Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.Edited by
Ken Briodagh
