While the name seems like a rather simplified term, the Internet of Things (IoT) is this pretty fantastic idea of a globally interconnected continuum of devices, objects and things in general. It is the connection of all machines, devices, sensors, automobiles, cameras, and other "things" to help us improve operations and save valuable time and even money. Move over, Star Trek. We have arrived.
The IoT holds great promise for machine-to-machine (M2M) communications. Major corporations in various industries – ranging from aerospace to oil and gas to electronics – are currently relying on M2M communications for various management tasks. Also giving M2M a big boost is 4G LTE (News - Alert) (long-term evolution), specifically in markets like the auto industry and consumer voice communications.
According to the out of band management experts at Opengear, as we require more speed to use the things that we do, the pendulum is swinging toward LTE. The shift away from M2M technologies that rely on Wi-Fi or Bluetooth are no longer relevant when it comes to “time and life critical” systems, such as medical sensors.
“In addition to fast connectivity for laptops, phones and other devices that can connect to it via a wireless hot spot, LTE service in a car provides an efficient, secure way to transmit regular reports and receive over-the-air system updates. These same attributes make it ideal for medical equipment that may become part of the IoT, even if its coverage footprint isn’t ubiquitous yet,” writes Opengear (News - Alert) blogger Pete Suriani.
Businesses in retail, power and utilities, technology and even healthcare will have to eventually go the way of IoT.
What does this mean for M2M? It means we are seeing a rise in M2M, as some of the key hardware components used in the development of M2M solution include sensors, actuators, RFID, memory, power module and communication module.
Backed by LTE, the forecast is that much more promising. Suriani cites a study from ReportsnReports, which predicts that the M2M market’s compound annual growth rate of 21 percent from 2014 to 2020, will lead “to $196 billion in revenue by 2020.”
Out-of-band management will also get a boost, as Opengear specialists can rely on LTE for failover and troubleshooting.
With M2M paired with an IoT solution, consumers can improve their everyday well-being and even save time and money in the long run, while businesses take advantage of selling new solutions, thanks to LTE and OOB.
Edited by Rory J. Thompson