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The global internet of things (IOT) market has been forecast to increase at a compound annual growth rate (CAGR) 30.1% over the next five years, growing from a value of $44 billion, to reach a market value of $290 billion by 2017.
The IOT and machine to machine (M2M) communications sectors are projected to be the fastest growing technology segments of the Information Technology (IT) sector in the next 3 to 5 years, with significant potential investments from companies to secure their computing environment.
This future networks will be laid out as public/private infrastructures dynamically extended and improved edge points created by the "things/objects" connecting to one another. In fact, IOT communications can take place not only among peoples but also between people and their environment.
M2M is defined as the technologies that allow machines, typically (small) computing sensors that perform specific tasks (intelligence) to communicate or relay information as needed typically over simple protocols but more recently over Internet protocols (IP) over wireless or wireline or even SMS.
But the Internet of Things is so much more than M2M. IOT it is about interacting with the objects around us; even static non-intelligent objects and augmenting such interactions with context as provided by geo-location, time and so on.
Europe, APAC, and North America regions are emerging market, whereas in Latin America and Middle East & Africa regions considered a high growth in the markets.
In 2011, Europe accounted for approximately 30% of global revenue, and is expected to grow at a CAGR of 27.4% over the next five years.
APAC and North America are estimated to contribute $92.8 billion and $56.3 billion, respectively, by 2017; at a CAGR of 33.2% and 28.3%, through to 2017.
For more information on the global internet of things market, see the latest research: Global Internet Of Things Market Report
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