It’s now easier to connect a myriad of devices to the Internet or other networks, providing new revenue, cutting costs, and easing regulatory compliance for those that make and deploy machines.
Analysts routinely predict 30% annual growth resulting in tens of billions of dollars in the field of machine-to-machine communications (M2M), also referred to as the “Internet of Things.” Getting this word out in sectors as diverse as automotive manufacturing, energy, and healthcare is proving difficult, however.
Now, a group of technology providers, including software giant Oracle, has come together to form a global trade association that aims to send the message that M2M delivers business benefits. The International M2M Council launched last month and will begin its work by creating an index of best practices and benchmarks for crucial metrics like Total Cost of Ownership and ROI. Cost figures in M2M can be particularly difficult to estimate, given that cellular or satellite connectivity must be provided throughout the life of a product, and often involves communicating with devices around the world.
“The IMC intends to show vertical markets how M2M works and what’s in it for them. M2M is creating new business models, but many of these companies have not been involved in deploying connectivity,”
Chris Baker , Oracle’s SVP for Worldwide ISV, OEM and Java Sales, says
“M2M cuts across broad and diverse markets, and the key to evangelism success will be tapping the resources of IMC member companies.”
The IMC will track financial and management norms for M2M projects at regular intervals, giving companies that deploy M2M crucial data points to reduce risk and ease planning. To begin its work, the IMC will leverage the influence of its founding board, including providers of connectivity, hardware, software, and integration services, and comprised of Deutsche Telekom, Digi, Kore Telematics, ORBCOMM, and Telit, as well as Oracle.
The IMC will begin work on its research in Q3 of 2013, and intends to begin publishing results in Q1 2014
Free IoT White Paper