M2M communication enables the sharing of information among devices such as sensors or meters. It helps in building connection between devices and perform necessary actions. This report offered by Market Research Future (MRFR) suggests that the global M2M communication market is supposed to expand at 10% CAGR over the assessment period 2016 to 2022. Technological advancements are projected to bring innovative product launches into the market place. This, in turn, is anticipated to act as a growth catalyst for the M2M communication market.
This type of communication requires very low power consumption. Also, the cost of operation is relatively lower. These factors are anticipated to drive the proliferation of the M2M communication market in the near future. Other advantages offered by the product are reliability, flexibility, two-way communication, etc. These factors are prognosticated to lead the expansion of the M2M communication market in the years to come.
The growing popularity of Internet of Things (IoT) is poised to drive the growth of the M2M communication market. Increasing number of connected devices is projected to provide impetus to market growth in the foreseeable future. Also, the developments in network technology are anticipated to influence the market growth pattern positively. 4G launch had revolutionized the market, and now, the commercialization of 5G services is poised to have a huge impact on the expansion of the M2M communication market in the upcoming years. The developments in wireless technology are also prognosticated to project accelerated growth rate of the market in the foreseeable future.
The technology is being adopted across different industry verticals. Some of the end-user industry domains that leverage the communication system are healthcare, retail, consumer electronics, automotive, and utilities among others. The growth of these domains is expected to prompt growth of the M2M communication market. However, high investment is required for the development and deployment of M2M communication technology. This, in turn, is poised to restrict market growth rate in the foreseeable future.
On the basis of technology, Machine to Machine (M2M) Communication Market has been bifurcated into Wired, Wireless, and hybrid.
Based on component, the segments of the M2M communication market are Wi-Fi, sensors, RFID, computer software, and others.
On the basis of application, the M2M communication market has been segmented into consumer electronics, retail, healthcare, automotive, home automation, utilities, and others.
The geographical analysis of the global M2M communication market has been offered in the MRFR report that studied the following regions in detail – North America, Europe, Asia Pacific, and Rest of the World (RoW). These regional segments are further analyzed on the basis of country-level markets. North America is supposed to lead the market on the global front over the assessment period. Increasing deployment of connected devices in the region is prognosticated to influence the growth of the M2M communication market in the region positively. The U.S. is assessed to earn considerable revenues in the region and is poised to contribute significantly to market development.
Europe is anticipated to generate a decent amount of revenue over the next couple of years. The infrastructural development of the region is poised to accelerate growth of the regional M2M communication market.
Aeris communication. Inc. (U.S.), Deutsche Telekom AG(Germany), AT&T, Inc. (U.S.), Cisco Systems Inc. (U.S.), KORE Wireless Group(U.S.), Telenor Group(Norway), Intel (U.S.), Singtel Group (Singapore), Texas Instruments (U.S), Rogers Communications Canada, Inc. (Canada), Vodafone Group plc.(U.K.), Sprint Corporation(U.S.), Verizon Communications, Inc.(U.S.), Telefónica, S.A.(Spain), Numerex Corp.(U.S.), China Mobile Ltd. (China), Sierra Wireless (Canada), and Orange S.A.(France) are some of the key players of the global M2M communication market.
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