WSN creates billion dollar market

April 23, 2014 by John Hatcher
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WSN creates billion dollar market

Wireless Sensor Networking (WSN) has created a multi-billion dollar Smart Energy market, according to global technology research firm ON World. Annual revenues from WSN related products and services for energy management, smart lighting and advanced metering will reach $20 billion worldwide within the next five years.

The energy sector has some of the largest and fastest growing Internet of Things markets, says Mareca Hatler, ON Worlds research director. Enabled by wireless sensor network technologies combined with cloud services and mobile apps, Smart Energy solutions are transforming global markets.

Smart Energy startups have raised almost two-thirds of the $3.4 billion in the venture capital that has been invested in WSN related products and technologies.

ON Worlds recently completed survey with over 1,000 U.S. consumers found that smart thermostats were the most popular home energy management devices followed by lighting controls and smart appliances. The survey also found that 40% of Internet connected U.S. consumers are willing to allow their utility to remotely control their energy devices if they are provided with incentives such as a free thermostat or real-time pricing plan that allows them to save on their energy costs.

By 2018, there will be 50 million smart homes and buildings enabled by WSN technologies such as ZigBee, WiFi, Bluetooth, EnOcean and Z-Wave.

Wireless Light Bulbs

The emergence of wireless enabled light bulbs and lamps has accelerated adoption of smart lighting solutions in the commercial and residential sectors. Sales of consumer LED smart lighting has increased almost 300% over the past year with the majority of these using ZigBee based systems. By 2020, there will be 100 million Internet connected wirelss light bulbs and lamps worldwide.

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