Machine to Machine Connections Market is driven by the escalated adoption of the internet of things or IoT has enhanced the market growth
New York US, Sept. 27, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “M2M Connections Market, By Product, Technology, End Users, and Region- Forecast to 2030”, the market is anticipated to acquire a valuation of approximately USD 54.2 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 5.40% during the assessment timeframe.
M2M Connections Market Overview:
M2M refers to "Machine to Machine." It explains any such technology allowing networked devices to interact with human intervention. In other terms, communication is carried out from one machine to another. An M2M connection is a connection between two gadgets without human interaction. It enables two devices to communicate independently. The machine-to-machine (M2M) connections market allows users to convert industry sectors and creates various opportunities for the vendors of M2M connections worldwide. The global market for machine-to-machine connections has been overgrown in the last few years.
The list of prominent players across the M2M connections market connections includes companies such as:
Intel Corporation (U.S.)
Deutsche Telekom A G (Germany)
NTT Data (Japan)
Vodafone Group PLC (U.K.)
U-Blox Holding AG (Switzerland)
AT&T Inc. (U.S)
Telenor Group (Norway)
Telit Communications (U.K.)
Verizon Communications, Inc. (U.S)
Gemalto N.V. (Netherlands)
Texas Instruments Incorporated (U.S.)
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Along with the development of the M2M connections market, the Internet of things (IoT) is witnessing massive growth in the global market. The Internet of things primarily consists of human and computer-connected observations and machines interacting, transforming machine-to-machine (M2M) connections to market growth. The developments of the IoT in examining and operating on the resulting big data explosion have also caused a rise in the M2M connections market growth.
Furthermore, the short-range technology is anticipated to lead the growth of the M2M connections market over the coming years. Such technologies, such as Wi-Fi, mainly interact with these machine-to-machine communication devices. The primary industry sector WWAN is the automotive industry, including tracking, pay-as-you-drive insurance, e-call, and security.
Revenue forecast in 2030
USD 54.2 Billion
CAGR of 5.40 % from 2022 to 2030
Key Market Opportunities
Increased Adoption of Machine-to-Machine (M2M) Services
Key Market Drivers
The developments in the Internet of things help in analyzing and working on the resulting big data explosion
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Market USP Covered
The global machine-to-machine connections market has overgrown in the last few years owing to the factors such as escalated adoption of the Internet of things and growing cellular connections.
On the other hand, certain limitations may impede the market's growth.
The global health crisis in the form of COVID-19 has had a significant impact on the majority of the market areas across the globe. Like all other market areas, the global machine-to-machine (M2M) connections market has also faced several unexpected challenges. On the other hand., with all the global financial and industrial activities returning to normal, the M2M connections market is anticipated to exhibit substantial growth over the review timeframe.
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M2M Connections Market Segment Analysis
Among all the technologies, the wireless segment is predicted to dominate the M2M connections market over the forecasted period. The segment is predicted to witness the maximum CGAR over the assessment era. The primary factor causing an upsurge in the segment's growth is the rising adoption of short-range wireless connectivity technologies such as ZigBee, Bluetooth, and Wi-Fi for several applications such as smart appliances, wireless beacons, in-car infotainment systems, and patient monitoring devices. Furthermore, the significant penetration of cellular services across the globe and the rising implementation of 4G/LTE cellular technology is also projected to catalyze the segment's growth over the coming years.
Among all the end-use sectors, the automotive and transportation segment is predicted to hold the leading position across the M2M connections market during the assessment era. The soaring number of linked cars and the growth of vehicle-to-vehicle and vehicle-to-infrastructure framework is the primary aspect causing an expansion in the segment's development. Furthermore, the clear regularity mandates for the adoption of smart grids & smart meters and the development of smart city projects are anticipated to catalyze the growth of the segment over the coming years. on the other hand, and the utility segment is predicted to record the maximum CAGR over the assessment era.
Machine-to-Machine Connections Market Regional Analysis
The global market for machine-to-machine (M2M) connections is analyzed across five major regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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The MRFR research reports suggest that the North American region is anticipated to secure the top position across the M2M connections market over the assessment timeframe. The total revenues share for the regional market is nearly 35 percent by the connectivity provision, and the service wrap describes approximately 65 percent of the machine-to-machine services revenue. The region the U.S. is the leading growth contributor across the region.
The European region's machine-to-machine (M2M) connections market is predicted to witness substantial growth over the review era. The presence of the leading market players across the region, such as Vodafone and Deutsch Telekom, is the central aspect surging the growth of the regional market.
The Asia-Pacific regional machine-to-machine (M2M) connections market is anticipated to exhibit the maximum CAGR over the coming years. the major factor supporting the growth of the regional market is the growing Internet penetration across residential and commercial spaces. Furthermore, the growing disposable income across the region is another prime aspect causing an upsurge in the regional market over the coming years. In addition, the expanding I.T. infrastructure is also predicted to catalyze the regional market's growth over the coming years.
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