Menu

M2M FEATURE NEWS

Research Predicts a 90 Percent CAGR of LTE Powered M2M Connections Market Through 2020

By Matt Paulson August 14, 2014

The excitement is building for the upcoming 'Internet of Things,' which dangles the tantalizing image of a world where devices wirelessly communicate with one another to achieve complicated synchronized tasks. While this technology could be used for everything from proximity-activated light and heating systems to entirely automated traffic grids, the M2M market is still in it's infancy. However, according to a recent research report conducted by ReportsnReports.com, the industry is rapidly growing up with an expected 90 percent Compound Annual Growth Rate (CAGR) through the year 2020.

Such a high growth rate means that every year until 2020, the size of the market is expected to almost double in value every single year. According to the report, the wireless M2M market will be worth almost $196 billion at that point.

One reason the growth of M2M is expected to be so explosive is the simple fact that more devices allow for the control of more complex systems. Having enough M2M sensors to operate a smart home means that a user could have devices that adjust room temperature and lighting according to certain users' preferences by identifying their smartphone or wearable as it travels through the rooms. Enough M2M sensors to power a whole city has a far greater list of possibilities for automation and detection, and as more devices become available more of these uses will be discovered.

LTE networks are also expected to play a large role, as a vast array of M2M services will still utilize 2G and 3G networks despite their age. By 2020, the number of LTE powered M2M connections is expected to climb to nearly 210 million. Currently, these connections are already used in bandwidth-intensive situations like video surveillance and Wi-Fi tethering, meaning that they are likely to remain strong enough for the rest of this decade.

Evidence of the proliferation of M2M was at the forefront during this week’s M2M Evolution conference collocated with ITEXPO in Las Vegas.

During a keynote address at the event, AT&T’s VP of advanced mobility solutions, Mike Troiano said that while IoT and M2M will certainly transform the way businesses operate, it’s the business’ internal model that really defines excellence.

The show also included a special M2M Battle of the Platforms event that gave companies a chance to battle it out for the audience and showcase the cutting edge platforms that help manage and deliver M2M solutions. 



Edited by Maurice Nagle

IoTevolutionworld Contributing Writer

SHARE THIS ARTICLE
Related Articles

Gemalto Launches IoT Solution to Monitor Smart Objects in Real Time

By: Ken Briodagh    2/11/2016

Gemalto, has announced the launch of its LinqUs IoT Quality of Service (QoS) offer, which the company said is a comprehensive solution to enable mobil…

Read More

SuperCom to Deliver IoT to South America for Asset Tracking

By: Ken Briodagh    2/5/2016

A key provision under several final Food Safety Modernization Act (FSMA) Rules is the idea that better tracking for food products will uncover the sou…

Read More

MultiTech and WaterBit Use IoT to Manage Agricultural Data

By: Ken Briodagh    2/5/2016

MultiTech Systems, a manufacturer of M2M and IoT devices, has announced a field trial with WaterBit, an agricultural services provider based in Sunnyv…

Read More

Greenwave Systems Gets a Financial Boost

By: Chrissie Cluney    2/2/2016

Greenwave Systems has raised a total of $60 million in its Series C financing round in two phases.

Read More

HotChange: Advancing the Medical Field Forward

By: Chrissie Cluney    2/1/2016

PNMsoft and Amedar Consulting Group have introduced and began to integrate a Business Process Management solution called HotChange.

Read More