NanoMarkets Issues New Report on Market for IoT SensorsFebruary 20, 2013
Analyzes opportunities for Internet-connected sensors for home and building automation, consumer electronics, healthcare, industrial, and transportation sectors.
GLEN ALLEN, VA -- Industry analyst firm NanoMarkets announced the release of its new report titled "Sensors for the Internet-of-Things: 2013–2020." The report analyzes and quantifies the opportunities for Internet-connected sensor products in six key industry sectors: home automation, commercial building automation, media and gaming, healthcare, the "Industrial Internet," and "transportation and logistics." The report covers both the sensors and the hubs through which they are connected.
NanoMarkets estimates that the global market for IoT sensors will be approximately $1.6 billion ($US) in 2013, and will grow to a value of $17.6 billion ($US) by the end of the decade as sensors become increasingly connected to the Internet directly or through hubs. However, NanoMarkets notes that much of this growth will be at the expense of conventional sensors with no Internet connectivity.
Additional details about the report are available at the NanoMarkets Web site.
About the Report
This report contains detailed, eight-year forecasts of sensors for the Internet-of-Things (IoT) broken out by type of application sector and type of sensor. The forecast specifically covers devices that sense light, heat, touch/pressure, motion, sound and gas/chemical. The report also examines the trends that are driving demand for IoT sensors in each major applications sector and the enabling technologies that are making deployment of IoT sensors possible.
The report also discusses the strategies of firms that NanoMarkets believes will shape the IoT sensor market including Ambient, Apple, AT&T, Ayogo, Axeda, FedEx, Freescale, GE, Ginger I/O, Google, Green Peaks, IBM, Intel, Interdigital, Invensense, Kore, Linquet, M2O, Microsoft, Nokia, OnStar, Orange, Ouya, QualComm, Red Pine, Rogers, Sensinode, Sony, Valve and Xi3.
From the Report:
- IoT sensors will become ubiquitous, but the market will be dominated by residential and commercial building automation and the "Industrial Internet." In 2018, NanoMarkets says that these applications will account for more than 90 percent of the market. NanoMarkets sees especially rapid growth in sensors for the Industrial Internet which will help control industrial processes and smart objects in industrial environments. But some of the most hyped applications—gaming and healthcare, in particular—have limited growth and market size potential. For example, annual healthcare expenditures on IoT sensors will not grow beyond $400 million during the coming decade.
- NanoMarkets believes that a major opportunity exists to create cost-effective means of bringing legacy sensor networks online with a major opportunity for wireless sensor hubs which will generate revenues of $1.24 billion by 2018. Commercially successful hubs will also need to be IPv6 Internet gateways, since few sensor devices directly support Internet protocols as yet. Even when sensor devices begin to include security, context, localization and data context functions, it will be some time before they become affordable for IoT applications.
- Automation of both commercial and residential building is where the largest revenues for IoT sensors will be generated, with commercial building automation accounting for $7.9 billion in revenues in 2018. Energy control is the "killer app" here; just 1% savings in commercial building energy costs worldwide would amount to some US $62bn in savings through 2020. Building automation markets—especially the residential segment—need plug-and-play, convenience (on par with entertainment experiences) and the ability to use smartphones as controllers.
NanoMarkets tracks and analyzes emerging markets in energy, electronics and other areas created by developments in advanced materials. The firm is the recognized leader in industry analysis and forecasts for the sensors industry.
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