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NanoMarkets projects that consumer-application sensors will reach $11.4 billion in revenues by 2019
By NanoMarkets 2014-12-08
In an update to their 2013 report, industry analyst firm NanoMarkets projects that the market for sensors sold for consumer applications in the Internet-of-Things (IoT) will reach $11.4 billion USD in revenues by 2019. Of this, $5.8 billion will be derived from sensor hubs.
Though NanoMarkets views the above figures as grounds for a favorable view of the industry as a whole, they warn that firms are very likely to overreach by pouring excessive investments into development and production of IoT sensors. Relatedly, they recommend that firms find methods to meet the low pricing horizon expected by consumers via revision of the process of manufacture.
NanoMarkets predicts that if IoT software firms or larger consumer-oriented firms such as Google and Cisco capture the sensor-related value in the IoT value chain, the sensor industry may find that involvement in the IoT will not substantially change their present circumstance of being suppliers of commodity products.