As businesses and consumers alike recognize the value of smartphones, tablets and other connected the devices, the market for machine-to-machine devices is expected to surge in the coming years.

According to a report from Compass Intelligence, the U.S. M2M market will experience a compound annual growth rate of 25 percent during the next four years, reaching 87 million endpoints.

Cloud computing is expected to play a major role in the market growth. The technology, which has proven hugely popular with businesses across industries, enables users to connect to hosted applications, such as productivity suites and email, from virtually anywhere. As smartphones and tablets become more popular, the cloud is also expected to pick up among consumers.

"We have entered an era where every device that can benefit from being connected via a cellular connection to the internet will be connected to the internet; and that this hyper-connectivity coupled together with emerging cloud services will propel society into new ways of interacting with the world around us," said Compass Intelligence senior strategist James Brehm.

This mobile growth will likely lead to greater adoption of tablet and mobile phone accessories, particularly those designed for Android-based devices. According to a recent report from Canalys, Android accounted for nearly half of the smartphone market in the second quarter of 2011.