What is the growth rate of the wireless market in terms of CAGR
?
Tyson Tuttle -- Chief Executive Officer
Yeah, Tore. Thanks a lot for the kind words. I'm going to miss traveling with you and your thoughtful reports and questions. So -- but we're not done yet here, we got to get a little bit of time to go. We started out over a decade ago, I think you remember when we said, hey, we're going to pivot the company to IoT and we had been a high performance mixed signal an RF provider of various components across a diverse set of markets. But we viewed the IoT as kind of the next frontier where we're integrating wireless connectivity into everything outside of the PC and handset. And we predicted there would be tens of thousands of customers and thousands of applications, but that technology over time and that that would be a long-term growth trend where we could be able to control the integration path to not just do the SoC and the chips to integrate wireless and battery management and processing in memory and sensor interfaces and now security and AI and a lot of things but also build on top of that, build our differentiation to where you have communication protocol stacks and they become experts in networking and communication standards to develop tools and the channel to sell across all of those markets, effectively and to drive simplicity so that we're able to effectively support those customers. And we've seen that business grow from several hundred million to now over $650 million this year and divesting our Infrastructure and Automotive business, which was essentially the legacy business to be able to focus on this is I think a real testament to how that that strategy has played out here over the last decade. And as we look forward, we see our position is strong and growing and strength. We've now -- we're now supporting a multitude of wireless standards to a very -- to address various segments of the market. We've got, we're supplying solutions to industry leaders. We've got a huge pipeline of design wins and decades of growth ahead in terms of the wireless market is growing at about a 15% CAGR so 5 times or more GDP.
And so that puts the company on a really good footing. And there's a lot of work to do to get out our new products and to continue to innovate, to continue to build out those teams, to continue to support customers in a more efficient way, so that we can continue to gain leverage off of the bottom line as the revenue grows. And I couldn't be more excited about what we -- more proud of what we've created and more excited about the path ahead and I'm delighted. I've been working with Matt here for the last three, four years, you actually the last year, it seems like even longer than that, but he is a fantastic leader of the team. And the team really rallied around him and he has got energy and passion and is going to do a great job carrying our values and our strategy and then evolving that into the future and leading the team. So thank you all for your patience over the last decade. It's been a really, really exciting time. And I think the future is very, very bright for Silicon Labs as I move onto the Technical Advisory Board and get to chair from the sidelines.
Tore Svanberg -- Stifel Nicolaus -- Analyst
Thank you for that, Tyson. As a follow-up, John, you mentioned, total bookings of $400 million, which translates to a book to bill of 1.43. Could you calibrate that number a little bit more, I mean is the bulk of those bookings in IoT any other color you can share?
John Hollister -- Chief Financial Officer
Yeah, Tore, the majority of the bookings are in IoT and the calibration you're correctly viewing that it's very high, and it has been high now for three quarters. And what that means is, we have an extraordinarily high level of backlog coverage in the business right now. It really is a supply constrained in the -- as we've been indicating we're working constantly to activate as much supply as we can to drive the growth, but it is a very high level of bookings.
Tore Svanberg -- Stifel Nicolaus -- Analyst
Sounds great. Thank you very much.
Operator
This concludes o
?
Tyson Tuttle -- Chief Executive Officer
Yeah, Tore. Thanks a lot for the kind words. I'm going to miss traveling with you and your thoughtful reports and questions. So -- but we're not done yet here, we got to get a little bit of time to go. We started out over a decade ago, I think you remember when we said, hey, we're going to pivot the company to IoT and we had been a high performance mixed signal an RF provider of various components across a diverse set of markets. But we viewed the IoT as kind of the next frontier where we're integrating wireless connectivity into everything outside of the PC and handset. And we predicted there would be tens of thousands of customers and thousands of applications, but that technology over time and that that would be a long-term growth trend where we could be able to control the integration path to not just do the SoC and the chips to integrate wireless and battery management and processing in memory and sensor interfaces and now security and AI and a lot of things but also build on top of that, build our differentiation to where you have communication protocol stacks and they become experts in networking and communication standards to develop tools and the channel to sell across all of those markets, effectively and to drive simplicity so that we're able to effectively support those customers. And we've seen that business grow from several hundred million to now over $650 million this year and divesting our Infrastructure and Automotive business, which was essentially the legacy business to be able to focus on this is I think a real testament to how that that strategy has played out here over the last decade. And as we look forward, we see our position is strong and growing and strength. We've now -- we're now supporting a multitude of wireless standards to a very -- to address various segments of the market. We've got, we're supplying solutions to industry leaders. We've got a huge pipeline of design wins and decades of growth ahead in terms of the wireless market is growing at about a 15% CAGR so 5 times or more GDP.
 And so that puts the company on a really good footing. And there's a lot of work to do to get out our new products and to continue to innovate, to continue to build out those teams, to continue to support customers in a more efficient way, so that we can continue to gain leverage off of the bottom line as the revenue grows. And I couldn't be more excited about what we -- more proud of what we've created and more excited about the path ahead and I'm delighted. I've been working with Matt here for the last three, four years, you actually the last year, it seems like even longer than that, but he is a fantastic leader of the team. And the team really rallied around him and he has got energy and passion and is going to do a great job carrying our values and our strategy and then evolving that into the future and leading the team. So thank you all for your patience over the last decade. It's been a really, really exciting time. And I think the future is very, very bright for Silicon Labs as I move onto the Technical Advisory Board and get to chair from the sidelines.
Tore Svanberg -- Stifel Nicolaus -- Analyst
Thank you for that, Tyson. As a follow-up, John, you mentioned, total bookings of $400 million, which translates to a book to bill of 1.43. Could you calibrate that number a little bit more, I mean is the bulk of those bookings in IoT any other color you can share?
John Hollister -- Chief Financial Officer
Yeah, Tore, the majority of the bookings are in IoT and the calibration you're correctly viewing that it's very high, and it has been high now for three quarters. And what that means is, we have an extraordinarily high level of backlog coverage in the business right now. It really is a supply constrained in the -- as we've been indicating we're working constantly to activate as much supply as we can to drive the growth, but it is a very high level of bookings.
Tore Svanberg -- Stifel Nicolaus -- Analyst
Sounds great. Thank you very much.
Operator
This concludes o