TechNavio, a tech-focused research firm, expects the Global IoT Market to reach more than triple its current value, topping $US778 billion by 2019 and growing at a CAGR of 31.72 percent from 2014-2019. Technavio via its Global Internet of Things (IoT) Market draws attention to the increasing number of smart connected devices, which are expected to surpass 17 billion in the next five years. According to Technavio, all these interconnected devices are becoming increasingly difficult to manage, monitor and maintain, which will increase the demand for M2M and M2H communication.
Additionally, the report highlights the adoption of IPv6 as another key market trend to support the rapid growth of the IoT/M2M sgment. The market research firm also identified the top 19 companies in the Global IoT Market, including big names like Alcatel-Lucent, AT&T, Cisco Systems, Ericsson, Amazon Web Service, Apple, ARM Holding, Bosch Software Innovations, Freescale, GE, Google (Nest Labs), Huawei, IBM, Intel, Microsoft, Oracle, PTC, Samsung Electronics, Qualcomm,
Faisal Ghaus, Vice President of TechNavio
M2M allows machines to interact securely over a network. In a broader way, M2M increases IT efficiency for organizations in terms of automated BPM, ERP, and streamlined CRM processes. Since M2M and the IoT are interconnected and interdependent, emergence of M2M will be a huge trend for this market through the projected period.
