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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Factors that are becoming essential to improve the machine-to-machine connections market in the coming years are increasing pervasion of the internet. Technologies such as 3G, 4G Volte, and upcoming 5G are creating the ground for the expansion of machine-to-machine connections. In addition, Bluetooth, wi-fi, and ZigBee can assist the market growth. Healthcare sector and the automotive sector are also providing ample opportunity for market growth. In patient monitoring devices, car infotainment systems, and smart appliances, machine-to-machine connections are performing well. In addition, connected devices such as wearables can trigger growth for the machine-to-machine connections market.
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, the machine-to-machine 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 M2M 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.
In 2017, Actility, based out of Paris, France, is a company that has expertise in M2M communications, received a USD 75 million as a fund to increase their research and development. The company prefers mostly dealing with the energy sector, but the company also extends its hand to the logistics and supply chain, smart buildings; and energy & utilities.
In 2018, Verizon declared that they are using predictive analytics algorithms to monitor an astounding 3GB data per second from various network interfaces to gather data about weather, temperature, and everything. This endeavor is to understand when the customer impacting events can occur and accordingly the model would help in preventing it even before it happens to smoothe the workflow.
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