Chip market for wireless sensor networks on 23% CAGR
That’s twice as many as the estimate from Cisco Systems Inc., which has been widely used by proponents of the Internet of Things (IoT). Radiant’s figure represents a compound annual growth rate (CAGR) over the period of about 50 percent. It also four times higher than the 26 billion figure estimated by Gartner.
But as a result of this explosion of connectivity the worldwide market for chips supplying wireless sensor networks is set to grow from $2.7 billion in 2013 and reach $12 billion by 2020. This is a CAGR over the period of 23 percent.
Radiant predicts that wireless sensor networks will be used to monitor and control very many domestic, urban and industrial systems. As such this promises to produce an explosion of data much of which will be discarded as users are overwhelmed by the volume. As a result analysis of the data at within the wireless sensor network will become necessary so that alerts and meaningful information are generated at the leaf nodes.
The change from wired networks to wireless networks will add to the growth as wireless networks can have a broader reach than wired networks and are more flexible and extensible.
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