Revenue from M2M connections to double in next four years

The number of enterprise cellular M2M connections is set to triple by 2015, according to a report from the Yankee Group.

The group forecasts that enterprise cellular M2M connections worldwide will surge from 81.8 million in 2011 to nearly 217.5 million in 2015. In the same time frame, connectivity revenue will more than double from US$3.1bn to $6.7bn, making the M2M market one of the highest growth areas in the wireless arena during the next decade.

The forecast covers ten M2M market segments: fleet management; industrial applications; security; consumer telematics; ATM, kiosk and point of sale; m-health; connected energy; digital signage; pay-as-you-drive insurance; and rent-to-own and subprime lending applications.

Enterprises seeking to cut costs will drive steady growth in fleet management and ATM, vending and point-of-sale applications. Applications that cut fuel costs, curtail menial tasks and improve work force efficiency will resonate with enterprises. The Yankee Group predicts a strong CAGR of 17 per cent in these segments.

Asian markets will significantly close the gap with other regions by 2015. Overall connections in Asia-Pacific countries will grow to 67 million – a CAGR of 30 per cent – led by strong growth in China, Korea and Japan.

Connected energy and m-health represent massive potential markets over the long term, says the report. As utilities increase cooperation with carriers, the use of cellular technology for smart grid and smart metering projects will begin to increase more dramatically in 2014 and 2015. While m-health has generated buzz in recent months, the report says a dearth of business models and regulatory hurdles may hamper the short-term proliferation of stand-alone cellular devices.

“Falling hardware prices and the increased availability of end-to-end solutions have established a more accessible M2M market for enterprises around the world,” said John Keough, Yankee Group research associate and creator of the forecast.

“As early adopters trumpet the success of their deployments, enterprises are turning out in droves to explore how their organisations can profit from M2M technology.”

RECENT ARTICLES

Quantinuum raises US$300m in equity funding

Posted on: April 18, 2024

Honeywell has announced the closing of a US$300 million equity fundraise for Quantinuum at a pre-money valuation of US$5bn. The round is anchored by Quantinuum’s partner JPMorgan Chase, with additional participation from Mitsui, Amgen and Honeywell, which remains the company’s majority shareholder. This investment brings the total capital raised by Quantinuum since inception to approximately

Read more

ITRI and Arm launch new SystemReady Lab in Taipei to boost AIoT industry

Posted on: April 18, 2024

ITRI has established the ITRI・Arm SystemReady Lab in Taipei, in partnership with Arm. This certification centre is the fourth of its kind globally, following the ones in the United States, Europe and India. The lab combines ITRI’s R&D strengths with the Arm SystemReady compliance programme to deliver comprehensive certification services for the AIoT industry. This

Read more
FEATURED IoT STORIES

What is IoT? A Beginner’s Guide

Posted on: April 5, 2023

What is IoT? IoT, or the Internet of Things, refers to the connection of everyday objects, or “things,” to the internet, allowing them to collect, transmit, and share data. This interconnected network of devices transforms previously “dumb” objects, such as toasters or security cameras, into smart devices that can interact with each other and their

Read more

The IoT Adoption Boom – Everything You Need to Know

Posted on: September 28, 2022

In an age when we seem to go through technology boom after technology boom, it’s hard to imagine one sticking out. However, IoT adoption, or the Internet of Things adoption, is leading the charge to dominate the next decade’s discussion around business IT. Below, we’ll discuss the current boom, what’s driving it, where it’s going,

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more