The machine-to-machine (M2M) connections market is cruising ahead with substantial market expansion. The technology enables direct communication between devices for information exchange and data interpretation which further facilitates decision-making. Used mostly in warehouses, supply chain systems, and remote monitoring, the machine-to-machine connections can also perform well with traffic control, telemedicine, and fleet management. The global machine-to-machine connections market is experiencing an astounding 9.9% CAGR during the forecast period (2017-2023) and anticipated to exceed a valuation of USD 27.05 billion by the end of 2023. Market Research Future (MRFR) recently published a report that has its focus on segments, drivers that can influence the market, and detailed analysis of the competitive landscape.
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MRFR segments the machine-to-machine connections market by product category, technology, and end-users for a comprehensive understanding of the market.
Based on the product, the machine-to-machine connections market can be segmented into wireless beacons, IoT & M2M modems, routers, modules mobile point of sale and others.
On the basis of the technology, the machine-to-machine connections market can be segmented into short range, ethernet, wired technologies, industrial, a cellular network, wireless technologies, and others. Wireless technologies are experiencing substantial growth due to the technological advancements taking place in sensors.
Based on the end-users, M2M Connections Market can be segmented into security & surveillance, healthcare, automotive & transportation, consumer electronics, government & defense, retail, utilities, and others. The defense sector is increasing investment to substantiate the demands generated for a better security system. Automotive & transportation segment is also finding it easy to prosper with the worldwide boom of the automotive industry.
Region-specific detailed study of the machine-to-machine connections market includes namely Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW).
North America holds a substantial share of the global market owing to factors such as technological brilliance and infrastructural superiority. In addition, higher disposable income is allowing easy integration of the technology in various sectors. Several associated industries such as manufacturing, healthcare, BFSI, and transportation and automotive are promoting the market considerably.
The APAC market is also considerably strong due to the regional market dominance China is showing. By manufacturing cheaper sensors, China is pervading spheres that were previously unimagined. And their market grip is getting stronger with each day.
Notable players influencing the machine-to-machine connections market are Deutsche Texas Instruments Incorporated (US), Telekom A G (Germany), AT&T Inc. (U.S), Intel Corporation (US), Gemalto N.V. (Netherlands), U-blox Holding AG (Switzerland), NTT Data (Japan), Telenor Group (Norway), Vodafone Group PLC (UK), Telit Communications (UK), Verizon Communications, Inc. (U.S), and others.
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