M2M Market Expected To Hit More than $731 Billion by 2020

By Oliver VanDervoort May 28, 2014

There is little doubt that machine to machine (M2M) technology is only getting more popular day by day. The degree to which this popularity is growing is another story. Industry analyst Frost & Sullivan recently issued a new report that says connected living and M2M technologies could reach a massive $731 billion by 2020. Connected living, in particular, is using M2M technologies to integrate video, voice and data services that provide access and constant connectivity anytime and anywhere.

There have been a number of companies that have looked to take advantage of all that M2M technologies have to offer. Aubrey Willliam, head of ICT Research ANZ at Frost & Sullivan, talked about the expansion of M2M tech, saying, "Cloud computing, big data, mobility and low cost sensors are driving the internet of things and connected industries, and the internet of things is forcing transformation and innovation across the connected home, workplace and city."

While the industry analyst believes that connected living will reach more than $731 billion by 2020, connected cities will make up the largest increase with 54 percent and an estimated market potential of $392.94 billion. Connected work will make up about 31 percent of the market at the end of 2020 and connected homes will be making up the remaining 15 percent of the market and weighing in at $111 billion.

When talking about providers about the technology that is driving the connected living market, Frost & Sullivan says there isn’t one clear king of the hill. Among the groups that are looking to benefit from this growth are some companies no one has heard of outside the market.  Others are well known, such as Apple, Samsung, AT&T and IBM.

Some companies are better known for other areas in the tech sector, such as Cisco, Shoretel and Oracle. The good news for market contributors is the growth isn’t limited to one part of the world, whether talking about North America, or Australia companies are looking to take advantage of M2M growth.

Edited by Rachel Ramsey

Contributing Writer

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