The Internet of Things for the industrial markets is an exciting arena with many developing pieces that make up the whole. One thing is for sure, the market is going to be big, no matter how many sensor types are used.
In a newly released report from NanoMarkets, the firm predicts that the value of Internet-connected sensors for industrial applications is expected to grow to $20.1 billion by 2019. The report titled, “Markets for Sensors in the Industrial Internet” analyzes the markets for industrial internet sensors within manufacturing facilities, commercial and industrial real estate, the oil & gas industry, electricity grids, as well as in aerospace and smart roads and railroads.
This report also identifies and quantifies where the opportunities are for makers of these Internet-connected industrial sensors, and provides eight-year forecasts for a variety of industrial sensors types including those that detect and measure: gas and chemicals, sound, motion, light touch/pressure and heat, as well as specialized sensors used in the smart grid. The forecasts presented in this report are in both volume and value terms.
In addition, the report contains an assessment of firms that are active in the Industrial Internet sensor business. The companies covered in this report include: ABB, Alitalia, ARM, Bosch, BP, Chevron, Cisco, Eaton, Echelon, Federal Express, Freescale, GE, GM, Harley Davidson, Helsinki Bus, Honeywell, IBM, Intel, IUS, Landis + Gyr, Raytheon, Rolls-Royce, Schneider Electric, Shell, Siemens, Silver Spring Networks, Stanley, Texas Instruments, Toshiba and Virginia Smart Road.
Details of this new report can be found at: http://nanomarkets.net/market_reports/report/markets-for-sensors-in-the-industrial-internet
From the report:
More than 90 percent of Industrial Internet sensor revenues currently come from the automation of commercial and industrial buildings. Energy cost savings can be improved significantly with the real time management of HVAC and lighting that Industrial Internets can provide. The green building trend may also benefit Industrial Internets. New kinds of heat sensors may be needed to meet net-zero energy (NZE) requirements with additional sensors to support automatic shading and venting for NZE buildings. By 2019, sales of Industrial Internet sensors in the commercial/industrial building sector will reach $12.3 billion in 2019.
NanoMarkets also sees considerable potential for the Industrial Internet in the electricity grid, which we think will consume $6.3 billion by 2019. Meanwhile, factory automation using the Industrial Internet is expected to account for another $1.5 billion by that year. However, NanoMarkets believes that deployment of Industrial Internet sensors in these areas is being held back by user skepticism with regard to the reliability, latency and security that factories and power grids demand.
About NanoMarkets:
NanoMarkets tracks and analyzes emerging markets in energy, electronics and other area created by developments in advanced materials. The firm is a recognized leader in industry analysis and forecasts in a number of sectors around “smart” technology and sensors. Visit http://www.nanomarkets.net for a full listing of NanoMarkets' reports and other services.
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