Connected cars will be 20% of the global market by 2019, predicts Juniper Research
Jul 13, 2015 • News • Connected cars • M2M • Research • big data • smart meters • telematics
Technology analysts Juniper Research are forecasting that in revenue terms the telematics sector will continue to outperform all other M2M markets over the next five years, with one in five passenger vehicles connected globally by 2019. Connected cars will represent 20% of the global car market by 2019, the company predicts.
Smartphone-based models have become the key disruptor for M2M, as sectors such as healthcare, consumer electronics and retail continue to evolve. Juniper Research forecasts that the M2M sector will generate service revenues of over $40 billion globally by 2019 - doubling the size of today’s market.
Smart metering to see global growth
The new research, M2M & Embedded Devices: Strategic Analysis & Vertical Market Forecasts 2015-2019, observed that the roll-out of smart metering initiatives will see rapid up-take over the next six years, driven in part by governments’ ambitions to increase efficiency.
The utility sector, however, is not expected to generate similar revenues to that of the connected automotive sector.
The utility sector however is not expected to generate similar revenues to that of the connected automotive sector.
Mergers, acquisitions, new applications
Agriculture and environmental applications are starting to emerge as important new sectors in the M2M market, with applications as diverse as wild-life and farm animal monitoring, and increasing productivity through precise field mapping. Some of the industry’s most powerful players are coming together, such as the merger of KORE Telematics and Raco Wireless, and the acquisition by Huawei of the M2M technology start-up Neul.
Other key findings include:
- The US remains the leading geographical region for M2M, ahead of Western Europe. China is becoming increasingly important as initiatives by the country’s major carriers begin to take shape.
- Implementation of Big Data analytics will play an increasingly important role, particularly in areas such as telematics, smart metering and healthcare.
Key questions, says Juniper are:
- Which market verticals hold the greatest promise in terms of service and connectivity enablement revenues?
- What are the prospects for cellular-based M2M modules?
- How are smartphones and Big Data playing a role in the M2M universe, and how will these devices and technologies affect the M2M market moving forward?
- How is the API landscape developing and what role does it play?
- How will the IoT and the M2M universe interrelate with one another?
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