The global machine-to-machine (M2M) connections market size reached US$ 20.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028. The growing development of infrastructure in healthcare facilities, increasing demand for automation and effective predictive maintenance systems, and rising adoption of advanced medical devices for remote patient monitoring represent some of the key factors driving the market.
Machine-to-machine (M2M) connections refer to automated systems which involve machines or devices communicating with each other via a network without the manual assistance of humans. They comprise sensors, radio frequency identification (RFID), wireless fidelity (Wi-Fi) or cellular communications link, and autonomic computing software that is programmed to assist a network device in interpreting data and making decisions on its own. They translate data, which is capable of triggering preprogrammed and automated actions. They function by tapping into sensor data and transmitting it to a network and operating over data endpoint (DEP), communication networks, and data integration points (DIP). They help reduce costs by minimizing equipment maintenance and downtime. M2M connections also boost revenue by revealing new business opportunities for servicing products in the field. They improve customer service by proactively monitoring and servicing equipment before it malfunctions or when it is urgently needed. They are utilized in remote monitoring and integrated into warehouse management systems (WMS) and supply chain management (SCM). Furthermore, as M2M connections can send and receive small amounts of data continuously, their demand is increasing around the world.
Machine-to-Machine (M2M) Connections Market Trends:
At present, the rising demand for M2M connections, as they enable electronic appliances and other technologies to have real-time control of operations, represents one of the primary factors influencing the market positively. Besides this, there is a rise in the development of infrastructure and improvement of treatment and diagnosis methods to provide quality healthcare services to patients around the world. This, coupled with the growing adoption of advanced medical devices for remote patient monitoring purposes, is offering a favorable market outlook. In addition, the rising demand for automation and effective predictive maintenance systems in various industries to improve operational efficiency and collect real-time data is contributing to the growth of the market. Apart from this, the increasing utilization of various smart home appliances to complete household chores easily and have more control over the home environment, along with the rising installation of smart security systems to maximize home security, is propelling the growth of the market. Additionally, the growing usage of digital wallets and online payment platforms to make cashless transactions is catalyzing the demand for M2M connections.
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 at the global, regional and country level from 2023-2028. Our report has categorized the market based on connection type, technology and end use industry.
Connection Type Insights:
The report has provided a detailed breakup and analysis of the machine-to-machine (M2M) connections market based on the connection type. This includes wired and wireless. According to the report, wireless represented the largest segment.
- Serial Connection
- Power Line Connection
A detailed breakup and analysis of the machine-to-machine (M2M) connections market based on the technology has also been provided in the report. This includes serial connection, power line connection, cellular, Wi-Fi, Bluetooth, and others. According to the report, cellular accounted for the largest market share.
End Use Industry Insights:
- Consumer Electronics
A detailed breakup and analysis of the machine-to-machine (M2M) connections market based on the end use industry has also been provided in the report. This includes automotive, healthcare, consumer electronics, transportation, utilities, retail, and others. According to the report, automotive accounted for the largest market share.
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for machine-to-machine (M2M) connections. Some of the factors driving the North America machine-to-machine (M2M) connections market included the growing advancements in the medical sector, various technological advancements, rising automation of operations in warehouses, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global machine-to-machine (M2M) connections market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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., Vodafone Group Plc, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Connection Type, Technology, End Use Industry, Region
||North America, Asia Pacific, Europe, Latin America, Middle East and Africa
||United States, Canada, China, Japan, India, South Korea, Australia, Indonesia, Germany, France, United Kingdom, Italy, Spain, Russia, Brazil, Mexico
||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
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the machine-to-machine (M2M) connections market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global machine-to-machine (M2M) connections market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the machine-to-machine (M2M) connections industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.