NEW YORK, United States, June 29, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Machine-To-Machine (M2M) Connections Market Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030” in its research database. According to the latest research study, the global Machine-to-Machine (M2M) Connections Market size was worth at USD 20.5 billion in 2022 and it is expected to surpass around USD 29.1 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.5% during the forecast period 2023 to 2030.
The report analyses the global Machine-to-Machine (M2M) Connections market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Machine-to-Machine (M2M) Connections industry.
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Machine-to-Machine (M2M) Connections Market Overview:
Machine-to-machine (M2M) connections are automated systems in which machines or devices communicate with one another through a network without the need for human intervention. They include sensors, RFID, wireless fidelity (Wi-Fi) or cellular communications links, and autonomic computing software, which is built to support a network device in autonomously analyzing data and making choices. They interpret data into actions that can be automated and preprogrammed. They operate through data endpoints (DEP), communication networks, and data integration points (DIP) to access sensor data and deliver it to a network. By reducing equipment maintenance and downtime, they contribute to cost savings.
M2M connections also increase income by showcasing new business opportunities for field service of devices. By proactively monitoring and maintaining equipment, they enhance customer service before it breaks down or when it is urgently needed. They are incorporated into supply chain management (SCM) and warehouse management systems (WMS) and used for remote monitoring. Additionally, M2M connections are becoming more and more popular due to their ability to continually send and receive small amounts of data.
Global Machine-to-Machine (M2M) Connections Market: Growth Factors
One of the main factors driving the machine-to-machine connections market's growth at the moment is the increased need for M2M connections, which allow electronic appliances and other technologies to manage activities in real-time. In addition, there is an increase in the building of infrastructure and the advancement of procedures for diagnosis and treatment to offer patients all over the world high-quality healthcare services. This is providing a positive market outlook, along with the expanding use of modern medical equipment for remote patient monitoring.
Additionally, the machine-to-machine connection market is expanding as a result of the growing need for automation and efficient predictive maintenance systems across a variety of sectors to increase operational effectiveness and gather real-time data. In addition, the market is expanding due to the rising installation of smart security systems to enhance home security and the growing usage of different smart home products to accomplish household tasks quickly and have more control over the home environment. The need for M2M connections is also being stimulated by the expanding use of digital wallets and online payment systems for cashless transactions.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 20.5 Billion |
| Projected Market Size in 2030 | USD 29.1 Billion |
| CAGR Growth Rate | 4.5% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | NXP Semiconductors, Texas Instruments Incorporated, Cisco, AT&T Intellectual Property, Huawei Technologies Co. Ltd, Intel Corporation, Thales Group, Vodafone Group, Murata Manufacturing Co. Ltd., U-blox, Fanstel, CommSolid GmbH, Afero., Revogi, Virscient Limited, Deutsche Telekom AG, Sierra Wireless, and T-Mobile USA, INC among others. |
| Key Segment | By Technology, By End-use Industry, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Machine-to-Machine (M2M) Connections Market Segmentation:
The global Machine-to-Machine (M2M) Connections industry is segmented based on technology, end-use industry, and region.
Based on the technology, the global market is bifurcated into wired and wireless. The wireless segment is expected to grow at the highest CAGR over the forecast period owing to the increasing use of short-range wireless connectivity technologies like Wi-Fi, Bluetooth, and ZigBee.
Based on the end-use industry, the global Machine-to-Machine (M2M) Connections industry is divided into automotive & transportation, manufacturing, healthcare, consumer electronics, utilities, retail, security & surveillance, and others. The healthcare segment is expected to hold a major share of the market over the forecast period. The growth in the segment is attributed to the use of M2M in various applications of the healthcare industry such as remote patient monitoring, telemedicine and telehealth, medical asset tracking and management, and others. For instance, remote patient monitoring involves the use of connected devices to monitor patients' health conditions remotely. M2M connections enable the seamless transmission of vital signs, patient data, and real-time alerts from wearable devices, sensors, and medical equipment to healthcare providers. This segment is driven by the need for continuous monitoring of patients with chronic conditions, reducing hospital readmissions, and improving patient outcomes. Thereby, driving the segment growth.
The global Machine-to-Machine (M2M) Connections market is segmented as follows:
By Technology
- Wired
- Wireless
By End-use Industry
- Automotive & Transportation
- Manufacturing
- Healthcare
- Consumer Electronics
- Utilities
- Retail
- Security & Surveillance
- Others
Competitive Landscape
Some of the main competitors dominating the global Machine-to-Machine (M2M) Connections market include -
- NXP Semiconductors
- Texas Instruments Incorporated
- Cisco
- AT&T Intellectual Property
- Huawei Technologies Co. Ltd
- Intel Corporation
- Thales Group
- Vodafone Group
- Murata Manufacturing Co. Ltd.
- U-blox
- Fanstel
- CommSolid GmbH
- Afero.
- Revogi
- Virscient Limited
- Deutsche Telekom AG
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Machine-to-Machine (M2M) Connections market is likely to expand at a CAGR of around 4.5% during the forecast period (2023-2030).
- In terms of revenue, the Machine-to-Machine (M2M) Connections market size was valued at around US$ 20.5 billion in 2022 and is projected to reach US$ 29.1 billion by 2030.
- The market for machine-to-machine (M2M) connections is expanding as a result of the increased use of the internet and increased attention to machine-to-machine connections worldwide.
- Based on the technology, the wireless segment is expected to grow at the highest CAGR over the forecast period.
- Based on the end-use industry, the manufacturing segment is expected to dominate the market over the forecast period.
- Based on region, North America is expected to dominate the market during the forecast period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Machine-to-Machine (M2M) Connections industry?
- What are the main driving factors propelling the Machine-to-Machine (M2M) Connections Market forward?
- What are the leading companies in the Machine-to-Machine (M2M) Connections Industry?
- What segments does the Machine-to-Machine (M2M) Connections Market cover?
- How can I receive a free copy of the Machine-to-Machine (M2M) Connections Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Technology, By End-use Industry, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
North America is expected to capture the largest machine-to-machine connection market share over the forecast period. Some of the largest telecom players, including AT&T, Verizon, Cisco, and many more, are based in the region and are constantly investing in expanding and improving their infrastructure to stay up with technological breakthroughs. Additionally, the introduction of 5G is projected to boost the growth of M2M connections throughout the projection period. According to Ericcson's Mobility Report for June 2019, the region is predicted to have close to 270 million 5G subscribers, accounting for more than 60% of mobile subscriptions. Thereby, driving the market growth in the region.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In July 2021, the privately held antenna providers Proant AB and Proant Asia Limited, with headquarters in Ume, Sweden, and Hong Kong, respectively, have been successfully acquired by Abracon, LLC, a pioneer in the passive component market. With an emphasis on wireless M2M and IoT applications, Abracon will incorporate Proant's antenna product line, which spans 150 MHz to 8 GHz.
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