ON World: Wireless Sensor Networks Are Defining a $Trillion IoT Market
San Diego, California (PRWEB) October 28, 2014 -- Wireless sensor networking (WSN) is one of the most disruptive and essential technologies for the Internet of Things, according to global technology research firm ON World.
Hundreds of millions of wireless sensing and control devices has changed the Internet. Within the next ten years, the IoT market will grow to billions of sensing points, transforming cloud computing infrastructure, mobile device form factors and the global information economy.
“Cloud-connected wireless sensor networks are fundamental building blocks of the Internet of Things,” says Mareca Hatler, ON World’s research director. “From remote digital oilfields to ever smarter homes, wireless sensor networks are enabling new sensing and control applications that wouldn’t exist otherwise.”
Industrial WSN early adopters have driven advances such as wireless mesh networking, power management, time synchronization, IP smart objects and energy harvesting. ON World’s recent survey with 220 industrial automation professionals found that three quarters are planning, pilot testing or deploying WSN solutions.
Smart lighting is another emerging market with dozens of startups and new entrants. Many of these are focused on wireless LED light bulbs and wireless mesh lighting control systems, smart LED drivers and IoT platforms that are support a growing number of WSN applications. The retail market is one of the fastest growing channels for residential smart wireless lighting products. According to ON World’s evaluation of 30,000 product reviews, there are over 400 wireless lighting control products with sales growing by more than 70% in the first half of 2014 compared with the same period in 2013.
The smart home has had hundreds of new entrants over the past few years. In addition, investments and acquisitions have accelerated including Icontrol Networks and Alarm.com that have each raised over $100 million in venture funds as well as Nest Labs and SmartThings that were acquired for $3 billion (Google) and $200 million (Samsung) respectively. Mobile and consumer electronics companies are creating IoT smart home platforms enabled by technologies such as WiFi, ZigBee, Thread and Bluetooth Smart.
Wearables such as smart watches, smart glasses, jewelry and health/fitness trackers are some of the largest and fastest growing WSN markets. Startups with wearables, wireless lighting controls and smart home systems are also benefiting from crowd funding sites that regularly achieve their funding goals.
In 2018, global annual revenues for WSN markets will be $102 billion when device shipments will reach 930 million at this time.
ON World’s recently published Wireless Sensor Networks Report Set includes three reports: Wireless Sensor Networks Markets, 802.15.4 & ZigBee and Mobile Sensing Wearables. Based on thousands of interviews and surveys with executives across the whole global WSN value chain, these reports include analysis and in-depth market size forecasts on 50 unique WSN market segments, competitive analysis and recent primary research with end users, vendors and suppliers.
The report synopses and free executive summaries are available from: http://www.onworld.com/wsnset
About ON World:
ON World provides global business intelligence on smart technology markets. Our market research and information services are sold to Fortune 1000 companies, startups and investors worldwide. http://www.onworld.com
Contact:
Mary Purvis
p: 858-259-2397
e: purvis(at)onworld(dot)com
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Mary Purvis, ON World, http://www.onworld.com, +1 (858) 259-2397, [email protected]
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