The global machine-to-machine (M2M) connections market size reached US$ 19.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.5 Billion by 2027, exhibiting a growth rate (CAGR) of 5.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Machine-to-machine (M2M) connections enable networked devices to exchange information and perform actions without the manual assistance of humans. They use sensors, radio frequency identification (RFID), Wi-Fi, and cellular communications links to capture data that is fed through networks and provide critical input to various forms of machines. They can operate over data endpoint (DEP), communication networks, and data integration point (DIP), which helps in scheduling data transfers. They assist in reducing costs by minimizing equipment maintenance and downtime, boosting revenue by revealing new business opportunities for servicing products and enhancing customer service by proactively monitoring and servicing equipment before it fails or is required.
Machine-to-Machine (M2M) Connections Market Trends:
M2M connections are widely employed in medical devices to diagnose and treat chronic conditions. This, in confluence with the increasing prevalence of chronic diseases, escalating demand for remote patient monitoring, and significant improvements in the healthcare infrastructure, are major factors bolstering the market growth. In addition, the growing demand for automation and effective predictive maintenance systems across various industries for real-time collection of data and continuous analysis of equipment conditions. Besides this, the emerging trend of smart homes and devices on account of inflating income levels and rapid urbanization are driving the demand for M2M connections around the world. Furthermore, the growing investments in the development of smart cities have catalyzed the demand for smart grids, which is creating a favorable outlook for the market. Apart from this, the integration of artificial intelligence (AI), cloud-based security, and analytical solutions is offering lucrative growth opportunities to industry players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global machine-to-machine (M2M) connections market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on region, connection type, technology, and end use industry.
Breakup by Connection Type:
Wireless connections currently dominate the market.
Breakup by Technology:
Power Line Connection
Cellular technology accounts for the majority of the total market share due to higher efficiency and improving networking capabilities.
Breakup by End Use Industry:
M2M connections find extensive application in the automotive and transportation industries.
Breakup by Region:
Middle East and Africa
North America holds the majority of the global machine-to-machine (M2M) connections market share on account of continuous technological advancements in the region.
The competitive landscape of the industry has also been examined along with the profiles of the key players being AT&T Inc., Cisco Systems Inc., Deutsche Telekom AG, Huawei Technologies Co. Ltd., Intel Corporation, Murata Manufacturing Co. Ltd., NXP Semiconductors N.V., Telefonica S.A., Texas Instruments Incorporated, U-Blox Holding AG, Verizon Communication Inc. and Vodafone Group Plc.
Key questions answered in this report:
How has the global machine-to-machine (M2M) connections market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global machine-to-machine (M2M) connections market?
What are the key regional markets?
What is the breakup of the market based on the connection type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global machine-to-machine (M2M) connections market and who are the key players?
What is the degree of competition in the industry?