Machine to Machine Market: Immense Popularity of IoT To Spur The Market Growth

22-Aug-2018 | Zion Market Research

Machine to Machine refers to a direct interaction between the devices that makes use of either wired or wireless communication channels. This concept gave rise to new technologies such as Internet of Things. Data transmission from one appliance to another is the key application of machine to machine communication. Acceptance of machine to machine technologies is rapid across plethora of industries as it consumes less energy and makes IP networking facility easily available to its end-users.

A suite of machine to machine connections witnessed across all the domains, including healthcare, consumer electronics, transportation, and automotive sectors, are projected to drive the growth of machine to machine market over the years to come. Enhanced popularity of wireless connectivity enabled devices, such as patient health monitoring equipment, wireless beacons, and mobile point of sale equipment are likely to succor machine to machine market expansion.

Reportedly, machine to machine communication technology helps an individual during commuting and shopping activities. It also assists state authorities in effectively handling traffic management issues and determination of weather forecasts. Experts claim that a strategic partnership between the service providers and system integrators or firms providing networking services is forecast to result in escalation of machine to machine activities.

However, lack of standardized practices witnessed across network connectivity is likely to hinder the growth of machine to machine market. Data privacy & security is yet another issue that can tremendously impact the market progression over the coming years.

Nevertheless, researchers have claimed that machine to machine market has created lucrative avenues for service providers across the business verticals such as connected technology. The business has the massive growth potential as it can boost the IoT connectivity across the globe. Humungous application of vehicle tracking equipment, smart meters, light sensors, and GPS devices are likely to promote the development of machine to machine market in the near future.

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