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IoT to Prompt Rapid Growth in Global Sensors Market – Study

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The global sensors market is projected to generate $162.36 billion in 2019, with industrial control, smart cities and eHealth being top revenue contributors.

That’s according to Frost & Sullivan’s “Global Sensor Outlook 2016.” Driven by the Internet of Things, sensors form the cornerstone of Industry/Manufacturing 4.0, the current trend of automation and data exchange in manufacturing technologies.

Sensors are becoming highly intelligent with analytical and decision-making capability at the edge, according to Frost & Sullivan. Sensors are experiencing large-scale deployment in diverse end-user applications across verticals in standalone, integrated, combined, embedded, and more recently wearables and ingestibles.

Immediate investment focus will be on developing non-contact technologies, remote connectivity through IoT, 3D printing and improving 3D vision sensing.

Other transformative changes involving sensors include:

  • Increasing adoption of 3D sensors and their integration into monitoring systems;
  • Silicon photonics: silicon chips with integrated optics and electronics;
  • Biosensors: rapid detection devices to address gaps in health care and food safety
  • Energy harvesters: micro-energy harvesting systems that generate electrical energy from solar, vibration and thermal energy;
  • Intelligent vehicles: fully automated and driverless;
  • Bulk acoustic wave and surface acoustic wave: enabling economical industrial and consumer applications;
  • Infrastructure and sensor towers: completely automating building monitoring through new integrated sensor systems.

“These trends impact everyone in the value chain and demand a shift in strategies to survive and succeed in the dynamic marketplace,” said Rajender Thusu, sensors and instrumentation industry principal with Frost & Sullivan. “For instance, monitoring and control using the IoT platform is driving wearable sensors that provide various physiological data and enable quantified self-movement. They provide mobility, connectivity and context awareness with each other and the rest of the world. This will transform health wellness through preventive care and see increasing penetration in other vertical markets, such as industrial, sports, security, firefighting, military and security.”

Wireless sensor networks are the future of connectivity, he said.

“Sensor technology will continue to advance in terms of natural user interface, ubiquitous computing and sensory tracking,” Thusu said. “By 2025, sensors will not only be intelligent and prognostic, but also autonomous, self-healing and failsafe, paving the way for Industrial IoT.”

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