M2M specialist Wireless Logic said growth at around 75 per cent annually, while industry estimates are for global growth of 25 per cent each year to 2014 as connections reach 225 million
M2M specialist Wireless Logic claims it is outstripping the predicted growth for the global M2M connectivity market thanks, in part, to improving vehicle tracking connections.
Wireless Logic said its sales have been boosted by the return of vehicle tracking connections to pre-recession levels, as companies find new funding channels for investment.
It said growth within the unit is around 75 per cent annually, outrunning predicted 25 per cent growth in industry M2M connections.
Sales and marketing director Phil Cole (pictured) said it is also benefiting from growth in other vertical markets beginning to adopt M2M to improve productivity and reduce costs.
Vehicle tracking accounts for 60 per cent of its connections, but e-commerce, retail, smart metering and others are becoming more important parts of its business.
Cole said: “People stopped investing in vehicle tracking. We were lucky we gained in other verticals, so we’ve not seen a slow down in business. If we can get vehicle tracking back to pre-recession levels and continue growth in other verticals then we will perform well above market growth figures this year and in the next three years.”
He added: “We’re spanning 40 different vertical markets in all sorts of weird and wonderful industries. We are getting more involved in the healthcare industry, delivering SIMs to be used to monitor diabetes patients, and in alarm and monitoring which got us through the last recession.”
Other markets Cole highlights include asset tracking beyond vehicles, wireless CCTV and wireless back-up.