The cloud-based ecosystem helps OEMs to develop end-to-end solutions eliminating obstacles that comes with IoT devices development through trusted partnerships.

United States. Avnet, global leader of electronic components and services, is planning to team up with ON Semiconductor to help original equipment manufacturers (OEMs) develop Internet of Things (IoT) devices. The objective of the collaboration is to simplify the process of building IoT-enabled devices through rapid prototyping solutions, which are preconfigured to connect to IoT app developers and service providers via cloud. The first supported solution offered by ON Semiconductor is RSL Sensor Development Kit, which comes with a Flash-based Bluetooth Low Energy radio and several environmental sensors.

Generally, the Original Equipment Manufacturers require new skillsets to launch an IoT product, which makes it challenging for a single company to accumulate all the pieces together seamlessly while also addressing the complexity of a diverse and global supply chain. With this collaboration, Avnet and ON Semiconductors aim to make IoT development process less complex for OEMs, allowing them to focus on building market-differentiated solutions, and accelerate the development process to bring the products to market faster with reduced risks.

Addressing the collaboration, ON Semiconductor’s head of IoT commented, “With innovative, low-power system solutions from ON Semiconductor alongside the robust IoTConnect platform, Avnet and ON Semiconductor provide a secure development environment for jumpstarting any IoT initiative. IoT presents a huge opportunity for OEMs to add autonomy to their products via sensing, connectivity, and actuation, which can create new revenue streams and improve efficiencies. ON Semiconductor and Avnet can help OEMs drive innovation forward by building smarter devices that address their customers' needs.

Meanwhile, Avnet has also partnered with Cypress Semiconductor to provide access to Cypress’s solutions portfolio to customers as a part of Infineon product line. The expansion of Avnet’s Infineon product enables customers to integrate Cypress’s hardware, software and security solutions for their technology projects and initiatives, particularly IoT sectors. The Infineon line now offers power semiconductors, automotive microcontrollers, sensor, and security solutions to meet business needs for customers around the world.

TechSci research said, “The increased utilization of modern technological systems such as IoT enhances the competitive environment, putting OEMs on a constant mission to expand their offerings and provide the best equipment to customers. Thus, building new partnerships and enhancing current relationships can ensure customer satisfaction, increase productivity, efficiency and achieve ROI. The new developments and innovations introduced in the IoT devices would only fuel the Global internet of things market in the coming years.”

According to TechSci research on “Global Internet of Things Market By Platform (Network Management, Application Management and Device Management), By Component (Hardware, Services and Software), By Application (Consumer Electronics, Smart Mobility & Transportation, Building & Home Automation, Connected Logistics, Smart Retail, and Others), By Region, Competition, Forecast & Opportunities, 2025”, Global internet of things market was valued USD168.65 billion in 2019 and is forecast to grow at CAGR of over 19% to reach USD480.39 billion by 2025. Global internet of things market is driven by emergence of advanced data analytics technology, surge in adoption of cloud computing and increased prevalence of connected devices for user-friendly interface. Also, the higher disposable income of the middle-class families and upgraded living standard is creating opportunities, which is driving global internet of things market through 2025.

According to TechSci research on “United States IoT in Manufacturing Market, By Component (Solutions, Platforms and Services), By Application Area (Predictive Maintenance, Business Process Optimization, Asset Tracking & Management, Logistics & Supply Chain Management, Real-Time Workforce Tracking & Management, Automation Control & Management and Emergency & Incident Management, & Business Communication), By Vertical Market (Energy & Utilities, Automotive, Food & Beverages, Aerospace & Defence, Chemicals & Materials, High-Tech Products, Healthcare and Others), By Company, By Region, Forecast & Opportunities, 2015-2025”, United States IoT in Manufacturing Market is expected to grow at a robust CAGR by 2025, owing to increased digitization in manufacturing and growing adoption of new technologies such as IoT and Big Data across various industries. Moreover, the rising investments in R&D and the emergence of intelligent machine applications will propel the growth of the market further. Based on the vertical, the energy and utilities segment is expected to lead the market due to applications like process optimization, plant automation etc. Based on components of the IoT in Manufacturing market, the services segment is projected to lead the market due to the application of managed services in deploying IoT based on consumer preferences.