M2M and IoT (Machine to Machine and Internet of Things)

M2M and IoT (Machine to Machine and Internet of Things) are closely related to each other and should be considered as a concept to build prototypes which reveal a world of infinite possibilities. Machine to Machine (M2M) refers to protocols or technologies which can be used to initiate machine to machine communication. It can be done using wireless or wired systems. Internet of Things (IoT) is buzzword which describes any object or things which we can use in our day-to-day lives communicate with each other and in-turn with us using WWW or Internet. 

Industry Forecast and Market Research

According to Gartner, world’s leading information technology research and advisory company, the Internet of Things installed base will grow to 26 Billion Units By 2020. The incremental IoT supplier revenue contribution from IoT in 2020 is estimated at $309 billion. As per IT research agency, International Data Corporation (IDC), the global Internet of Things market, over a period of 6 years is expected to grow by more than $5 trillion and predicts that global IoT market would hit $7.1 trillion by 2020. Cisco’s Internet Business Solutions Group (IBSG