M2M Technology Burgeoning Capabilities is Revolutionizing Today's World of Business

CIOReviewIndia Team | Monday, 02 March 2020, 10:29 IST

M2M

Driving productivity, decision-making capabilities, and robust intelligence, the world is heading towards industry 4.0 with advancements in next-gen technologies including Artificial Intelligence, IoT, and analytics, among others. This disruption has paved a way for a very promising market for M2M Technology.  

According to a recent report by Mordor Intelligence, the machine to machine learning market is expected to grow at GACR of 28.1 per cent during the forecast period from 2020 to 2025. Apart from the above mentioned factors, wireless and wired connectivity demand and adoption across many industries are also significantly aiding the market for M2M to propel further. Also, various products enhancements, software integration, adoption of technologies are also supporting this market’s growth. With positive market growth, however, the installation and maintenance cost of M2M technology is one of the major challenge that needs to be dealt with. Various industries including, banking and other financial institutions, telecom, IT, retail, oil and gas etc., are leveraging M2M capabilities to drive growth in their respective businesses. Here are some of the M2M Technology Trends which is set to revolutionize various segments today:

Supply Chain Management

M2M has been redefining how supply chain and transportation operations were carried out. As enhancing operational visibility and real-time information is the critical aspect for any a business, M2M has proven itself significantly effective in deriving valuable supply chain information. According to Chris Saynor, CEO at eft, “The ability to collect accurate data in real time is a vital component of a successful supply chain. M2M technology is enabling this, and allowing companies to make effective decisions. The speed of M2M adoption in the supply chain is staggering. In terms of future deployments of operation visibility technology, only GPS exceeds M2M as a medium of choice.”   

Warehouse Management

Another segment that has been positively affected by M2M Technology is Warehouse Management. This technology has revolutionized the automation process in the warehouse and has been aiding in streamlining storing and retrieval processes in Warehouse Control System. While this technology optimizes inventory, it also aids in lowering lost assets.

Security

When it concerns security, it has always been the most critical part for businesses. M2M technology comes with the ability to deliver real-time visual data from one’s security cameras, vastly improving the effectiveness of your solution; any security breaches can be confronted in no-time. Furthermore, with M2M technology implementation, cameras can traverse visual data to any site and is no longer needed to be fixed in one position.

Autonomous Automotive

One of the major driving factor for M2M segment is its growing use cases in autonomous automotive, where thise technology will help cars to communicate with each other (vehicle-to-vehicle data traffic). According the Institute of Electrical and Electronics Engineers (IEEE), Machine-to-machine (M2M) communication services is expected to play a significant role in transport, where by the year 2040, it will account to almost 75 per cent of the cars worldwide. Dr. Azim Eskandarian, IEEE Member and director of the centre for Intelligent Systems Research said “Through use of dedicated lanes on the highway, it will provide more streamlined flows of traffic, which will make the transportation with these vehicles more energy efficient,” said Dr. Azim Eskandarian, IEEE Member and director of the centre for Intelligent Systems Research.

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