Machine to machine (M2M) and Internet of things (IoT) are becoming an essential component of the global economy and opening up a world of new ubiquity-based products and services in our homes, cars and daily lives. By 2017, 90 million people will live in smart homes and by 2020, there will be 50 billion connected devices. With the number of connected and intelligent devices escalating, the number of new services that are possible is exploding. While M2M is typically associated with a specific vertical, the Internet of things encompasses a wide variety of vertical applications that when pulled together address the needs of consumers and businesses.
M2M connections and multi-agent systems will result in an increasing number of highly personalized; value-added branded services. The latest Gartner forecast for the IoT predicts that, by 2020, there will be $309 billion in incremental revenue opportunity for IoT suppliers, mostly in services.
At MetraTech, we believe that the IoT is already having a profound impact on the creation of value-added services across a number of verticals including telco, transportation, utilities, healthcare and more. MetraTech’s business model and industry agnostic billing and settlement platform, MetraNet, enables a business to roll out IoT services to a wide variety of verticals today while making it possible to future-proof the business through new offerings and partnerships without constraint.
With MetraNet, an organization gains:
- Fast time to market for current M2M and IoT services
- Future-proofing for IoT business models
- Bundled subscriptions to new services (health monitoring, vehicle tracking, smart meters)
- Ability to expand outside core business into other verticals
- Efficient settlement to a growing ecosystem of IoT partners