The new report by Expert Market Research titled, ‘Global Machine-to-Machine (M2M) Connections Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global machine-to-machine (M2M) connections market, assessing the market based on its segments like technology, end user, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 23.96 Billion
- Forecast CAGR (2021-2026): 5%
- Forecast Market Size (2026):USD 31.21 Billion
The increasing machine-to-machine connections in various industries and the growing adoption of new connectivity technologies are expected to accelerate the growth of the machine-to-machine (M2M) connections market in the forecast period. The increasing adoption of short-range wireless connectivity technologies such as Wi-Fi, Bluetooth, and ZigBee for multiple applications such as in-car infotainment systems, smart speakers like Amazon Alexa or Google Home, patient monitoring devices, wireless beacons, and smart appliances are driving the growth of the market for the wireless technology segment. 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. The market is expected to be fueled by an increase in demand for extended network coverage and rising software application integration for product innovations.
Industry Definition and Major Segments
M2M, machine-to-machine communication, is: two machines "communicating," or sharing data without the need for human intervention. In the industrial Internet of Things, this includes serial connections, powerline connections (PLCs), and wireless communications (IoT). Artificial intelligence (AI) and machine learning (ML) make it easier for systems to communicate with one another and make their own decisions. M2M communication has become considerably easier since the switch to wireless, and more applications may now be connected. Machine-to-machine technology's major goal is to tap into sensor data and send it to a network.
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The market, on the basis of technology, can broadly be segmented into:
Based on end user, the market can be divided into:
- Automotive and Transportation
- Intelligent Vending Machines
- Contactless Checkout/POS
- Digital Signage
- Consumer Electronics
- Security and Surveillance
On the basis of region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The M2M communication industry is expected to increase in response to the growing popularity of the Internet of Things (IoT). During the forecast period, an increasing number of connected devices is expected to boost market growth. The advancements in network technology are expected to have a beneficial impact on the market's growth trend. Increased 4G service penetration and commercialisation of 5G services are expected to have a significant impact on the M2M communication market in the future years. Additionally, rapid digitisation, industrialisation, research and development activities, a surge in investment and a rise in M2M connections among various industry verticals positively affect the machine-to-machine (M2M) connections market. Supportive government policies, increasing demand for connectivity, along with growing concerns for safety is driving the M2M communication market.
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Key Market Players
The major players in the market are Intel Corporation, Vodafone Group PLC, Cisco Systems Inc, Huawei Technologies Co., Ltd., and Texas Instruments Incorporated, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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