M-Health a Catalyst in M2M Emergence
Over the last several years, The M2M segment has seen its share of exponential growth in the number of mobile connected, Machine-to-Machine (M2M), and embedded devices. The growing trend is expected to carry over into 2014, where analysts anticipate the number of deployed M2M devices is expected to reach an estimated 412 million globally (Juniper Research).
With the recent widespread influx in mobile and M2M connected devices, there are many vertical markets that have attributed to the global emergence of M2M solutions. As the market continues to grow, more and more enterprise markets are exploring M2M verticals such as utility metering, mobile-connected buildings, consumer and commercial telemetric, and retail banking. All of these verticals will experience growth in both numbers and services revenues.
However, perhaps the most intriguing vertical to keep an eye on is the healthcare market which has gained traction and is poised for significant growth in service revenue. Many experts predict that the Healthcare market will receive the most attention. There has already been a breakthrough in the healthcare sector with the development of health, wellness, and medical apps for smart phones.
The potential of these iPhone and smart device apps are astonishing, as they harness the power and capability of replacing custom, built-units. M2M devices such as heart monitors will soon be designed specifically for M2M, while apps will be developed to link to the equipment. For instance, a ct scanner can be attached to an iPhone as an ancillary device connecting to the iPhone and an accompanying healthcare App contained on the iPhone.
To date, the device market has been saturated by hundreds of small players and competing standards. Moving forward however, the market is expected to be large, by necessity. In the next 20 years, the number of people between the age of 60 and 80 will require an enormous amount of health care. One way that they are addressing costs is through monitoring patients at home. M2M is one way to do this, starting with the Wifi networks, followed by short-range networks and eventually cellular networks.
As the number of connected devices continues to grow, the healthcare sector will see its fair share of growth in M-Health deployments, however the adoption will not happen as quickly as many predict. M-Health technology is still in its infancy stage and there is still a lot of preliminary requirements testing and evaluation that needs to be conducted before health organizations integrate M-Health applications into their regular practice, given the important nature of healthcare.
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