Machine To Machine Market

Machine to Machine M2M Market valued at USD 25,291.1 Million in 2022 and is anticipated to reach USD 36,242.8 Million in 2030 and is predicted to grow at 4.6% CAGR during 2023-2030.

Introduction of the Global Machine To Machine M2M Market Report

Machine to Machine (M2M) communication refers to the data communication technology that connects remote machines using the internet and does not necessarily require human intervention in the process of communication. M2M technology relies on software-controlled communication between machines for exchanging information and performing actions without human assistance. The major components of an M2M system includes sensors, RFID, a cellular or Wi-Fi communication link, and autonomous computing software programmed to help a network device in interpreting data and make decisions.

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Market Dynamic

Key Drivers and Emerging Trends

The global Machine to Machine M2M market is expected to grow at a significant CAGR during the forecast period. This can be primarily attributed to the increasing industrialization and growing penetration of the Internet connectivity, and rising adoption of industrial IoT for several applications including predictive and remote maintenance, industrial security systems, manufacturing equipment monitoring, asset tracking and smart logistics, and energy consumption optimization among others. Additionally, rapid adoption of new technologies such as 4G/LTE, machine learning, the internet of things (IoT), cloud computing, and artificial intelligence in various industry verticals including manufacturing, automotive, healthcare, transport and logistics, and defence among others is further propelling the growth of the market. Moreover, manufacturing companies are increasingly adopting M2M technology owing to the rising focus on production reduction, resource optimization, operating costs and energy efficiency.  This is anticipated to contribute to the growth of the market during the forecast period. Furthermore, increasing software application integration for product enhancements, growing need for data reliability and efficiency, rising trend of embedded communications systems in industrial automation is expected to provide huge growth opportunities to the M2M market over the forecast period.

Restraints in the Global Machine To Machine M2M Market

High cost of installation and maintenance of Machine to Machine M2M systems are the major factors that may hamper the growth of the market. Moreover, lack of standardization in connectivity protocols is further anticipated to restraint the growth of the market during the forecast period.

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Technology – Segment Analysis

Based on technology, the cellular connections segment is expected to lead the machine to machine market over the forecast period owing to various advantages of cellular connection technology that includes extensive coverage, flexibility in connectivity, cost effectiveness, remote management, security, and reduced interference from other signals. Moreover, rising adoption of 3G, LTE and 5G mobile technologies and increasing application of cellular M2M in asset tracking for transportation fleets, keyless locking systems for cars, and bikes, car entertainment, and video surveillance are further stimulating the market growth.

End-Use Industry – Segment Analysis

On the basis of end-use industry, the automotive industry segment is projected to grow at a higher CAGR during the forecast period. This can be attributed to various application of M2M in the automotive sector including production line machine monitoring, vehicle tracking, fleet management, logistics management, smart parking, asset tracking, intelligent transportation system management, drive process automation, and contactless payments. In addition, the rising automotive industry, growing number of electronic vehicles and connected cars is anticipated to drive the growth of the market.

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Regional – Segment Analysis:

Based on the Region, Asia-Pacific region is anticipated to dominate the Machine to Machine M2M market during the forecast period owing to the growing penetration of the Internet across the residential, commercial, and industrial spaces in the region. Presence of several leading M2M vendors such as Vodafone, Singapore Telecommunications (SingTel), Orange Business Services, Telit Communication Plc, Deutsche Teleko, and Wipro Limited are further contributing to the growth of the market in the region. On the other hand, North America is projected to grow at a faster CAGR in the market owing to the rapid economic development and surge in the application of M2M technology in intelligent heating and connected security in smart homes in the region. According to the National Council For Home Safety and Security, 47% of millennials in U.S. have smart home products in their homes and the smart house market will approach 40 billion USD in the U.S by 2020. This factor is likely to escalate the market growth in the region.

Top Market Players

Various notable players operating in the market include International Business Machines Corp., Cisco Systems, Inc., Huawei Technologies Co., Ltd., Intel Corporation, Rogers Communications Inc., Cstar Technologies Inc., Comarch SA, Thales Group, Infosys Limited, and T-Mobile USA, Inc., among others.

Key Developments:

• • In 2020, T-Mobile US Inc. completed its merger with Sprint Corporation. The parent of the combined company is T-Mobile US, Inc., and the combined company will operate under the name T-Mobile. The T-Mobile will be focused on delivering a transformative 5G network with better service at a lower prices
  • In 2019, Nokia Corporation partnered with Pöyry, an international consulting and engineering company, and Infosys, one of the leading next-generation digital services and consulting company, to enhance and accelerate the adoption of KRTI 4.0(TM), an artificial intelligence (AI) framework for operational excellence. The KRTI 4.0(TM) framework applies AI, cognitive/machine learning, and machine-to-machine (M2M) capabilities to the industrial environment and addresses complex and expensive lifecycle management challenges faced by industry, utilities, transportation and infrastructure organizations across operational technology (OT) systems.

Segments Covered in the Report:

The global Machine to Machine M2M market has been segmented on the basis of technology, end-use industry, and regions. Based on technology, the market is segmented into cellular connections, low power wide area, short range, man, wide area fixed, and satellite. Based on end-use industry, the market is segmented into retail sector, banking and financial institution, telecom & it industry, healthcare, automotive, oil & gas, transportation, and others. 

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Key questions answered in this research report:

• • At what pace is global Machine To Machine M2M market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Machine To Machine M2M market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Machine To Machine M2M market?
  • Which technology generated maximum revenues in 2019 and identify the most promising technology during the forecast period?
  • What are the various end-use industries of global Machine To Machine M2M market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Machine To Machine M2M Market by Technology

• • Cellular Connections
  • Low Power Wide Area
  • Short Range
  • MAN
  • Wide Area Fixed
  • Satellite

Global Machine To Machine M2M Market by End-use Industry

• • Retail Sector
  • Banking and Financial Institution
  • Telecom & IT Industry
  • Healthcare
  • Automotive
  • Oil & Gas
  • Transportation
  • Others

Global Machine To Machine M2M Market by Region

• • North America Machine To Machine M2M Market (Option 1: As a part of the free 25% customization)
    • North America Market by Technology
    • North America Market by End-Use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Machine To Machine M2M Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Technology
    • Europe Market by End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Machine To Machine M2M Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Technology
    • Asia-Pacific Market by End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Machine To Machine M2M Market (Option 4: As a part of the free 25% customization)
    • • RoW Market by Technology
      • RoW Market by End-Use Industry
      • Brazil Market All-Up
      • South Africa Market All-Up
      • Saudi Arabia Market All-Up
      • UAE Market All-Up
      • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Machine To Machine M2M (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • International Business Machines Corp.
  • Cisco Systems, Inc.
  • Huawei Technologies Co., Ltd.
  • Intel Corporation
  • Rogers Communications Inc.
  • Cstar Technologies Inc.
  • Comarch SA
  • Thales Group 
  • Infosys Limited
  • T-Mobile USA, Inc.