mHealth, Smart Metering, Telematics and Automation lead the way.
A new Strategy Analytics M2M Strategies report “Global M2M Connections Market Forecast & Analysis”, predicts cellular M2M connections will grow from 277 million in 2012 to 2.5 billion by 2020.
A combination of factors, including global connectivity platforms, efforts at standardization, cloud computing and regulatory initiatives will help contribute to an excess of 30% CAGR growth between now and 2020.
mHealth is a key driver in the world’s developed and developing regions, through growth in both dedicated devices and mobile handsets. Smart metering and telematics are gaining traction in markets such as China, where the “Internet of Things” has been highlighted as a key technology initiative. M2M will also play a key role in smart cities, as increasing urbanization sees major updates to infrastructure, providing a significant lift to smart energy, transportation and automation among others.
“We seem to have been at the cusp of an explosion in M2M for many years, without it being realized, but finally changes are happening that will enable the M2M market to show real growth over the forecast period”, said Andrew Brown, Director of M2M research at Strategy Analytics and author of the study.
“Carrier’s development of global connectivity platforms, efforts to standardize the M2M service layer, such as the M2M initiative, and government regulation, will all help to realize the potential of the M2M market.”
“Whether monitoring patients or smart meters, the ubiquity of mobile data combined with M2M service capabilities is enabling real world changes that help us more effectively distribute resources, as well as proactively understand the world around us,” added Kevin Burden Director of Mobility at Strategy Analytics.
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