The M2M market is expected to witness considerable growth owing to surging demand across several application areas including healthcare, automotive, utilities, consumer electronics and retail. Smartphone proliferation and emergence of cloud computing is also expected to favorably impact market growth over the forecast period. The M2M market has gained substantial significance as a source of connections growth for mobile operators worldwide. Additionally, increased demand across the IT & telecom sector is expected to drive market growth substantially. M2M is gaining popularity as the technology allows data or information transfer on the condition of physical devices and assets to remote locations for effective control and monitoring. Additionally, factors including network accessibility, the need to improve core business processes, enhancing revenue streams are also expected positively impact market growth over the forecast period. Regulatory mandates across several regions or countries are emphasizing on expediting M2M adoption. For instance, smart meter/smart home adoption has been driven by green initiatives and driving pattern monitoring by the insurance industry in developed countries. In recent times, prices of platforms, end devices, network operators along with connectivity costs are declining, owing to which M2M solutions will become established and more mainstream.
Although M2M growth projections are high, the related ecosystem is unable to keep up its pace with the complex technology requirements, which may pose a challenge to M2M market growth. Furthermore, the market is highly fragmented and the standardization levels are low. Key industry participants include Atmel Corp., Cisco Systems Inc., Infineon Technologies AG and Schneider Electric. Companies focus on offering an integrated M2M solution to clients as part of their growth strategy.
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