The business community today is buzzing with business jargons like B2B (Business to Business) or B2C (Business to Consumer) but what is next, right then I heard of something heading out, it was referred to as Machine2Machine (M2M), this further lead to my inquisitiveness of its potential revenue opportunities. M2M space is worth to watch for next 2 – 3 years with product vendors & service providers getting focused to ripe benefits from untapped growth potential from yet to mature M2M market. It should be interesting to get more insights on this new buzz word?
The very concept of Machine to Machine is networking of digital communication between remotely held devices. M2M Technology allows information exchange without human interference and covers range of technologies & applications which connects devices to back-end IT infrastructure. Latest developments in M2M Technologies are hinting incredible revenue growth for Communication providers. Real time data accessible from remote machines or devices is changing the way businesses operate. Major telecommunication providers are making significant investment to upgrade infrastructure to cover potential M2M markets over the next 5 years. This step is not only towards being super efficient & also towards reducing business overheads and also for additional revenue generation and improved customer satisfaction. Technological changes and cut throat competition are driving the industry interests towards M2M spreading across domains like Retail, Logistics, Transportation, Utilities, Communications, etc.
Why do this? The ultimate goal on bringing in M2M is adapting a technological solution that will help to improve customer service & loyalty. Thus, impacting revenue growth opportunities, optimized utilization of infrastructure and reduced cost through utilization of real-time information. The applications available in the market today across various industry verticals may not fully integrate business model & adapt to system requirements for M2M. Communicating Sequential Processes (CSP’s) will now have to focus on developing unique business operating models & processes powered by next generation Open Source Software or Business Support System’s Infrastructure and Billing applications to tap the potential revenue from M2M. In order to meet M2M needs, billing systems should be upgraded to support low average revenue per unit business models providing scalability & flexibility for volumes fluctuations, real time charging & billing capabilities to support a complex business model.
Source: Ezine Articles – Sandeep Monat