28 January 2019
Technology has changed this way we communicate, and the world is becoming increasingly connected. Thanks to mobile phones and the rise of social media, people find it easier and quicker to communicate with friends, family and colleagues.
However, the arrival of M2M technology and IoT has resulted in billions of devices and machines becoming more and more connected. In this article, we’ll give you the complete overview on M2M and IoT so you can understand what they are, the difference between them, why M2M is important and how it will benefit your business.
What is IoT?
The Internet of Things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and the ability to transfer data over a network, without requiring human-to-human or human-to-computer interaction.
What is M2M?
Machine-to-machine (M2M) is a broad label that can be used to describe any technology that enables networked devices to exchange information and perform actions without the manual assistance of humans.
Why is M2M important?
M2M is becoming a global opportunity – telematics and vehicle tracking alone offer an immeasurable range of unique business possibilities. Even in 2017, it was reported that over 20 billion autonomous connected devices existed (Zest4 and Arkessa, 2018). However, by 2020, it is predicted…
Therefore, it will become impossible for businesses to ignore the importance of M2M and the role it plays within the wider business world.
How can M2M benefit my business?
M2M can be used in a multitude of sectors including construction, utilities, transport and logistics, retail and farming to name a few. It can also benefit companies which employ field or lone workers.
In summary, M2M devices can provide the following:
- Smart Asset Tracking of vehicles, plant hire and lone workers
- Monitoring e.g. water levels of warehouses and vending machines
- Controlling e.g. air conditioning, lighting for stadiums and theatres
71% of respondents say M2M is about developing new business opportunitiesZDNet and TechRepublic; M2M: Hype or Transformative Tech
Indeed, the value of M2M can also be seen as a way to drive customer engagement and cost savings, as well as identify potential new revenue streams due to the amount of accurate, real-time data you can receive immediately. This enables businesses to utilise that data to, for example, identify usage patterns or problems and be able to respond quickly and efficiently. This can help deliver excellent customer service whilst minimising operation costs as much as possible.
It’s clear to see the impact M2M is already having on businesses is, to say the least, vast and it will be exciting to see its promising future unfold.