Here are a few numbers to keep in mind: $7.1 trillion and $19 trillion.
Both are estimates from Gartner and Cisco, respectively, for the value created by the Internet of Things by 2020. While the disparity between the estimates is vast, both would likely argue that there is a lot of profit to be made.
Internet of Things specialist InvenSense (NYSE:INVN) made its name by manufacturing MEMS sensors, such as its gyroscopes and optical image stabilizers, for mobile devices from the likes of Apple and Samsung. But focusing solely on sensors in mobile devices misses the whole picture.
Motley Fool Rule Breaker analyst Simon Erickson spoke with Behrooz Abdi, CEO of InvenSense, at International CES 2015 to better understand what growth opportunities are ahead for the company.
For a full video of the interview click here.
But I'm really excited about the diversification beyond smartphones. The theme for the company, the tag line, is now, "Sensing everything." I sometimes joke and say just about anything that moves will need one of our sensors. And that really is holding true.
I'm really stoked about immersive gaming. It's going to come in and you'll see companies like Virtuix. Drones. Platform stabilization. Automotive. Smart home with motion remote. These are all significant markets that have a myriad of sensors — not just motion — but also audio and other sensors. So, we really have a technology platform that includes sensors and software that really is proliferating into all those markets for us. We're very excited about that.