The machine-to-machine (M2M) industry, sometimes called “the Internet of Things,” is expected to change the world. While most of us today keep at least two Internet-connected things close at hand, the number of connections are expected to soar as Web connections begin to show up in places they have never been before: our cars, our home climate and entertainment systems and even our appliances. For this reason, the M2M industry is expected to become very lucrative and high in revenue generation.
Analyst group, Juniper Research is predicting that revenue from products and services delivered over embedded consumer electronics devices (such as those smart refrigerators we’ve been hearing about) will reach $6.4 billion in 2014, as the sector emerges as a key anchor for the M2M industry.
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So how do connected machines produce revenue? Consider e-books, which many people purchase directly off their e-readers, or music purchased directly on mobile phones. In fact, e-book sales and subscriptions will be by far the most important service offered over cellular connected consumer electronics devices, according to the Jupiter Research study.
But other types of revenue have begun to emerge, including digital photo frames and “freemium” games (games that are initially free to play, but require users to purchase in-game tools in order to ascend through the levels).
Other notable points from the study include:
For a more in-depth look at the study, visit Jupiter Research’s website.
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