Wearable Tech and M2M to Generate $230 Billion Worth of Returns by 2020
According to a new report, IoT service providers will have made $230 billion worth of returns by 2020 thanks to the flourishing M2M and wearable tech fusion, which has facilitated application and connectivity service provision.
The report, published on 4G-Reports.com, projects a 40% growth in Compound Annual Growth Rate (CAGR) in the wearable market between now and 2020, and puts this down to saturation in the data service market, which will force mobile operators to venture more into other avenues to maintain their revenue.
One such avenue is enabling network connectivity in M2M devices such as health care monitors, smart metres, cars etc. The report also suggests monetisation of wearable tech, which has already seen a successful takeoff recently, as another key opportunity.
There are already ‘too many’ wearables on the market today but still, according to the report, there’s enough room to accommodate thrice the number of devices there is right now, because ‘the demand is also growing’.
We may not be so sure about $230 billion worth of revenues in 5 years, but three things seem inevitable right now: terrorism, death and another startup in the wearable space tomorrow morning.