Top 5 M2M Key Challenges For 2014 And Beyond
- Ecosystem: The ecosystem faces numerous implementation challenges.Existing M2M solutions are highly fragmented and dedicated only to singular applications, as a result it will slow down the development of the Global M2M Market.
- Interoperability & Capability:The interoperability between devices and machines is also difficult to achieve. Many service providers fail or are not ready to realize that not all devices communicate in the same way or “talk with the same protocols”. Neither do they have the same capabilities. It complicates and hinders the effectiveness of overall M2M.
- Industry Standard: There are many different ways to connect devices to the Internet. Generally service providers are deploying their products without considering interoperability, thinking only about how to sell devices to consumers. The lack of a global industry standard will severely hinder the effectiveness and development of M2M Globally
- Economic Model: The traditional “user pay” model does not work on end-users when it comes to M2M. For example: consumers would not be willing to pay for a medicine bottle with device-tracking capabilities and be charged 20 cents every time it is opened. Therefore an economic model must be developed that takes into account the avoided costs of service delivery otherwise there is no value proposition and consistency for consumers (or end-users). If effectiveness and development are optimal it is pretty much ineffective as a commercial incentive if operated on an analogue-age economic model
- Legal and Regulatory Challenges: M2M data collection and monitoring can lead to privacy and data security issues, bringing up concerns about the use and disclosure of the user’s personal information. Other regulatory issues involve for instance roaming. Operators collaborate with others across the globe to provide wider roaming coverage, as a result, the location of M2M devices running on these networks may not always be identified. As such, operators may not be able to comply with service level agreements stipulated by their local regulators. Additionally there are also a risk to personal information to be used to market goods and services based on an individual’s behavioral patterns and preferences. Controversially data protection regulations may help restrict the delivery of personal data to M2M. A topic one can argue for or against.