Intel's went from fourth place in 2015 to second place but was still a considerable way behind market leader Texas Instruments. STMicroelectronics remained in third-ranked position and Intel swapped places with Infineon Technologies, which dropped to fourth. Intel surge was attributed to double-digit revenue growth at the company's IoT group due to strength in factory automation, video surveillance and medical applications.
These movements happened while global industrial semiconductor revenues grew to $43.5 billion in 2016, a year-over-year increase of 3.8 percent, IHS Markit said.
Demand for industrial electronics equipment was broad-based, with continued growth in commercial and military avionics, digital signage, network video surveillance, HVAC, smart meters, traction, PV inverters, LED lighting and various medical electronics such as cardiac equipment, hearing aids and imaging systems, IHS Markit said.
The US economy continued to boost industrial spending while improved economic conditions in Europe and large emerging countries like China, India and Brazil toward the end of 2016 that propelled growth. These economic conditions are expected to continue thorough 2017, according to IHS Markit analysis.
"Toshiba, On Semiconductor and Microchip Technology climbed into the top 10 industrial semiconductor supplier ranks in 2016," said IHS industrial semiconductor analyst Robbie Galoso, in a statement.
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