Machine-to-Machine (M2M) is rapidly changing how we interact and work.
The technology has already made its mark and is set to continue growing exponentially, with the global M2M sector predicted to reach 200 billion USD in revenue by 2020.Industries such as the automobile and smart home markets are already tapping into this technology today, while a huge range of other industries are just waking up to the vast opportunities it offers.
This year and the next few ones are going to be exciting times for M2M. Read on to explore the five biggest M2M trends to watch out this year and beyond:
- 1. 5G
- 2. Tracking services
- 3. Payment terminals
- 4. Telematics
- 5. Smart farming
Instantaneous communication, reliable networks, lightning-fast download and transfer speeds—5G will revolutionise the way consumers use their smartphones and have a resounding impact across all industries.
Thanks to 5G connectivity, data transfers superior to 1 Gbit/s - and that could reach 10Gbit/s - will now become possible, while vastly reduced latency means information can be accessed from the cloud in under one millisecond. This will have a huge impact on markets around the globe, as today’s industries increasingly rely on AI, machine learning and big data to drive improvements and growth.
2. Tracking services
M2M will have an enormous impact across vehicle, trailer and freight-container tracking systems. It has been forecast that by the end of 2020, there will be 50 billion connected devices worldwide, radically transforming the transportation market on a global scale.
As the shipping industry explodes, booming commerce and trade will put an ever greater strain on operations. The benefits brought by M2M in the coming years will include enhanced visibility, improved efficiency of operations and increasingly secure infrastructure.
3. Payment terminals
Experts predict the global use of mobile payments to increase by 28% in 2022 and take over both credit cards and cash, with point-of-sale (POS) terminals evolving to meet the growing popularity of mobile wallets and in-app payments.
Starting this year, M2M will carry payment terminals into the future, thanks to super flexible POS systems, fully integrated UX and an eruption of new opportunities to meet changing purchasing behaviours.
Telematics is where telecommunications meet information processing. Thanks to M2M developments, this field will see significant growth, with more accurate data dramatically boosting productivity and allowing businesses to adapt and improve.
By the end of the year, around 150 million vehicles will be intelligently connected over a WiFi network. Get ready to see M2M enabling real-time alerts to drivers, significantly optimising delivery journeys through intelligent tracking. In addition, the enhanced visibility generated by M2M in telematics will vastly improve operational expenses, leading to more efficient engine usage, reduced mileage and a significant decrease in maintenance costs.
5. Smart farming
M2M technology isn’t just making waves across urban centres and building the smart cities of the future—it’s revolutionising the agricultural sector, too. The world population will reach 9.6 billion by 2050, and smart agriculture practices will ensure we can feed our ever-growing urban populations, with smart farming set to become a 23-million-euro industry by the end of this year.
M2M technology allows farmers to ensure maximum yields with minimum resources. How? Sensors can remotely monitor field conditions, tracking data from light, temperature and soil quality. Agricultural drones can be deployed over a vast area, optimising resource management and leading to ever more efficient and smarter farming solutions.
Prepare for change
M2M has some exciting developments in store. Some are already operational, but the best is yet to come. As intelligent communication technologies continue to improve, more and more industries are tapping into their huge advantages. With enhanced precision, greater efficiency and higher flexibility, companies across the globe are able to keep up with changes in their industry and boost their revenues while improving resource management.
Ready to find out what the future holds? Download our M2M and IoT trends for 2020 and beyond ebook or book a call with one of our M2M experts to explore how POST’s tailored end-to-end M2M solutions can ensure your company stays on the forefront of the changing global market environment. With no network steering and crystal-clear signal quality, our fully customisable services are designed to suit your company needs—whatever the environment.