The global number of cellular M2M subscribers increased by 23 percent this year to reach 265.2 million, according to a new research report from the analyst firm, Berg Insight. Over the next five years, the installed base of cellular M2M devices is projected to grow at a CAGR of 22.9 percent and is expected to hit 1 billion in 2022.
As the cellular M2M market continues to grow, it is starting to generate substantial revenues for leading telecom operator groups, said Berg Insight. Verizon and Vodafone reported quarterly M2M/IoT revenues in the range of € 150–200 million each in the first half of this year and could be on track to reach € 1 billion on an annual basis within a few years’ time.
Another major trend is the consumerization of medical-grade mHealth devices and apps. In the last few months of 2015, Berg Insight points out that hundreds of thousands of consumers have connected medical monitoring devices via their smartphones to cloud platforms. This marks a substantial shift that will open up new opportunities in the remote patient monitoring market in the coming years.
Lars Kurkinen, Senior Analyst at Berg Insight
These are very exciting times for everyone involved in the industry. mHealth solutions are approaching mainstream market acceptance and we are now very close to the tipping point.