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October 29, 2013

Trillions of sensors to enable $15 trillion Internet of Things market by 2020

The Trillion Sensor Summit had more than 50 presenters from around the globe shared their thinking with more than 200 executives. "This could be the biggest business in the history of electronics," Bryzek told the crowd, citing estimates from Cisco Systems and GE of a $15 trillion IoT (Internet of Things) market by 2020.

Industry giants including Amazon, Cisco, and GE are ramping up IoT services and business units. One medical electronics giant just finished a strategic plan for how it could connect its diverse systems, gathering data to create new services.

The Internet of Things is a fragmented collection of diverse markets, each with its own needs. They share a demand for sensors that cost $1 or less and consume next to zero power.





"The by-product of a trillion sensors is an abundance that will change the world for better -- we will live healthier and longer in a less polluted world," Bryzek said.

On a more personal level, Bryzek's company is preparing its own family of sensors, expected to roll out in 2014. And the entrepreneur foresees the possibility of the first billionaire in the microelectronic-mechanical systems (MEMS) in which most sensors are made.

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