M2M Communication Market Professional Survey Report 2032

Δημοσιευμένα 2023-04-28 06:01:39

M2M Communication Market Overview

Machine-to-machine (M2M) communications is the exchange of information between networked devices without human assistance. It uses sensors for transmitting data over a common network and uses computing software for interpreting data and making decisions. The global M2M communication market report by Market Research Future (MRFR) focuses on advances in industrial automation and improved protocols in wireless communication for predicting growth and revenue margins for the period of 2022 to 2030 (forecast period). The COVID-19 outbreak and its effects on the industry are outlined in the report.

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Machine to machine (M2M) communication is the direct exchange of data between two machines or devices, using any communication channel such as wired or wireless. This can include instrumentation devices that collect data like temperature, inventory level, etc., and communicate that information to software applications. In the early days, remote networks were used to relay information back to a central hub for analysis. However, with the expansion of IP networks, M2M communication has transformed into a system of networks that transmit data to personal appliances leading to new business opportunities for consumers and suppliers. M2M wireless networks can also help in improving the production and efficiency of machines, enhancing reliability and safety, and promoting life-cycle management for key assets and products. The M2M industry is supported by various open initiatives including the Eclipse machine to machine industry working group, ITU-T Focus Group M2M, and 3GPP, which studies security aspects for M2M equipment.

Market Scope

The global M2M communication market is expected to grow at 10% CAGR over the forecast period. The use of remote monitoring of industrial processes and seamless transfer of data between devices is expected to drive market demand. Increasing demand for connectivity in industrial processes, supportive government policies, and concerns for worker safety are major drivers of the market. Proliferation of industrial internet of things (IIoT) and adoption of connectivity technologies in verticals of manufacturing, automotive, healthcare, and real estate can further the market growth.

The increasing focus on improving productivity and efficiency and accumulation of data for driving machining can fare well for the global M2M communication market. Adoption of short-range wireless technologies can influence the market. The utilization of M2M communication by the manufacturing sector for keeping up with the increasing demand owing to the growing population and accelerate production can augur favorably for the market. Investments in M2M systems by large manufacturing companies such as Honeywell, Siemens, and others are an indicator of the large scope of the market.

But lack of awareness of the technology and high initial investments can hamper market growth.

M2M Communication Market Segmentation

By technology, it is segmented into wired, wireless, and hybrid. The wireless segment is deemed to lead in the global M2M communication market due to Wi-Fi, Bluetooth, and ZigBee used in wireless beacons, patient monitoring systems, and infotainment systems. Adoption of smart devices and evolution of cellular networking technology can drive the segment growth over the forecast period.

By component, it covers RFID, Wi-Fi, sensors, software, and others.

By application, it is segmented into healthcare, retail, automotive, consumer electronics, utilities, home automation, and others.

Regional Analysis

North America is expected to dominate the M2M communication market due to the opportunities offered by M2M communication for mobile operators. The establishment of standards and protocols for integrating M2M can increase the connection and revenue. In terms of revenue generation, the U.S. is leading the market in North America due to the rising demand of cloud based services and high-speed networks. Launch of new routers for managing IoT devices seamlessly with the help of middleware solutions can lead to new contracts with leading manufacturers with M2M communication providers.

Europe is expected to register healthy growth in the machine-to-machine communication (M2M) market due to industrial development as well as infrastructural growth. The M2M communication market is also increasing due the high adoption in transportation, security and surveillance, and warehouses.

Asia Pacific has emerged as the fastest growing market due increasing adoption of smartphones and digital solutions such as smart meters in China and India. The improving economic conditions, rise in industrial development and initiative by government such as ‘Digital India’ in India are also supporting the M2M communication market.

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Competitive Outlook

Deutsche Telekom AG, Sierra Wireless, China Mobile Ltd., Telenor Group, Intel, Sprint Corporation, Texas Instruments, Aeris Communication Inc., Verizon Communications, Inc., Telefónica, S.A., Numerex Corp., Cisco Systems Inc., Orange S.A., AT&T, Inc., Singtel Group, Vodafone Group plc., KORE Wireless Group, and Rogers Communications Canada, Inc. are key providers in the global M2M communication market.

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