Market Trends of Machine To Machine (M2M) Services Industry
Telecom Industry to Witness Significant Growth Among Other End-user Verticals
- M2M systems employ point-to-point communications between hardware, sensors, and machines across wireless or wired networks. Cellular-based M2M is added connectivity process among different sim-enabled machines to provide connectivity over multiple wireless networks. Cellular M2M value-added services are being incorporated in many enterprises to ensure operational efficiency and minimize losses associated with operational breaches.
- The cellular-based (M2M) is expected to grow during the forecast period because of the introduction of government policies, which enable wider deployment of cellular M2M in key sectors, such as utilities, smart cities, automotive, and healthcare.
- In September 2022, The Indian Institute of Technology, Delhi (IITD) and the Centre for Development of Telematics (C-DOT), the country's prominent telecom R&D facility, signed a Memorandum of Understanding (MoU) for collaboration in several telecom-related fields, including IoT/M2M, AI/ML, cyber security, and 5G and beyond technologies. C-DOT has engaged in several advanced R&D projects that have resulted in the development of a wide range of products that encompass a variety of technologies in the areas of optical, switching, wireless, security, network management, and cutting-edge telecom software applications. In partnership with local businesses, academics, and startups, C-DOT has played a key role in creating domestic 4G & 5G systems.
- This MoU attempts to build a mutually beneficial framework for R&D and academic cooperation on encouraging the design and development of entirely indigenous telecom solutions. The platform would catalyze to accelerate the development of innovative concepts into products ready for market.
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Asia-Pacific to Witness the Fastest Growth
- Asia-pacific is analyzed to grow at the highest growth rate during the forecast period owing to the adoption of digital technologies in countries such as China, India, etc. Technological advancements like IoT, AI, and Cloud contribute to market growth.
- According to a three-year plan jointly released by ten government entities in July 2021, China plans to develop 560 million 5G mobile customers by the end of 2023 and increase the penetration rate of fast wireless technology among large industrial firms to 35%. By the end of 2023, China hopes to have reached a 40 percent penetration rate of 5G among individual consumers, with 5G data making up more than half of all online traffic.
- Further, with the introduction of 5G connectivity in India, various new opportunities are developed to boost the efficiency and security of online transactions and Machine-to-Machine (M2M) transactions. Indeed, one of the primary goals of the Internet of Things (IoT) is to enable businesses to develop automated systems employing Artificial Intelligence (AI) for applications ranging from home appliance management to smart meters and traffic lights. The industry must also specify the parameters of connected technology security regarding devices, connection, secure deployment, and physical security.
- Further, government initiatives, like smart cities, smart meters, and policies, enabling a wider deployment of cellular M2M initiatives will help the M2M services market to grow.
- For instance, in February 2022, The Department of Telecom mandated all machine-to-machine service providers to register with the department to address security concerns and interface with telecom companies, among other things. With 5G on the horizon and massive development projects in the M2M/IoT sector, these rules will boost the growth of the communication sector. Additionally, this will encourage companies to create a wide range of innovative applications and solutions for the benefit of citizens.
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