Monday, November 12, 2012
Emerging opportunities for low-cost sensors
USA: NanoMarkets announced the release of its report titled "Markets for Low-Cost Sensors 2012."
In this new report, NanoMarkets analyzes the opportunities for low-cost sensors in key applications over the next eight years. The report estimates that the total market for such sensors will grow from its current value of over $8.9 billion today to $13.2 billion by 2019, which corresponds to about 42 billion low-cost sensors shipped.
* Diagnostic test strips, and blood glucose test strips in particular, will dominate the overall market. The market value of blood glucose test strips will grow at a rate of about 3 percent per year, from $7.6 billion in 2012 to nearly $9.3 billion by 2019.
* One of the fastest growing markets for low costs sensors will be in smart packaging applications, particularly in those that are enabled with sensors to monitor temperature, humidity, and various chemicals or gases in foods and personal care consumer goods. NanoMarkets expects this area to grow from its relatively modest value of about $150 million today to over $1.1 billion by the end of the forecast period in 2019.
* At the same time, applications in interactive media, advertising, and disposable electronics are also emerging as a market for low-cost sensors. The market value of low-cost sensors in these applications will grow from about $30 million today to over $160 million by 2019.
* Low-cost sensors also have a role to play in some building automation systems, which monitor and control the heating, cooling, ventilation, and even lighting of (mostly commercial) buildings using a wirelessly connected network of sensors.
Such systems seek to improve efficiency through smart-metering of demand but also may be used to improve aesthetics, comfort, security, and safety. Because of the large number of sensors per system, even small penetration rate for low-cost sensors translate into large revenues. The market value of low-cost sensors in building automation systems is expected to grow from about $245 million in 2012 to just $1 billion by the end of the forecast period in 2019.