Machine-to-Machine (M2M) Connections Market Size, Trends | Forecast 2023-2028

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) is a technology that allows a network of devices to share and exchange information and perform tasks without the manual assistance of humans. It employs sensors, radio frequency identification (RFID), Wi-Fi, and cellular communication links to capture data fed through networks and provide critical input to various machines. It operates over data endpoint (DEP), communication networks, and data integration point (DIP), which mainly schedules data transfers. M2M helps reduce costs by minimizing equipment maintenance and downtime, increases revenue by providing new business opportunities for servicing products, and improves customer service by monitoring and servicing equipment before it fails or needs maintenance. As a result, it is widely adopted across the healthcare, utilities, and banking, financial services, and insurance (BFSI) sectors.

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What are the growth prospects and trends in the machine-to-machine (M2M) connections industry?

The increasing proliferation of wireless devices, such as smartphones, tablets, laptops, and smart speakers, and the easy access to high-speed internet through cellular networks or short-range networks like Wi-Fi are primarily driving the global M2M connections market growth. Besides this, increasing automation across various industrial verticals and the escalating demand for effective predictive maintenance systems for real-time collection of data and continuous analysis of equipment conditions are presenting remunerative growth opportunities for the market. Moreover, the increasing demand for smart grids due to the rising development of smart cities, rapid urbanization, inflating disposable income of individuals, and surging demand for smart homes and connected devices, is creating a positive outlook for the market expansion.

In addition to this, M2M connections are extensively used across the healthcare sector in various medical devices to diagnose and treat different health conditions, which is favoring the market growth. This is further influenced by the growing prevalence of numerous chronic diseases, significant improvements in the healthcare infrastructure, and rising demand for remote patient monitoring. Furthermore, the large-scale product adoption across the utility sector for harvesting energy (oil and gas), analyzing worksite conditions (like pressure, temperature, and equipment status), and automatically billing customers' electricity or water usage is aiding in market expansion. Looking forward, the market value is projected to reach US$ 26.6 Billion by 2028, expanding at a CAGR of 5.1% during 2023-2028.

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:

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

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