According to the latest market research study from the Wireless Data Research Group (WDR) the market for hardware, software, professional and wireless network services for machine-to-machine communications will grow at a 27% compound annual growth rate, expanding from $9.3 billion in 2004 to $31 billion in 2008.
Machine-to-machine communication systems allow users to remotely monitor and control key business processes and functions via wireless-enabled devices, resulting in improved performance and enterprise efficiency from system automation and remote management in areas like plant operations, maintenance and supply chain management.
"There are now a number of wireless technologies, from very short range technology like RFID all the way up to the global satellite systems, that are readily available to integrators and adopters as solution components that address the connectivity needs of specific industries and applications with respect to distance, throughput and network robustness," said Ian McPherson, president of WDR and author of the study. "This means that companies can now do things like remotely manage their operations, track inventory or automate manufacturing processes with a much lower cost of acquisition."
Much of the current activity in M2M is around RFID and the low rate wireless sensor networks that will transform the way companies produce, track and distribute their products, thereby creating a knowledge base that can be used to refine and optimize operations.
The report provides a breakdown of the overall market by regions, finding that the Americas will be the largest geographic segment at almost $13 billion by 2008, while the network services category will be the leading growth and revenue category, exceeding $10 billion in worldwide revenue by 2008.
www.wirelessdataresearch.com/
