GLEN ALLEN, VA /PRNewswire/ -- Industry analyst firm 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 $13.2 billion (USD) by the year 2019, which corresponds to about 42 billion low-cost sensors shipped.
About the Report
Within the report, NanoMarkets reviews the key applications for low-cost sensors: smart packaging for consumer goods; pharmaceutical smart packaging and healthcare-related applications; interactive media and disposable electronics; lighting, including both standalone lighting control units and smart lighting systems; building automation systems; and diagnostic test strips for the monitoring of, for example, blood glucose or cholesterol levels in conjunction with an electronic meter.
Forecasts in each application are broken out by sensor type as follows: temperature sensors; humidity sensors; chemical, biochemical, or gas sensors; and pressure, motion, or other physical factor sensors. The report contains granular, eight-year forecasts for low-cost sensors, in both quantity (number of sensors shipped) and value ($ millions) terms, broken out by application and by sensor technology.
From the Report
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% per year, from $7.6 billion in 2012 to nearly $9.3 billion by 2019.
One of the fastest growing markets for low-cost sensors will be in smart packaging applications, particularly in those enabled by 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 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 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 the small penetration rate for low-cost sensors translates 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.
NanoMarkets tracks and analyzes emerging market opportunities in solid-state lighting, energy, electronics, and other markets created by developments in advanced materials. NanoMarkets has provided coverage of sensors markets as part of a larger focus on the low-cost and printed electronics markets, and in this report it shares the insights that we have garnered into the market opportunities that will emerge and grow for low-cost sensors in key application areas.