The semiconductor and sensor markets for IoT are expected to reach a value of USD 114.2 billion in 2025, up from USD 27.6 billion in 2015, with a CAGR of 15.3%. Key semiconductors in IoT applications include controllers, wireless connectivity, and embedded non-volatile memory. The strong growth of semiconductors in IoT devices is driven by the colossal need for more data, with the requirement that the generated data provides value to users.