San Antonio, Texas, USA. March 3, 2015: Compass Intelligence, which describes itself as a strategy acceleration firm, has released a new report on the Internet of Things (IoT) and machine-to-machine (M2M) market. Sensors in M2M & IoT: A Global Analysis for Growth Opportunities and Solutions is out today.
The report covers different types of sensors that are used in various vertical markets including automotive, medical, connected home, smart cities, smart grid, environmental and agriculture, industrial and others (includes energy, Oil & Gas, semiconductors, process industries such as food, pharmaceuticals, chemicals, HVAC etc.).
This study will provide insight into the growth opportunities and market size for sensors in the M2M/IoT market, namely, wireless/cellular and satellite. The study does not cover sensors used in non M2M/IoT markets or wired applications. It will also shed light on trends by type of sensors, emerging potential and taking an objective view of the significant challenges yet to be overcome for participants to enjoy the profits in M2M/IoT sensors market. More importantly, the study will also address and offer a sneak peek into the wired sensors M2M potential and untapped market opportunity.
“There are few established market participants that possess vertical domain knowledge and comprehensive product portfolio,” states Lavanya Rammohan, Sr. Analyst, M2M & IoT. “Going forward, software will play a key role in boosting sensor penetration into niche applications and create a market for smaller vendors.”
The market for sensors in M2M & IoT is estimated at US$5.2 billion in 2014 and expected to triple in size to $15.7 billion in 2019 at a CAGR of 24.7%. Automotive and smart home solutions are currently the largest markets for sensors. In the future, smart city and industrial solutions are expected to join them. Highlights from the report include:
- Automotive is the largest vertical market for sensors in M2M & IoT. In 2019, Automotive will continue to remain the largest but will be followed closely by connected home, industrial and smart city solutions.
- Emerging & Wireless sensors are a small portion of the market today. However, with falling prices in sensors and increasing number of M2M & IoT connections over wireless networks, emerging & wireless sensor share will grow rapidly.
- Emerging opportunities for M2M & IoT will take shape over the next couple of years. These include Geological mapping, precision agriculture & medical.
- Market leaders such as GE, Honeywell, Emerson, etc. will continue to dominate the industry. However, niche players will emerge for different vertical markets or applications that will challenge industry dynamics.
