Nordic countries are a hotspot for M2M growth, with the number of “connected things” in the region already surpassing its total population, according to new research from TeliaSonera and Arthur D. Little.
The study predicts that by 2017 there will be 2.6 connected things per person, with solutions for connecting buildings, vehicles, people and consumer gadgets all driving growth.
Indeed, TeliaSonera (Stockholm, Sweden) and Arthur D. Little expect the Nordic market to grow at an annual rate of about 30% – roughly twice as fast as the global market – to reach a market size of about €6.1 billion ($8.4 billion) by 2017.
According to the research, the Nordic countries have all the right conditions for early M2M adoption and further growth, including excellent ICT infrastructure, stable regulation and innovative players.
The report identifies seven industry segments where M2M usage is expected to grow rapidly between now and 2017, including connected buildings, connected people, connected vehicles, connected consumer gadgets, connected infrastructure, connected industrial processes and connected money.
In the connected buildings group, energy-management applications are allowing organizations to realize energy savings of up to 30%, says the report, while the connected infrastructure group has already driven take-up of M2M in the region, largely thanks to the adoption of smart meters in Sweden and Finland.
According to the research, revenues from the connected buildings market will grow from €568 million in 2012 to €1.05 billion in 2017, while those from the connected infrastructure market will increase from €279 million to €323 million over the same period.