The chip sector consolidation is being fueled by the projected growth in autonomous vehicle technology and the Internet of Things (IoT). These technology darlings are replacing smartphones as drivers of growth, as phone sales growth continues to flatten. Automotive has been driving M&A and will be the force behind M&A in the chip sector for some time,” said NXP’s general manager, Automotive, Kurt Sievers. “Maybe in a broader perspective, all things connected to the internet.”