Hutchison Telecommunications Limited's (ASX:HTA) 50 per cent owned Vodafone Hutchison Australia has released the findings of a report it commissioned on machine-to-machine technology.
The technology is known as M2M and connects previously isolated machines or devises to the internet for new functionality and enhanced services without human intervention.
Vodafone says the report has shown the Australian market for machine-to-machine technologieswill be worth more than half a billion dollars in five years.
The report says the growth will be driven by the transport and logistics, retail and health care sectors. Vodafone says it is focusing on the sectors it believes have the capacity to grow significantly and to expand the company’s profile in the M2M market.
Hutchison Telecommunications reported a net loss of $79.5 million in the first half of the 2014 financial year.