ON World has found that based on wireless sensor network (WSN) chipsets in use worldwide, shipments are on track to reach one billion within the next two years and 2.5 billion by 2021, the company said.
The company said wireless sensor network technologies have evolved beyond mesh networking to IP addressability, cloud system integration and low power wide area networks (LPWANs). LPWANs provide new opportunities for wireless sensing and tracking with average ranges of several miles and 10+ year battery lifetimes.
ON World said compared to its initial research published 13 years ago, wireless component costs are a fraction of what they used to be, cloud developer platforms are proliferating, open source software initiatives are growing and thousands of WSN products are available from multiple channels.
The company estimates the fastest growing WSN markets over the next five years will be wearables such as smartwatches and fitness trackers, smart homes, buildings and smart cities.
ON World´s April 2016 survey with IoT developers found the majority are developing products and services using short range WSN technologies. Thirty-nine percent of LPWAN developers are targeting new applications that are not feasible with existing technologies.
ON World provides global business intelligence on Internet of Things markets.