Businesses Turning to Internet of Things to Get a Leg up on Competition
For the report, Infonetics surveyed medium and large businesses about their plans for M2M services
Feb. 17, 2014 02:15 PM
Market research firm Infonetics Research released excerpts from its just-published M2M Strategies by Vertical: North American Enterprise Survey, which provides a view of the machine-to-machine (M2M) market - also known as the Internet of Things (IoT) - through the eyes of businesses using or planning to use M2M solutions.
For the report, Infonetics surveyed medium and large businesses about their plans for M2M services, which allow wireless and wired systems to communicate with devices that collect and provide data for analysis. Some examples of how organizations are utilizing M2M connections today include:
- Transport companies equipping their fleets with connected devices that monitor driver speed, location, and other data to maximize safety and efficiency
- Automobile makers manufacturing "connected cars" that enhance the driving experience by providing fuel saving tips, custom music, rear-seat infotainment, automatic crash notification, young driver tracking, etc.
- "Smart cities" and municipalities more efficiently monitoring public infrastructure, such as roadways and bridges, to better manage and reduce traffic
- "Connected hospitals" more effectively observing patient conditions (vital signs, location, etc.), pharmacy inventory, and medical device tracking
- Manufacturing plants linking together key assets and systems to monitor and maximize production and maintain inventory
- "Smart utilities" connecting meter reading devices to better manage resources such as electricity and water
Infonetics' latest M2M strategies report explores the drivers, barriers, plans, and service provider selection criteria of enterprises from 5 industries: automotive and logistics; utility; retail; healthcare; and public safety and surveillance.
Select M2M Survey Highlights
- A majority of enterprises surveyed expect the need for M2M services to increase over the coming year, validating the assumption made by the top global service providers (Vodafone, AT&T, Verizon, Orange, and Telefonica) that M2M will be a key growth area for their businesses
- Security is a top concern among respondents, as are regulatory issues and the complexity of the M2M solutions themselves, underscoring the need for customer education in these areas
- Just as it does in the smartphone world, network quality matters in M2M: According to enterprises surveyed, network quality is the top criteria for M2M service provider selection
- Not surprisingly, service providers who place a strong emphasis on network reliability and performance - namely Verizon and AT&T - also have significant mindshare in M2M