The growth of machine-to-machine (M2M) connections will be nothing short of remarkable over the next deacem according to the latest industry projections.
A new study from Strategy Analytics – “M2M Connections by Industry Vertical and Bandwidth” – predicts M2M connections will grow from 368 million in 2013 to 2.9 billion by 2022.
Of those connections, we’re told, 78 percent will be on 3G or faster networks by 2022.
Key factors such as M2M platform evolution, application and analytics developments, regulation as well as the creation of new business opportunities and avoiding obsolescence are all factors driving M2M to an expected growth in connections of 23 percent CAGR growth between 2013 and 2022.
“Regulation has always been a key driver pushing M2M forward, whether it’s the emergence of the ACA (Obamacare), or smart metering initiatives in Europe or China,” asserts Andrew Brown, Director of Enterprise and M2M research at Strategy Analytics.
Brown is also the author of the study.
“However,” he adds, “it is also the investment from industrial giants like GE and pressure from ‘kick-starter-funded’ companies pursuing ‘over-the-top’ initiatives for the ‘Internet of Things’ that are providing the impetus and competition that will also help customers find an increasing range of relevant, tailored solutions.”