The excitement is building for the upcoming 'Internet of Things,' which dangles the tantalizing image of a world where devices wirelessly communicate with one another to achieve complicated synchronized tasks. While this technology could be used for everything from proximity-activated light and heating systems to entirely automated traffic grids, the M2M market is still in it's infancy. However, according to a recent research report conducted by ReportsnReports.com, the industry is rapidly growing up with an expected 90 percent Compound Annual Growth Rate (CAGR) through the year 2020.
Such a high growth rate means that every year until 2020, the size of the market is expected to almost double in value every single year. According to the report, the wireless M2M market will be worth almost $196 billion at that point.
One reason the growth of M2M is expected to be so explosive is the simple fact that more devices allow for the control of more complex systems. Having enough M2M sensors to operate a smart home means that a user could have devices that adjust room temperature and lighting according to certain users' preferences by identifying their smartphone or wearable as it travels through the rooms. Enough M2M sensors to power a whole city has a far greater list of possibilities for automation and detection, and as more devices become available more of these uses will be discovered.
LTE networks are also expected to play a large role, as a vast array of M2M services will still utilize 2G and 3G networks despite their age. By 2020, the number of LTE powered M2M connections is expected to climb to nearly 210 million. Currently, these connections are already used in bandwidth-intensive situations like video surveillance and Wi-Fi tethering, meaning that they are likely to remain strong enough for the rest of this decade.
Evidence of the proliferation of M2M was at the forefront during this week’s M2M Evolution conference collocated with ITEXPO in Las Vegas.
During a keynote address at the event, AT&T’s VP of advanced mobility solutions, Mike Troiano said that while IoT and M2M will certainly transform the way businesses operate, it’s the business’ internal model that really defines excellence.
The show also included a special M2M Battle of the Platforms event that gave companies a chance to battle it out for the audience and showcase the cutting edge platforms that help manage and deliver M2M solutions.
Edited by Maurice Nagle