This is according to a new report entitled “Internet of Things (IoT) and Machine-to-Machine (M2M) Worldwide Market Forecasts and Analysis (2014-2019)," which finds that this market is expected to reach $498.92 billion by 2019 at a CGAR of 24.42% for 2014 to 2019.

In order to meet all these challenges, Marketstomarkets finds that the IoT and M2M industry needs to develop new technologies with more security and the allowance of government policy to assigning the queries at one point of contact, by making the working smarter by integrating internet with machine and thus, helping to generate the revenues and profitability.

The report defines and segments the IoT and M2M market into various sub segments of technology and platform, M2M connection and modules, IoT components, applications and regions with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints of this market with insights on trends, opportunities, and challenges.

Marketsandmarkets have analysed global adoption trends, future growth potential, competitive outlook, market ecosystem, and the value chain of this market. The report analyses market sizes and revenue forecasts across different regions such as North America (NA), Europe (EU), Latin America (LA), Asia Pacific (APAC), and Middle East and Africa (MEA).

The IoT and M2M communication market is expected to grow from $128.7 billion in 2014 to $498.92 billion in 2019, at an estimated CAGR of 24.42% from 2014 to 2019. The companies such as Alcatel-Lucent (France), AT&T (U.S.), IBM (U.S.), Google (U.S.), CISCO (U.S.), Qualcomm (U.S.), Intel (U.S.), NXP Semiconductors (Netherlands), Huawei (China), and Gemalto NV (Netherlands) are the key market players.