Machine to Machine (M2M) market in India is estimated to grow at a CAGR of 33.81 percent over the period 2012-2016, says report from Research and Markets.
Key M2M players in India include Bharti Airtel, Idea Cellular, Tech Mahindra and Wipro.
The new income opportunities generated through the adoption of M2M technology constitute one of the key factors for this market growth, the report said. The new modes of exploring wireless connectivity into social networks and mobile commerce are enabling MNOs to bring in additional revenues to the table.
The increasing penetration of M2M technology in key business verticals of India, such as the Automobile, Healthcare, Agriculture, Home Appliances, and Retail sectors, is boosting the opportunities for MNOs, thereby driving the M2M market in India, the report said.
The M2M market in India has also been witnessing a shift from voice services to data services. However, the lack of coordination among the members of the fragmented value chain could pose a challenge to the growth of this market, it warns.
Smart meter is one of the major focus areas of M2M in India. Industry estimates say India loses approximately US$10.20 billion each year due to power thefts. As a result, India is planning to roll out smart meters in power sector.
The rising broadband penetration in India also paves way for M2M adoption. The Government of India has initiated a national fiber network for 250,000 gram panchayats for broadband connectivity. In addition, the governments have also taken other initiatives such as electronic point of sales machines, automated meter reading, and tracking devices in logistics for the welfare of the society.
