The Internet of Things (IoT) and Machine-to-Machine Communication market continues to be one of the hottest topics in the electronics channel. A new report from researcher MarketsandMarkets pegs the market’s growth at a compound annual rate of 24% over the next five years, reaching $498.9 billion by 2019. The report also outlines key market segments, drivers, restraints, opportunities, and challenges in this new and growing segment.
IoT is all about connectedness—connecting people, processes, and things to the web—and it presents a wide range of opportunities for manufacturers, distributors, and makers of electronic components.
“IoT & M2M communication will bring physical business benefits like high-resolution management of resources and products, better collaboration between enterprises, and improved life-cycle management …” the report authors note, pointing to key industry verticals such as public safety and security, retail, residential markets, IT, and telecommunications.
The report analyzes global adoption trends and future growth potential, along with the competitive outlook, market ecosystem, and value chain. It also examines market size and revenue forecasts for North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa.
In other industry news:
- Arrow Electronics was named European Distributor of the Year by Honeywell Sensing and Control.
- Two experts from Avnet Electronics Marketing will be featured presenters at next week’s Freescale Technology Forum in Dallas. Strategic Solutions Architect John Weber will present design options engineers can use in board-level products to accelerate their designs based on Freescale i.MX applications processors. Global Technical Marketing Engineer Peter Fenn will discuss how to use Pmod-compatible peripheral modules to expand Freescale’s Tower System. The forum will be held April 8-11 at the Gaylord Texan Resort and Convention Center in Dallas.
- Future Electronics signed two new distribution agreements recently. The distributor will now represent Crocus Technology, developer of magnetically enhanced semiconductor technologies for mobile security, embedded microcontrollers, harsh environment electronics and magnetic sensors, and will distribute Cymbet’s entire family of EnerChip™ Smart Solid State Batteries and power management solutions in North America and South America.
- TTI, Inc. promoted Mike Wood to vice president of corporate product management and supplier marketing. Wood previously served as TTI’s director of product management.
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