Bil­lion

China Daily (Canada) - - SHANGHAI -

how much China's con­sumer elec­tron­ics mar­ket was worth

in 2015

Jeanne For­get, vice-pres­i­dent of global mar­ket­ing with Bosch Sen­sortec, added that mar­ket de­mand for in­tel­li­gent wear­able prod­ucts will reach 200 mil­lion by 2020, and the com­pany will aim to meet the grow­ing de­mands for mi­cro­elec­tro me­chan­i­cal sys­tems (MEMS) sen­sors that are re­quired in such prod­ucts.

Cur­rently the world’s largest In­ter­net econ­omy with more than 700 mil­lion smart de­vices be­ing used across the coun­try, China is a key mar­ket for Bosch Sen­sortec. Mar­ket and con­sumer in­for­ma­tion agency GfK es­ti­mated that the Chi­nese con­sumer elec­tron­ics mar­ket had hit $281 bil­lion in 2015. Bosch’s re­search and devel­op­ment team in China is its sec­ond largest.

Stefan Finkbeiner, CEO and gen­eral man­ager of Bosch Sen­sortec, said that while the smart phone in­dus­try has been the lo­co­mo­tive for sen­sor and semi­con­duc­tor in­no­va­tion over the last 10 years, the tech­nol­ogy pull will now be gen­er­ated by new de­vices re­lated to wear­ables and IoT ap­pli­ca­tions, in turn cre­at­ing a sig­nifi im­pact on sys­tem and sen­sor so­lu­tion re­quire­ments.

Ac­cord­ing to Finkbeiner, Bosch’s global plants cur­rently pro­duce 4 mil­lion MEMS sen­sors for con­sumer elec­tron­ics (75 per­cent) and au­to­mo­tive (25 per­cent) cus­tomers on a daily ba­sis, and a to­tal of 7 bil­lion MEMS sen­sors have been man­u­fac­tured and sold world­wide to date.

Deloitte es­ti­mated that 1 bil­lion wire­less IoT de­vices were shipped glob­ally in 2015, up 60 per­cent from 2014, lead­ing to an in­stalled base of 2.8 bil­lion de­vices. It also es­ti­mated that IoT-spe­cific hard­ware is likely to be worth $10 bil­lion and the as­so­ci­ated ser­vices en­abled by the de­vices worth about $70 bil­lion.

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