(PRWEB) July 26, 2013
According to a new market research report “Internet of Things Market & Machine-To-Machine Communication Market – Advanced Technologies, Future Cities & Adoption Trends, Roadmaps & Worldwide Forecasts (2012 – 2017)”, published by MarketsandMarkets, the Internet of Things (IoT) & Machine-To-Machine (M2M) Communications Market is expected to reach $290.0 billion by 2017 at a CAGR of 30.1% from 2012 to 2017.
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The IoT & M2M communication comprise of objects/things that are connected to the Internet, anything, anytime, anywhere. IoT & M2M communication consists of attaching sensors and devices into everyday objects/things that are connected to Internet through wired and wireless networks. Internet is a global network that connects the masses through technology. the sensors can be integrated easily in residence, workplaces and public places.
In this way, any object can be connected and can “manifest itself” over the Internet. Furthermore, in IoT, any object can be a data source. This begins to transform the way we do business, running of the public sector and day-to-day life of millions of people.
Networks, applications, middleware components, services, and endpoints will be structured. It is recognized that commercial and physical challenges will be establishing global ubiquitous network connectivity that primarily connect devices and things/objects which has inadequate ability to connect in two-way network connectivity. It is important that the architectural design for the IoT supports efficient two-way caching and data synchronization techniques, as well as network-connected endpoints for virtual representations for the connected devices and things/objects, which can be used for monitoring their location, state and condition, as well as sending requirements and directions to them.
The IoT & M2M communication is expected to grow from $44.0 billion in 2011 to $290.0 billion by 2017, at an estimated CAGR of 30.1% from 2012 to 2017. Companies such as Alcatel-Lucent S.A. (France), AT&T, Inc. (U.S.), Cisco Systems, Inc. (U.S), Intel Corporation (U.S.), IBM Corporation (U.S), Huawei (China), and Gemalto NV (Netherlands) are key market players.
The report provides in-depth analysis of various industry verticals such as public safety & urban security, retail, healthcare, energy & power, transportation, telcom & IT, consumer & residential, industrial & commercial Buildings, manufacturing, and others. Also describes the emerging trends in IoT & M2M communication market across geographies.
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MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals, including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.
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