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

Kontron joins the LoRa Alliance

By: Ken Briodagh    7/26/2017

In a recent release, Kontron, a global provider of Embedded Computing Technology, has announced that it has become a member of the LoRa Alliance.

Read More

Webinar: Making Strategic Hardware Choices in a Saturated IoT Module Market

By: Ken Briodagh    7/12/2017

If you trying to make sense of all the different hardware choices for your cellular-based IoT solution, an upcoming webinar entitled "Embedded Modules…

Read More

IoT Evolution Speakers: Robert Lutz Speaks Out

By: Ken Briodagh    7/12/2017

We reached out to our speakers and asked them for a preview for their sessions to give you a little taste of what to expect at IoT Evolution Expo.

Read More

Libelium Integrates Axis Communications for IoT Gateway

By: Chrissie Cluney    7/11/2017

Is your company hoping to be a part of the IoT ecosystem with easy streaming access?

Read More

u-blox Announces Tiny LTE Multimode Module for IoT

By: Ken Briodagh    7/10/2017

u-blox Announces World's Smallest LTE Cat M1/NB1 Multimode Module with Global Support for IoT and M2M Applications.

Read More