Research and Markets has announced the addition of the “Global M2M Market 2012-2016” report to their offering.
One of the key factors contributing to this market growth is the falling price of M2M devices and M2M services. The Global M2M market has also been witnessing the increasing adoption of M2M services across industries. However, the challenges of M2M device integration could pose a challenge to the growth of this market.
The key vendors dominating this market space are Sierra Wireless Inc., Gemalto N.V. (Cinterion), Telit Wireless Solutions Inc., and SIMCom Wireless Solutions Co. Ltd.
Commenting on the report, an analyst from TechNavio’s Hardware team said:
“M2M services are widely adopted in various industries such as Healthcare, Retail, Manufacturing, Logistics, and Energy.”
“In the Retail industry, RFID codes are used to enable product identification and tracking. Similarly, for fleet management, location-based services help in enabling public safety and security services efficiently. In the Healthcare industry, M2M chips are used to identify the area of ailment and to track it. The Manufacturing industry is increasingly using M2M sensors as it helps track and manage the inventory. Likewise, many other industries are adopting M2M services as a means to improve their operational efficiencies. Hence, the increasing adoption of M2M services across various industries will contribute to the growth of the market.”
According to the report, one of the main growth drivers is the falling price of M2M devices and services. As a result of the intense competition among the market vendors, the cost of M2M devices and services has declined drastically.