Global spending on machine-to-machine (M2M) and Internet of Things (IoT) technologies will reach nearly $250 billion by 2020, driven by vertical market applications such as connected car services, remote asset tracking, healthcare monitoring, smart metering, digital signage, home automation and intelligent buildings, according to a report from SNS Research.

The installed base of M2M connections will grow at a compound annual growth rate (CAGR) of nearly 30% between 2015 and 2020, eventually accounting for more than 10 billion connections worldwide, the report says.

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