M2M will be 'key area of interest' of IT buyers and sellers in 2014, says Frost
Machine-to-machine (M2M) communications, also known as the Internet of Things (IoT), will be a "key area of interest for IT buyers and sellers" next year, predicts Andrew Milroy, vice president of ICT practice with Frost & Sullivan Asia Pacific.
Low cost sensors, cloud computing, advanced data analytics and mobility are driving the surge in IoT activity, particularly in the automotive, healthcare and manufacturing industries.
"Numerous opportunities will emerge as more and more data is generated by machines than human beings. These include the ability to analyze and use vast amounts of data, to store data and source application functionality in/from the cloud, to create, manage and support apps that enable the operation and management of IoT implementations and to provide high speed connectivity between objects and the people, who work with them and use them," says Milroy.
In the healthcare sector, Frost & Sullivan expects the increasing use of technology to mobilize scarce resources and improve efficiency.
"Healthcare providers are now looking for measurable ROIs [returns on investment] on their investments. Technology areas demanded by providers include knowledge and tools to support better patient outcomes, improvements in workflow efficiency and healthcare service mobility," says Rhenu Bhuller, senior vice president of healthcare practice at Frost & Sullivan Asia Pacific.
In the automotive sector, Frost & Sullivan predicts that cloud computing will be increasingly used in vehicle applications, such as location-based services, vehicle-to-vehicle communications, social networking and home energy management.
This presents an opportunity for information and communications technology companies to collaborate with auto manufacturers to "transform the industry," concludes Frost.
- see Frost's release