Global Machine-to-Machine (M2M) Connections Market Forecast Report 2024-2029 - A $5.3 Billion Market by 2029, Growing Popularity of Smart Cities and Connected Cars

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Mar 04, 2024, 05:30 ET

DUBLIN, March 4, 2024 /PRNewswire/ -- The "Global Machine-to-machine (M2M) Connections Market by Technology (Wired, Wireless), End-user Industry (Automotive & Transportation, Utilities, Security & Surveillance, Healthcare, Retail, Consumer Electronics) and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The machine-to-machine (M2M) connections market is projected to grow from USD 2.9 billion units in 2024 to USD 5.3 billion units by 2029, registering a CAGR of 12.7% during the forecast period. Some of the major factors driving the growth of the machine-to-machine (M2M) connections market include the growing penetration of the Internet, increasing M2M connections among various industry verticals, and growing adoption of 4G/LTE cellular technologies and rising demand for extended network coverage, and increasing penetration of machine-to-machine (M2M) connections in advanced & portable healthcare equipment. However, privacy and security act as a challenge for the market in the future. The major growth opportunities for the market players are the emergence of M2M devices in telemedicine and the growing trend of cloud platforms and big data analytics.

Market for Utilities expected to have the second highest share during the forecast period

The utility segment of the machine-to-machine (M2M) connections market is expected to witness the second highest share during the forecast period. Utilities have long been a noticeable sector to deploy M2M technology to drive power efficiency - especially with initiatives such as the deployment of smart meters, which is an early step towards the formation of smart grids. With appropriate LPWAN hardware (LoRaWAN, Sigfox, and Cat M1/NB-IoT) for low data rate remote monitoring requirements, M2M connectivity supports utilities. LPWAN technologies are driving many metering and monitoring use cases, delivering inexpensive hardware and use costs, large area coverage and an ability to operate a device for 5+ years off batteries. Factors such as the deployment of intelligent grid management and smart meters will augment the market growth rate of this segment during the forecast period.

Wireless segment expected to register the highest CAGR during the forecast period

The machine-to-machine (M2M) connections market's wireless segment is expected to account for the highest CAGR in the forecast period. The advancements in satellite technologies and mesh networking solutions are expanding coverage and offering alternative connectivity options. In addition, the increasing role of cloud computing and edge computing is also shaping the landscape. Cloud platforms offer centralized data storage, analytics, and application management, while edge computing enables real-time decision-making and processing closer to the data source, minimizing latency and optimizing performance.

North America accounted for the highest market share among other regions in 2023

In 2023, North America accounted for the largest share of the machine-to-machine (M2M) connections market. The US is the major contributor to the growth of the machine-to-machine (M2M) connections market in North America. In the US, R&D at both academic and industry levels is broadening the application areas of machine-to-machine communication and the Internet of Things in different industries such as consumer electronics, energy & power, manufacturing, automotive & transportation, and healthcare. Initiatives taken by governments of various countries in North America to promote the adoption of the Internet of Things technology in different industrial and consumer applications are facilitating the key players in the M2M connections market to develop technologies that support the IoT ecosystem. For example, The GSMA Connected Living program is an initiative to help operators add value and accelerate the delivery of new connected devices and services in the M2M connections market.

In determining and verifying the market size for several segments and subsegments gathered through extensive secondary research, primary interviews have been conducted with key industry experts in the machine-to-machine (M2M) connections market.

The report provides insights on the following:

Analysis of key drivers (increasing penetration of internet and IoT devices, increasing support by government towards M2M connections, the development of wireless technologies such as 5G, NB-IoT, and LTE-M, and growing popularity of smart cities and connected cars), restraints (lack of standardization in connectivity protocols), opportunities (growing trend of cloud platforms and big data analytics and emergence of M2M devices in Telemedicine), and challenges (privacy and security) influencing the growth of the machine-to-machine (M2M) connections market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the machine-to-machine (M2M) connections market
Market Development: Comprehensive information about lucrative markets - the report analyses the machine-to-machine (M2M) connections market across varied regions
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the machine-to-machine (M2M) connections market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product/service offerings of leading players like AT&T Intellectual Property (US), Cisco Systems, Inc. (US), Huawei Technologies (China), NXP Semiconductors N.V. (Netherlands), Texas Instruments Incorporated (US), Intel Corporation (US), China Mobile International Limited (China), Thales (France), Vodafone Group Plc (UK), Murata Manufacturing Co., Ltd. (Japan), and U-Blox Holding AG (Switzerland), among others in the machine-to-machine (M2M) connections market.

Key Topics Covered:

Executive Summary

Wireless Segment to Hold Largest Market Share in 2024
Consumer Electronics to be Dominant Segment (2024-2029)
North America to be Largest Market During Forecast Period

Premium Insights

Attractive Opportunities for Players in Machine-To-Machine (M2M) Connections Market - Growing Adoption of 4G and 5G Networks to Drive Market
Machine-To-Machine (M2M) Connections Market, by Wireless Technology - Long-Range Communication to Lead Market During Forecast Period
North American Machine-To-Machine (M2M) Connections Market, by End-user and Country - Automotive and Transportation and US Held Largest Shares of North American Market in 2023
Machine-To-Machine (M2M) Connections Market, by Country - Japan to be Fastest-Growing Country During Forecast Period

Market Dynamics

Drivers

Increasing Penetration of Internet
Rising Government Support for M2M Connections
Growing Popularity of Smart Cities and Connected Cars
Rapid Development of Wireless Technologies

Restraints

Lack of Standardization in Connectivity Protocols

Opportunities

Increasing Adoption of Cloud Platforms and Big Data Analytics
Integration of M2M Devices in Telemedicine

Challenges

Privacy and Security Constraints

Technology Analysis

5G M2M Connections
ESIM for M2M Communication

Case Study Analysis

Multi-Carrier Networks
Real-Time Equipment Performance Data
M2M Connections for Fleet Management

Companies Profiled

AT&T Intellectual Property
Texas Instruments Incorporated
China Mobile International Limited
Vodafone Limited
Cisco Systems, Inc.
Huawei Technologies Co. Ltd.
Nxp Semiconductors
Intel Corporation
Thales
Murata Manufacturing Co. Ltd.
U-Blox
Fanstel Corp.
Commsolid GmbH
Afero
Virscient
Kore Wireless Group
Rogers Communications Inc.
Verizon Communications Inc.
Singapore Telecommunications Limited
Telefonica SA
Sierra Wireless
Orange SA
Parallel Wireless
Aeris
Telenor Group
Vertical M2M

For more information about this report visit https://www.researchandmarkets.com/r/geacr9

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