The market for power sources used in the...
The market for power sources used in the Internet of Things will grow from $57 million in 2014 to $590 million in four years and to more than $2.4 billion by 2021, said a report from NanoMarkets (http://bit.ly/1wEkHDu). Products that…
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have had niche success so far -- thin-film and printed batteries, energy harvesting modules, flexible photovoltaic panels and thermoelectric sources -- could generate “hundreds of millions of dollars” in revenue annually through IoT, it said. Mobile phones currently account for most of the $57.1 million thin-film and printed battery market, but smart cards, semiconductors/computing and wearables are each expected to grow into hundred-million-dollar battery markets by the end of the decade, NanoMarkets said. Other growth opportunities in IoT power include inductive power sources -- used almost exclusively in wireless chargers now -- which approach $5 million in current annual revenue but are forecast to pass $100 million revenue by 2018, jumping to $760 million by 2021, it said. The growth driver will be increased adoption of RFID tags, a segment forecast to hit a $100 million market by 2019 and $583 million by 2021, it said. While energy-harvesting power sources are a $7 million market through 2015, they're expected to spike to $41.5 million in 2016 on “rapid uptake” for sensors and networks, NanoMarkets said. Growth for energy-harvesting devices will pick up, increasing to $161 million by 2018 and $557 million by 2021, it said. Revenue for wearables power sources is forecast to accelerate from “next to nothing” today to $82 million in 2018 and $200 million by 2021, it said.