Research firm ON World forecasts the market for wireless sensor network chipsets and modules to reach $10 billion by 2024 from $4.1 billion in 2018.
Key study findings include:
- Relentless advances in wireless sensor networks have resulted in billions of connected Internet of Things (IoT) devices, according to the research firm.
- There will be nearly 100 million Wi-SUN devices installed worldwide in the next few years.
- Unlicensed LPWAN technologies continue to dominate LPWAN market with adoption for private networks increasing the fastest.
- LPWAN will drive much of the growth for 270 million connected industrial IoT asset trackers within the next seven years.
Mareca Hatler, director of research at ON World, said: “More than 1 billion annual WSN chipsets were sold worldwide last year due to breakthroughs in wireless mesh networking, Low Power Wide Area Networks, multi-protocol devices, IP-addressable end nodes and cloud IoT platforms.
“Consumer WSN markets are entering early majority mass-market status and enterprise solutions continue robust growth.”
ON World predicts that short-range wireless sensor network technologies such as 802.15.4, Bluetooth Low Energy and WiFi will continue to have the biggest impact on consumer markets.
Consumer markets to be impacted include smart home, media centre, health, fitness and wearables.
Advances in low power wireless radios and wireless mesh network stacks have driven most IoT development over the past decade. Zigbee has the largest share of the wireless mesh market but IP-based protocols Thread and Wi-SUN are making up a larger portion of new product designs.
More information about ON World’s report, visit https://www.onworld.com/wsn.