This week was uncharacteristically slow for the embedded M2M solutions industry, but that's not all that odd considering New Year’s Day was Tuesday. Still, though, there were still a couple stories of note, including a global Internet of Things (IoT) market forecast for the next four years, and a new partnership between two Singapore-based companies that may bring M2M marketing to the next level.
MarketsandMarkets released its market research report, entitled “Internet of Things & Machine-To-Machine Communication Market,” which states that the IoT and M2M communication market will be worth $290 billion by 2017. By contrast, the market was only worth an estimated $44 billion in 2011. Furthermore, the market is expected to increase at an estimated CAGR of 30.1 percent between 2012 and 2017.
Key market drivers identified in the report include government initiatives and ubiquitous connectivity. The report also identified the Middle East and Latin America as two regions with high market opportunities for IoT, which has a lot to do with the rising adoption of new standards and technologies in smart cities and smart homes.
As for the above mentioned partnership, the two participating companies are Sprooki and YFind, which have unveiled the YFind Positioning System (YPS) working in tandem with the Sprooki marketing application. YPS more or less acts as an indoor equivalent of GPS since, just as GPS uses satellite signals to locate the position of a GPS receiver, YPS uses Wi-Fi signals to determine the position of a mobile device.
Sprooki helps retailers schedule promotions, sales, offers and events so, when combined with YPS, Sprooki can help retailers market products based on their movements within, say, a shopping mall. This leads to more personalized marketing based on the type of clothing, shoes or facial products a consumer visits most.
That's all for this week. Be sure to stay tuned to the Embedded M2M Solutions Channel for more news in this sector.
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