One of the biggest beneficiaries of the rampant growth of the Internet of Things (IoT) sector will be the semiconductors’ linked wireless sensors market.
A new study has found that the semiconductor wireless sensor networks markets, currently at US $2.7 billion, could touch a business of $12 billion worldwide by 2020. The growth has been attributed to the world moving away from wired sensor networks to wireless ones. Also, since wireless networks had a broader reach than the wired ones, it would led to a spurt in applications, some not even thought of so far, the study by WinterGreen Research announced.
In its report, Wireless Sensor Network Market Shares, Strategy, and Forecasts, Worldwide, 2014 to 2020, the research company said global semiconductor markets were poised to achieve significant growth as the semiconductor wireless sensor network would increasingly be used to implement the IoT – to monitor such infrastructure as pipelines, oil wells, and healthcare facilities.
Semiconductor wireless sensor networks are used for bridge monitoring, implementing the smart grid, implementing the Internet of Things, and monitoring for security implementation. The systems are used to implement energy savings in homes and commercial buildings, almost anything can be monitored with sensors and tracked on a smart phone.
With 9 billion devices expected to be connected to the Internet by 2014, a phenomenal growth was likely to occur when that number rose to 100 billion by 2020. The proliferation of apps on smartphones would also drive growth of semiconductor wireless sensor networks markets because the sensors worked directly as they were installed without excess labor and wiring.
You may get the report here.
Image Credit: WinterGreen Research
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