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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.
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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 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.
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The market, on the basis of technology, can broadly be segmented into:
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:
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.
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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.
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.
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.
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:
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Breakup by Technology |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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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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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193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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