The machine-to-machine market (M2M) is one of the fastest growing tech businesses in the world and is expected to be able to top $31 billion by the end of 2016, according to industry insider ABI Research. One of the many reasons why M2M revenue is looking to increase quite quickly over next few years is the way the industry has managed to adapt to what its users need. What is really going to drive the industry going forward is value added services for things such as applicationdevelopment and systems integrations.
M2M practice director, Dan Shey recently talkedabout how the industry is changing the focus of their goals. “No one size fits all. Operator choices to capture the burgeoning M2M services market will be dependent not only on the value of their assets and VAS platforms, but also their partnerships and target market verticals.”
Companies that are focusing on M2M technologies need to figure out what potential customers are looking for and deliver those devices and technology in areas that are going to see great growth. One of the ways that the market is taking full advantage of its capabilities is when it comes to mobile alert systems for security programs.
ABI Research seems to believe that the way companies will make real money is to adjust the way they approach their contracts. A company that has versatility is going to have more success when it comes to the emerging market than one that has locked themselves into one direction.
Companies that understand that Value Added Services (VAS) can actually bring them a boon in several different areas and will also be able to adapt their approach quicker. The number of different applications and solutions that are being created for VAS companies is only going to be increasing as revenue increase. The M2M market is set to explode and companies that utilize VAS will be at the top of the heap.
Edited by Brooke Neuman