Internet of Things: Businesses Invest Heavily in Machine To Machine (M2M) Communication

first_imgThe Internet of Things (IoT) encompasses a broad set of technologies.  One facet of IoT is Machine to Machine (M2M), a technology that allows machines to connect to and to exchange data among themselves.  A recent Vodafone survey of M2M technology found that 27 percent of businesses globally have started to use some type of M2M technology to improve their businesses.Much of the data communicated by machines is done via cellular services.  Examples of M2M devices include meters, home security devices, connected cars, healthcare monitors  and vending machines.  More recent examples of how and where M2M is being deployed are for digital signage, remote patient monitoring and contactless payments.  Healthcare, utilities and automotive, transportation, logistics, public safety, retail, and consumer electronics industries are all using M2M.Other findings of the Vodafone M2M report include:81 percent of businesses using M2M expect to increase their investment59 percent of businesses using M2M report a significant return on investment83 percent of businesses see M2M as a source of competitive advantage A separate report by Market Research Store found that just one segment, the Health M2M market, is expected to grow at an annual rate of 33 percent over the next five years.Michele Mackenzie, principal analyst at Analsys Mason, said that “there are compelling examples of cost savings.  Positive impacts on customer retention and the ability to unlock new revenue streams are also cited as tangible benefits that continue to drive investment in M2M.”Cellular M2M connectivity services that are benefiting from this trend to M2M include AT&T, China Telecom, EE, KT, Sprint, Verizon and Vodafone.last_img