Stephen Zarick, CEO, VO Group
If you are involved in Mobile technologies, then you need to understand M2M. M2M will represent the largest growth sector of mobile technologies over the next decade. M2M represents a market that will approach 7 BILLION devices. And, according to Forbes.com, as of 2013, M2M is a $24B market and predicted to reach nearly $86B by 2017.
M2M (a.k.a Internet of Things) is now “one of the fastest growing segments in technology.” M2M solutions can connect millions of devices via a shared network and the range of machines that can be interconnected is staggering. Devices like vending machines, heart monitors, trucks, appliances and buildings — nearly anything with sensors or software agents that can report device-specific information back to other devices or applications can be connected.
Conceptually, an M2M network is simple. It uses a sensor or other type of device to monitor activity or a status change, such as inventory levels or even an increase in radiation. The captured data is sent via an IP network (e.g. LAN, WAN, hybrid) to another device or application, which in turn can analyze the event and take further action.
What does all of this mean, aside from a huge, and rapidly growing market share and billions of dollars? M2M solutions can actually kick off tasks and execute complex instructions without human intervention, based on the data gathered.
In short, M2M is going to be a game-changer for individuals and businesses alike. What are you doing to play in this marketplace?
For further reading, please check out this post by Raj Sabhlok on Forbes.com