Machine to Machine Connections Market Competitive Dynamics & Global Outlook 2024

Machine to machine refers to connection between devices using certain communication channels that can be wired or wireless. Machine to machine connections are used for analyzing the measurement between mechanical or electronic devices and for transmission of automated data. Field deployed wireless devices embedded with sensors and complementary wire line access are some of the key components of a machine to machine connection system. Machine to machine technology enables networked devices to exchange information and perform actions without manual assistance of humans. Telemetry is one of the most well-known type of machine to machine connections. Machine to machine connections are also often used for remote monitoring, management of warehouses, and form an important aspect of traffic control, logistics, supply chain management and others. Machine to machine connections are built to be device or task specific and do not have a standardized connected device platform. The global machine to machine connections market is growing and maturing owing to the presence of telecom service providers, application service providers, and telecom equipment providers, and innovative revenue models presented by service providers.

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Machine to machine connection devices are being increasingly used in the healthcare sector to monitor real time vital statistics and for the provision of medication. These devices are also used on a large scale in the retail sector to gain better shopping experiences via personalized digital signage. Therefore, widespread use of machine to machine connectivity devices in the healthcare and retail sector are expected to drive the growth of the global machine to machine connections market. Advent of internet of things also plays a key role in enhancing the demand and growth of the market.

The global machine to machine connections market can be segmented based on technology, applications, end-users, and region. In terms of technology, the market can be further segmented into wired technology, wireless technology, and cellular technology. Wireless technology enabled machine to machine connectivity devices comprise in-built radios for the transmission and retrieval of data. The use of wireless technology enabled machine to machine connectivity devices ensures safe and efficient machine to machine communication in the healthcare sector, industrial sector, commercial work places, and at homes.

Based on applications, the market has been further segmented into utility companies, traffic control, telemedicine, and telemetry. Utility companies use machine to machine connections for the harvesting of energy products and billing consumers. The harvested energy products are oil, natural gas, and others and usually more than two machine to machine connectivity devices communicate with each other in a synchronized manner. Machine to machine connectivity devices in these cases are widely used in oil drilling sites to detect all the important parameters which help in indicating the presence of oil. Traffic control is a very common area of application of machine to machine connectivity devices. These devices help in monitoring speed and volume of traffic at a particular traffic control system. High end software are used for the transmission of traffic information. Further, machine to machine connections are used in telemedicine for monitoring heart conditions and correcting any errant rhythms of the heart of a heart patient. Moreover, in telemetry, machine to machine connections are used for the purpose of transmission of information over hundreds of miles. Large scale demand for oil due to increasing population and a growing automotive sector is expected to lead utility companies to acquire the largest market share over the forecast period. Owing to rapid technological improvement and development of the healthcare sector, the telemedicine application segment is anticipated to expand with the highest CAGR over the forecast period.

In terms of region, the market can be segmented into North America, Europe, Asia Pacific, Middle East &Africa, and Latin America.

Key players operating in the machine to machine connections market are Texas Instruments, Deutsche Telekom AG, AT&T Inc., Sierra Wireless, Vodafone Group PLC, Sprint Corporation, Gemalto, Intel, Telefonica, S.A, Telit Communications, Verizon Communications Inc., Cisco Systems Inc. and Jasper Technologies Inc. among others.

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