According to the study, the rise in the use of 3G technology and the introduction of Long Term Evolution (LTE) services will drive market growth.
However, the market’s M2M platform integration sector in which service providers use to manage multiple services and solutions using a single app will rise significantly. The growth of the sector will leverage the development of new cellular M2M connections and services.
[quote] More importantly, the energy and utilities segment is predicted to dominate M2M connections and services sector comprising of the consumer electronics, automotive, healthcare and the transport and logistics segments as end-users.
Factors such as the deployment of intelligent grid management and smart meters will augment the market growth rate of this segment during the predicted period, states a Technavio press release.
On the other hand, the mobile VoIP (mVoIP) market consisting of video sharing, screen and file sharing, video and voice calls and instant messaging, will also experience a rapid increase to reach a 28% during the forecasted period.
Amit Sharma, ICT research analysts at Technavio, commented: “The deployment of such systems will clearly represent the penetration level of LTE systems and will account for the upsurge that can be expected in the global mVoIP market over the next four years.”
LTE tech developments
The release of the report follows a mid-February partnership announcement between US telecoms AT&T and Nokia for the development of a new LTE network to improve US utilities’ grid networks.
Under the partnership, AT&T is providing its spectrum solution for integration with Nokia’s LTE technology to provide utilities with grid network coverage during times and locations that their own networks cannot.
According to the two telecoms, the solution will support allocation functions at substations, renewable energy sources coupled with supervision of remote devices and advanced metering infrastructure (AMI) solutions.
Once development of the technology is completed by Q2 2016, the two will assist utilities in migrating their wireless devices and AMI systems to the solution.
The LTE solution will function on AT&T’s licensed spectrum to help utilities set up their own Field Area Networks, reported Zacks Equity Research.
Image credit: vimeo.com.