M2M is the acronym for ‘Machine-to-Machine,’ or otherwise understood as the platform by which devices— both wired and wireless—communicate. Businesses are increasingly using various communications platforms to connect their products for an array of reasons: network accessibility, supply line production, production surveillance, and quality control. As a result, companies that helped supply M2M needs have experienced a boom in recent years, and market analysts have been keeping a close eye on this part of the industry.
Marketing intelligence firm, VDC, focuses on machine-to-machine technologies when analyzing market data and making predictions about various products, market trends or industry outlooks. The firm’s latest data concludes that the M2M market is set to exceed $25 billion by the year 2016.
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According to a report, “VDC Research has forecasted the M2M and embedded device market is about to experience explosive growth, growing from $1.4B in 2011 to $25.9 B in 2016.” The report further notes that over three quarters of OEMs are confident that M2M products are going to help their customers increase revenue. Approximately 73 percent of OEMS reported that M2M technologies are cited as the main source of success for their company or organization.
VDC’s CEO, Mitch Solomon, said, “There isn’t a product on the market today that in the future won’t have a service component enabled by M2M. At VDC, we are thinking about near term M2M opportunities that connect one technology to another, enabling new features and benefits.”
Indeed, this is what many in the industry are referring to as the “M2M revolution” – the point at which the market will be fully dependent on M2M-based technologies. This essentially means that M2M devices or services will transfer from point-to-point sales in retail or commodity markets into all sectors of the industry that are becoming increasingly dependent on the M2M platform.
Edited by Brooke Neuman