M2M(Machine To Machine)Harnessing
the Power of Connected World.
The
business world is currently moving into an era of ubiquitous connectivity,
which is transforming the operating styles and communication channels of an
enterprise. Machine to machine (M2M) communications a solution that allows
automated communication between connected devices over a wireless network, has
aided enterprises in their progress to ascertain constant connectivity and real
time monitoring of assets at a relatively lower cost. Compared to other
wireless solutions, M2M provides a seamless mode of monitoring enterprise’s resources, be it either people or machines, to
provide real time information on critical business workflow and thereby
increasing the efficiency manifold through constant data analytics. With this
increasing need for connectivity, M2M solutions are being favored by several
industry sectors such as healthcare, retail, utilities, banking, insurance,
manufacturing, and automotive. The retail sector for instance, is one of the
emerging verticals, which is extensively utilizing M2M, ranging from inventory
management to supply chain automation.
M2M
solutions help in maintaining well-stocked stores with advance solution using
item level tagging for faster checkout from store, building smart stores
consistent with purchasing trends and buyer preference in a smart community. In
correlation, M2M is used in the logistics industry for better vehicle
monitoring mechanisms and in the e-commerce/“click-to-buy”
segment to enable quicker delivery times and tracking of shipments. Fleet
management coupled with real time video monitoring solutions are seen as
another emerging M2M application in the logistic vertical.
Vehicle tracking solution
enables recovery of stolen vehicles and identification of vehicles used in
theft or other illegal activities, usage based insurance aiding the adoption of
tracking and monitoring solutions deployed by insurance companies to supervise
the usage of insured vehicles, asset tracking used in tracking packages as they
are transported either to the final end users or along the supply chain, are
some of the key areas that have promoted M2M usage in the automotive and the
transport sectors.
Healthcare is another vertical where instances of niche
M2M deployments have been witnessed. Some of the areas where connected devices
have transformed the healthcare service provisioning are real time patient
monitoring, home healthcare support, vehicle-to-vehicle communications
enhancing emergency and ambulance services, managing and tracking of medical
assets to monitor assets in the field. These examples stand as testimonies that
M2M is revolutionizing the communication landscape among enterprises.
In
addition to the growing inherent necessities for M2M solutions amongst enterprises,regulatory initiatives and
stipulations in several industry verticals are acting as a key driver in
promoting the usage of M2M solutions for efficient operations and delivery of
services. For instance, Restructured Accelerated Power Development and Reforms
Program (R-APDRP) mandating the usage of Automatic Meter Reading (AMR)
solutions in the Utilities sector is one example of such initiatives. Similarly,
financial inclusion mandates from the Reserve Bank of India have favored the
usage of handheld devices for door step insurance premium collection and
validation of bio-metric information in remote ATMs and rural branches.
With the Internet of Things (IoT)
becoming a global trend and a variety of things ranging from furniture, windows
in a smart home to complex chicaneries expected to be connected in the future,
Frost & Sullivan predicts that there will be an explosion in the number of
connected devices by 2020 in India. This explosion in connected devices
and the evolution of IoT to IoE (Internet of Everything) is expected to drive
the usage of M2M solutions significantly as it is the right solution that
matches the enterprises’ needs to equip them and harness the benefits of
connected devices.
In conclusion, M2M is expected
to witness the immense traction of the near future as it facilitates
enterprises to enhance their business operation through data collection and
analytics and thereby improve productivity and customer experiences.
Bussiness Insider
Albert Yang.
Date: 15-07-2019
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