The smart car sector will continue to outperform all other connected devices over the next five years, in revenue terms, with one in five passenger vehicles connected globally by 2019m, according to new research. The study, from Juniper Research, indicates that smartphone-based vehicles have become the key disruptor for the internet of things market (defined […]
The smart car sector will continue to outperform all other connected devices over the next five years, in revenue terms, with one in five passenger vehicles connected globally by 2019m, according to new research.
The study, from Juniper Research, indicates that smartphone-based vehicles have become the key disruptor for the internet of things market (defined as machine-to-machine technology, or M2M), as sectors such as healthcare, consumer electronics and retail continue to evolve.
Juniper Research forecasts that the M2M sector will generate service revenues of over $40 billion globally by 2019 – doubling the size of today’s market.
Smart metering to see global growth
The new research, M2M & Embedded Devices: Strategic Analysis & Vertical Market Forecasts 2015-2019, observed that the roll-out of smart metering initiatives will see rapid up-take over the next six years, driven in part by governments’ ambitions to increase efficiency.
According to research author Anthony Cox, “Both India and China are expected to see rapid adoption of smart metering as new metering infrastructure is installed and smart cities are created.”
The utility sector however is not expected to generate similar revenues to that of the connected automotive sector.
Mergers, acquisitions, new applications
Agriculture and environmental applications are starting to emerge as important new sectors in the M2M market, with applications as diverse as wild-life and farm animal monitoring, and increasing productivity through precise field mapping. M&&A is also beginning to bring together some of the industry’s most powerful players, such as the merger of KORE Telematics and Raco Wireless, and the acquisition by Huawei of the M2M technology start-up Neul.
Other key findings include:
1. The US remains the leading geographical region for M2M, ahead of Western Europe. China is becoming increasingly important as initiatives by the Country’s major carriers begin to take shape.
2. Implementation of Big Data analytics will play an increasingly important role, particularly in areas such as telematics, smart metering and healthcare.
The whitepaper, M2M ~ In an IoT World is available to download from the Juniper Research website together with details of the new research and interactive dataset.
