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The global machine-to-machine (M2M) connections market was valued at US$ 19.2 Billion in 2021.
We expect the global machine-to-machine (M2M) connections market to exhibit a CAGR of 5.3% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for machine-to-machine (M2M) connections.
The widespread adoption of M2M connections to schedule data transfers, reduce costs by minimizing equipment maintenance and downtime, boost revenue by revealing new business opportunities for servicing products, etc., is primarily driving the global machine-to-machine (M2M) connections market.
Based on the connection type, the global machine-to-machine (M2M) connections market can be segmented into wired and wireless. Currently, wireless connections hold the majority of the total market share.
Based on the technology, the global machine-to-machine (M2M) connections market has been divided into serial connection, power line connection, cellular, Wi-Fi, Bluetooth, and others. Among these, cellular technology currently exhibits a clear dominance in the market.
Based on the end use industry, the global machine-to-machine (M2M) connections market can be bifurcated into automotive, healthcare, consumer electronics, transportation, utilities, retail, and others. Currently, the automotive and transportation industries account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global machine-to-machine (M2M) connections market 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., and Vodafone Group Plc.
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