M2M communication plays an integral role in enhancing the data communication technology. The global data communication technology market depends on this factor significantly, which is expecting substantial growth during the forecast period (2016-2022) at 10% CAGR, reveals Market Research Future (MRFR). M2M Communication has emerged as an essential concept and has simultaneously gained much traction in recent years, which contributes to the market growth considerably.
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Market Drivers & Challenges
The Machine to Machine (M2M) communication is known as a type of data communication technology that enables the devices such as sensors or meter to distribute information automatically with other devices and perform necessary action. Such an action is done through a network that can be wired, wireless or hybrid without human intervention. Also, M2M communication is majorly used for remote monitoring having an aim to capture an event and transfer data between mechanical or electronic devices. These factors have been recognized as major factors contributing to the market growth.
At the same time, M2M communication market is emerging rapidly as it is being adopted in many sectors such as consumer electronics, retail, automotive, utilities, healthcare, and home automation and many more. Other than this, M2M communication also forms a base of Internet of things (IoT) technology and due to the rising demand of Internet of things (IoT), the M2M communication market is also likely to show an exponential growth during the forecast period. These are also the key factors that have acted as driver for the M2M Communication market and influenced to gain more valuation in the coming years.
On the flip side, the factors of high initial investment related to the development and deployment of M2M communication solutions as well as lack of technology awareness is hindering the growth of the market. Also, the security and privacy concerns are also main concern owing to increase in data transfer wirelessly with limited battery life are also some of the restrain factors for M2M communication Market growth.
The worldwide M2M communication market in MRFR’s study has been segmented by technology, component, and application.
Technology type has been identified among wired, wireless and hybrid.
Component type includes Wi-Fi, sensors, RFID, and software and more.
Application type includes consumer electronics, healthcare, retail, automotive, utilities, and home automation and more.
Geographically, Machine to Machine (M2M) Communication Market study is conducted among the key four regions, namely North America, Europe, Asia, and Rest of the World (ROW).
Among these, North America region is leading the market of M2M communication Market owing to the opportunities that are being offered by M2M communication for mobile operators. These could surge the connection and revenue. Also, in terms of the revenue generation, the U.S. is leading the market in North America owing to the surging demand of cloud based services and high-speed networks in U.S. that enables easy access, analysis and manipulation of stored data transaction to help customers in improving their business operations.
Europe region is also likely to record a healthy growth in the machine to machine communication (M2M) Market in support of industrial development as well as infrastructural growth. The M2M Communication market is also rising with the high adoption in security and surveillance transportation, and warehouses and more. Therefore, Europe region stands as the second biggest market for M2M Communication.
Asia-Pacific has also emerged as the fastest growing market in support of rising adoption of smart phones and digital solutions such as smart meters in China and India. It is the improving economic conditions, rise in industrial development and initiative by government such as ‘Digital India’ in India that has supported the market of M2M Communication market to grow in the coming years.
The well-known players in the market of M2M Communication are listed as Cisco Systems Inc. (U.S.), AT&T, Inc. (U.S.), Deutsche Telekom AG(Germany), Aeris communication. Inc. (U.S.), Vodafone Group plc.(U.K.), Sierra Wireless (Canada), KORE Wireless Group(U.S.), Intel (U.S.), China Mobile Ltd. (China), Telenor Group(Norway), Singtel Group (Singapore), Sprint Corporation(U.S.), Texas Instruments (U.S), Rogers Communications Canada, Inc. (Canada), Telefónica, S.A.(Spain), Verizon Communications, Inc.(U.S.), Numerex Corp.(U.S.), and Orange S.A.(France) and to name a few.
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