Nov 20 2014
Industry analyst firm NanoMarkets today announced the release of two papers addressing the industrial internet of things (IIoT) sensor market. The papers are based upon research conducted for a recently released report titled, "Markets for Sensors in the Industrial Internet" that was issued previously this month.
In the report the firm projected the market for sensors used in industrial internet applications to surpass revenues of $20 billion ($US) by the year 2019.
The "Industrial Internet" is a term originally coined by GE, but now widely used and embodies the concept of industrial environments that are automated using sensor networks and machine-to-machine (M2M) communications. The Industrial Internet is also closely associated with concept of the Internet-of-Things (IoT). Indeed, the Industrial Internet could be thought of as the IoT restricted to industrial situations, acknowledging that these situations have special needs. Although there is no accepted applicability of "Industrial Internet," NanoMarkets think it reasonable to assume that Industrial Internets will increasingly be found in factory automation, commercial building automation, the energy industry and public transport of various kinds.
These are different settings in many ways, but NanoMarkets believes that they are all increasingly share a need for rugged networks that connect up complex machines with the purpose of enhancing efficiency, profitability and safety. The hidden assumption behind Industrial Internet concept is that a common platform with similar sensor infrastructure could serve for these many different applications.
In the first paper, "The Growing Demand for Industrial Internet Sensors" the firm we identifies the key IIoT sensing requirements (e.g., cost, power consumption, reliability, security) and the companies we expect to assume leadership positions in delivering them, from today's big conglomerates to entrepreneurial sensor startups.
Source: http://nanomarkets.net/