Internet of Things (IoT) and Machine-to-Machine (M2M) communication technologies offer remote device access to most if not all household appliances. This is the core common aim of both M2M and IoT solutions. However, each communication technology differs in the way they achieve remote device access. Conventional M2M solutions rely on point-to-point communications with the help of embedded hardware modules along with either wired networks or cellular networks. On the other hand, IoT relies on IP-based networks to interface device data to a middleware platform or cloud. These were the similarities and differences between IoT and M2M market
, here are important facts regarding this industry.
Fact #1 – IoT and M2M will Demonstrate Substantial Growth
The global IoT and M2M market is worth billions. Since the rise of cloud apps, sensors, and wireless networks, the global IoT and M2M market has gained a strong advantage. The global markets for Internet of Things and Machine-to-Machine communications will demonstrate a high rate of growth in the near future.
Fact #2 – Platforms and Technologies in IoT and M2M
The global Internet of Things and Machine-to-Machine market is divided by four criteria, which are technology, platforms, modules, and connections. According to technology and platforms, the market is segmented into sensor nodes, radio frequency identification (RFID), cloud management, gateways, near field communications, Zigbee, supervisory control and data acquisition (SCADA), and information and discovery services (IDS).
Fact #3 – Types of M2M and IoT Connections and Components
According to M2M connections, the market is segmented into network connections, module types, and sim-cards. On the basis of components, the IoT market is divided into network communications, RFID, security and support technology, and network communications.
Fact #4 – Applications of M2M and IoT
The IoT and M2M communications market finds its applications in several sectors. These include: Public safety and urban security, healthcare, retail, energy and power, telecom and IT, transportation, industrial and commercial buildings, consumer and residential, and manufacturing.
Fact #5 – IoT and M2M Communication Industry Drivers
The factors driving the IoT and M2M industries rely on support from governments. Government support plays a key role, as it is crucial for assigning the queries to a single point of contact and making the work smarter by integrating Internet and machines, which will generate more revenues and profitability.
Fact #5 – Developed Companies are leading the Market
Currently, the U.S. and the U.K. are the largest markets for technologies such as Machine to Machine. This can be attributed to the high technical awareness and technological advancements in these countries. Europe is also following a similar trend.
Fact #6 – Top Key Companies in the Industry
The global industry of the IoT and M2M market is dominated by key players such as Alcatel-Lucent S.A. (France), Huawei Technologies Co. Ltd. (China), Cisco Systems, Inc. (U.S.), Gemalto NV (Netherlands), Google Inc. (U.S.), IBM (U.S.), and Intel Corporation.
Fact #7 – Growth Opportunities for Existing Players and New Entrants
The established companies and new entrants in the IoT and M2M communication industry will benefit from the potential opportunities presented by new technological ideas and deployment of innovative devices.
Fact #8 – Factors Suppressing IoT and M2M Communication Industry
The global market for IoT and M2M communication will be suppressed by factors such as unfavorable governance and phasing out of 2G technology. In addition, customization of technology and sense of security for all the data available and accessible through the Internet will further inhibit the growth of the market.
To overcome these challenges, the Internet of Things and Machine-to-Machine market needs to develop and implement cost-effective and robust technology-enabled devices which possess superior integrating abilities on multiple platforms.