MarketsandMarkets Forecasts IoT, M2M Comms Market to Reach $947B in 2019

mobile, tablet, device, mobilityMarketsandMarkets has forecast an Internet of Things and machine-to-machine communications market that will grow into a $947.29 billion industry by 2019.

The projection represents a 29.9 percent compound annual growth rate from $255.87 billion in 2014, the market analyst said Monday.

The report, which highlights market trends, drivers, opportunities, restraints, future growth potential and revenue forecasts per region, suggests an industry faced with political challenges, poor demand for 2G products, a need for technology customization and deployment of old to new technology, among others.

MarketsandMarkets identified Alcatel-Lucent, AT&T, IBM, Google, Cisco, Qualcomm, Intel, NXP Semiconductors, Huawei and Gemalto NV as the key market players.

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