IMARC Group, a leading market research company, has recently releases report titled “Machine-to-Machine (M2M) Connections Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global machine-to-machine (M2M) connections market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the machine-to-machine (M2M) connections market?
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.
What are machine-to-machine (M2M) connections?
Machine-to-machine (M2M) connections operate via communication networks, data endpoint (DEP), and data integration point (DIP). They help in automating the exchange of data between various technical devices with minimal manual intervention. They also assist organizations in saving costs, restoring functionality; addressing maintenance issues; and monitoring, controlling, and managing remote equipment or devices. As a result, they are combined with the Internet of Things (IoT) to serve different industry verticals.
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What are the growth prospects and trends in the machine-to-machine (M2M) connections industry?
Industrial automation, in confluence with advancements in the internet technology, are positively influencing the utilization of connected devices in several organizations. This represents one of the major factors stimulating the market growth. Moreover, M2M connections are extensively used in e-health solutions to enable remote patient monitoring, minimize healthcare costs, and improve the quality, efficiency, and flexibility of healthcare delivery. Apart from this, due to the rising traction of autonomous vehicles and smart homes, the demand for M2M connections is expected to increase.
What is included in market segmentation?
The report has segmented the market into the following categories:
Connection Type Insights:
- Wired
- Wireless
Technology Insights:
- Serial Connection
- Power Line Connection
- Cellular
- Wi-Fi
- Bluetooth
- Others
End Use Industry Insights:
- Automotive
- Healthcare
- Consumer Electronics
- Transportation
- Utilities
- Retail
- Others
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ATT 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.
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