According to new market research report “Internet of Things Market & M2M Communication by Technologies, Platforms and Services (RFID, Sensor Nodes, Gateways, Cloud Management, NFC, ZigBee, SCADA, Software Platform, System Integrators), by M2M Connections, & by IoT Components) – Global Market Forecasts – 2019”, published by MarketsandMarkets, forecasting the IoT and M2M communication Market to grow from $255.87 Billion in 2014 to $947.29 Billion in 2019, at an estimated CAGR of 29.9% from 2014 to 2019.
The Market report defines and segments the IoT and M2M market into various sub-segments of technology and platform, M2M connection and modules, IoT components, applications, and regions with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints of this market with insights on trends, opportunities, and challenges.
The Internet of Things (IoT) and Machine-to-Machine (M2M) communications are changing the thinking of the world and increasing the interconnectivity between objects and devices. It is expected that by 2020 interconnectivity among devices will be 31 billion and by 2022 there will be an increase in the use of connected devices in the family to 50 devices. The trends which is increasing the interconnectivity to simplify the complex monitoring and managing communication devices is the optimize use of cloud computing and big data. These technological trends support the backend processing and analytics required to cope with the global communication methodologies.
There has been a tremendous adoption rate of IoT and M2M in manufacturing, utilities, supply chain, retail, healthcare, residential and commercial buildings, and transportation. The scenarios which speak about the adoption usage are identification and tracking, monitoring, integration control, business analysis, early response, efficient processes, and service. The areas particularly affected by the adoption of IoT & M2M are healthcare (increase in remote patient monitoring services), agriculture (accumulation of soil analysis with environmental data and satellite), physical retail (ecommerce commerce connectivity across the manufacturer, logistic, retail, and consumer demand), and public safety and defense (help via sensor and monitoring of data).
An intelligent communication network between the devices will facilitate the seamless integration of data and information. The major IoT and M2M solution vendors have shifted their focus to the emerging markets which are growing at a rapid speed. Some of the major IoT and M2M communication solution vendors include Alcatel-Lucent (France), AT&T (U.S.), IBM (U.S.), Google (U.S.), CISCO (U.S.), Qualcomm (U.S.), Intel (U.S.), NXP Semiconductors (Netherlands), Huawei (China), and Gemalto NV (Netherlands)
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