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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Machine-to-Machine (M2M) Connections Market Outlook

The global machine-to-machine (M2M) connections market attained a value of about USD 27.34 billion in 2023. The market is further expected to grow at a CAGR of 4.5% during the forecast period of 2024-2032 to reach approximately USD 40.64 billion by 2032.

Global Machine-to-Machine (M2M) Connections Market

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Increasing Wireless Technology Applications to Spur the Market Growth

The global market for machine-to-machine (M2M) connections is being driven by the prevalence of wireless technology in various uses. Owing to the growing adoption of short-range networks like Wi-Fi and Bluetooth for applications in multiple devices, including smart medical devices, in-car entertainment systems, and smart speakers like Amazon Alexa or Google Home, are driving the market growth for M2M connections. In addition, owing to the penetration of smartphones due to rising standards of living and inflatable disposable incomes, wireless connectivity is further generating market demand for M2M connectivity with the presence of cellular networks like LTE/4G and 5G technology. Furthermore, the emergence of smart-home technology that allows remote monitoring of home appliances like lighting, heating, ventilation, and air conditioning, among others, is augmenting the market growth for wireless machine-to-machine (M2M) connections in major developed and developing countries.

Machine-to-Machine (M2M) Connections Market Segmentation

Machine-to-machine (M2M) connections refer to the ability of machines to communicate with each other independently, eliminating the need for human intervention. Software technologies like Artificial Intelligence (AI) and Machine Learning (ML) facilitate the communication between systems, allowing them to make their autonomous decisions.

Global Machine to Machine M2M Connections Market by Segment

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The market, on the basis of technology, can broadly be segmented into:

  • Wired technology
  • Wireless Technology

Wired technology can further be divided into ethernet and industrial.

The wireless technology segment can further be categorised into short range and cellular network.

Based on end user, the market can be divided into:

  • Healthcare
  • Utilities
  • Automotive and Transportation 
  • Retail
  • Consumer Electronics 
  • Security and Surveillance
  • Others

The retail segment can further be segmented into intelligent vending machines, contactless checkout/POS, and digital signage.

The EMR report looks into the regional markets of machine-to-machine (M2M) connections like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

Global Machine to Machine M2M Connections Market by Region

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Rising Applicability of M2M in Utilities Sector to Propel the Market Growth

The utility segment is anticipated to be a significant market driver of the global market for M2M connections. Utility companies often rely on M2M connection to harvest energy, such as oil and gas, detect worksite factors such as pressure, temperature, and equipment status. In addition to this, M2M technology can be utilised for billing consumers with the use of smart meters that measure the usage of electricity or water, hence impelling the market growth. Smart meters can be installed in commercial and residential settings and offer a real-time update on energy utilisation, along with the calculated fare.

Wireless connections like Wi-Fi can enable automatic data transmission, thus eliminating the need for manual meter readings. In addition, users can verify the credibility of the calculated bills by monitoring energy usage to avoid the scope of error, hence invigorating the market growth. Moreover, with the outburst of coronavirus pandemic, demand for M2M connectivity is further accelerating from the utility sector to avoid human interaction and thereby reducing the risk of infection.

Key Industry Players in the Global Machine-to-Machine (M2M) Connections Market

The report presents a detailed analysis of the following key players in the global machine-to-machine (M2M) connections market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.

  • Intel Corporation
  • Vodafone Group PLC
  • Cisco Systems Inc
  • Huawei Technologies Co., Ltd.
  • Texas Instruments Incorporated
  • Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Technology
  • End User
  • Region
Breakup by Technology
  • Wired Technology
  • Wireless Technology
Breakup by End User
  • Healthcare
  • Utilities
  • Automotive and Transportation 
  • Retail
  • Consumer Electronics 
  • Security and Surveillance
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Intel Corporation
  • Vodafone Group PLC
  • Cisco Systems Inc
  • Huawei Technologies Co., Ltd.
  • Texas Instruments Incorporated
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The global machine-to-machine (M2M) connections market attained a value of nearly USD 27.34 billion in 2023.

The market is projected to grow at a CAGR of 4.5% in the forecast period of 2024-2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 40.64 billion by 2032.

The market is being driven by the extensive applicability of wireless connectivity across various devices, rising demand from the utility sector for automatic data transmission, and increasing affordability of M2M connections.

The key trends of the market include advancements in technology, growing adoption of IoT, increasing usage in consumer electronics, and incorporation of M2M connections in security and surveillance.

The major regional markets for machine-to-machine (M2M) connections are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

The major technologies of machine-to-machine (M2M) connections are wired technology and wireless technology.

The significant end users of machine-to-machine (M2M) connections are healthcare, utilities, automotive and transportation, retail, consumer electronics, and security and surveillance, among others.

The key players in the global machine-to-machine (M2M) connections market are Intel Corporation, Vodafone Group PLC, Cisco Systems Inc, Huawei Technologies Co., Ltd., and Texas Instruments Incorporated, among others.

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C130 Sector 2 Noida, Uttar Pradesh 201301

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40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124