High-tech analysts at Juniper Research are forecasting that the telematics sector will continue to outperform all other machine-to-machine (M2M) markets over the next five years, in revenue terms, with one in five passenger vehicles connected globally by 2019.
Smartphone-based models have become the key disruptor for 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 more than $40 billion globally by 2019 – doubling the size of today’s market.
Juniper’s new research, “M2M & Embedded Devices: Strategic Analysis & Vertical Market Forecasts 2015-‘19”, 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.
According to the study, the U.S. 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. Implementation of Big Data analytics will play an increasingly important role, particularly in areas such as telematics, smart metering and healthcare.
A whitepaper with more details, “M2M ~ In an IoT World,” is available to download from the Juniper Research website together with details of the new research.