The Nordic region is outpacing the global average in terms of M2M revenue growth and penetration, TeliaSonera announced this week, presenting the results of a new study.

"The Nordics are outgrowing the global market by 100%," said Hans Dahlberg, vice president and head of M2M services at TeliaSonera, speaking at a press event in Barcelona.

The region will see annual revenue growth of 30% over the coming years, roughly twice as fast as the global market, to reach €6.1 billion by 2017, TeliaSonera predicts, based on a study it carried out in conjunction with Arthur D Little. Total connections across the four markets in the region will reach 70 million by the same date.

At present 15% of all mobile connections in the Nordics are M2M, compared with a global average of around 3%, Dahlberg said, citing figures from Machina Research.

Strong fixed broadband and mobile penetration and usage, a readiness to adopt new technologies, and a stable regulatory environment makes the Nordics a "perfect playground for M2M," Dahlberg said.

Sweden is the largest market and is expected to generate revenues of €2 billion by 2017 or almost a third of the region's total.

Finland is the most mature with 1.22 "connected things" per person. The market was driven in no small part by an early deployment of smart meters. Norway will see smart meters rolled out this year, which will help it to become a €1.7 billion market by 2017. Denmark is the smallest, accounting for €1.4 billion in revenues by 2017.

Dahlberg identified three segments that will outgrow the others: automotive, healthcare and consumer devices.

M2M and the Internet of Things (IoT), a key theme of this year's Mobile World Congress, will change the way people live and work, Dahlberg said.

"[We are seeing] very good growth in this area," he said. "We will put even more resources into this area over time."