Jim Morrish Principal Analyst
“The fast-evolving mobile phone environment and declining technology prices have set the stage for traditional M2M services to make the leap into the consumer space.”
The roots of the emerging ‘Internet of Things’ (IoT) market lie in industrial machine-to-machine (M2M) systems. Historically, M2M monitoring was ideally suited to asset-intensive, complex processes that were spread over relatively wide areas. As the prices of M2M communications equipment have fallen, manufacturers have installed the technology in an increasing amount of consumer energy meters (known as ‘smart meters’), and have started to add it to a range of household equipment, cars and security systems.
The IoT has yet to become a mass-market proposition. All of the technologies and tools required to create the IoT are available, and at suitably low price points, but they have yet to be pulled together in a cohesive and user-friendly package, and the necessary scale has not been achieved.