Jay Clemens
RnR Market Research has projected the Internet of Things and machine-to-machine communication market to grow 24.42 percent in value to $498.92 billion in 2019 from $128.7 billion in 2014.
The March 2014 worldwide market forecast projects that a trillion interconnected devices will hit the market by 2025 and demand for sensors, wireless networks and cloud apps will rise as well, RnR Market Research said Monday.
The market research firm divided the IoT and M2M market research report into technology and platform, M2M connection and modules, IoT components, applications and regions.
RnR Market Research analyzed revenues, adoption trends worldwide, growth potential, key drivers, competitive landscape, opportunities and emerging technologies.
The report listed government-driven technology and ubiquitous connectivity as key drivers of the IoT and M2M communications market and governance, privacy and security, standards, deployment of IPV6, phase-out of 2G technology and custom centralization of data as major restraints.
