M2M has come a long way since its inception. Driven by improved network technologies, advanced security solutions, and regulatory mandates, M2M products are simplifying the way processes are executed. According to the 2014 Vodafone M2M Adoption Barometer, in the next few years, the Asia Pacific region will lead global adoption rates with innovative technologies transforming industries across China, Japan, India, Korea and Australia.
The Australian M2M market in particular is at a crucial turning point, with growth expected to double to A$550 million by 2019. Small businesses are set to take up M2M services while large companies are expected to take the lead in developing innovative M2M applications. Positive sentiment towards M2M has developed quickly thanks to several successful M2M deployments in the country, many of which have enabled enterprises and governments to take huge leaps in terms of productivity and revenues. Ovum believes that M2M has moved into a new growth phase in Australia with the tide of new opportunities it brings able to have a transformative effect many industries.
Our recently released infographic provides a detailed view of the M2M trends across Australia.
In 2014, the leading sectors in M2M adoption were Consumer Electronics, Automotive, and Energy and Utilities. There is widespread use of security, smart metering, remote monitoring, and asset management applications in these verticals. The sustained growth predicted over the next few years, however, will come from the increased adoption by a wider market base that includes Transport and Logistics, and Healthcare too.
Energy and Utilities will be the clear leader with 62% of companies expected to adopt M2M solutions in the next two years. The popularity and early success of smart metering in Victoria will spread its usage in the other states. Transport and Logistics, and Healthcare, will each see 57% of companies in these sectors implementing M2M technology including widespread deployment of fleet management and telehealth applications. The Automotive sector will also gain momentum with the recent take-off of the connected car concept.
Australian markets are yet to realize the full potential of M2M, but that is changing. And although this market is largely enterprise focused today, innovative offerings in consumer segment such as the Smart Home will see increased focus in the coming years. With most consumers and households equipped with multiple mobile devices, M2M technology offers enormous opportunities in providing expanded services for enterprises and end-users alike.
You can download the full infographic here: Building a Connected Country: The Growth of M2M in Australia and let us know in the comments how M2M is taking off where you are.