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Machine-to-Machine (M2M) Connections Market Size

Report ID: GMI8143
Published Date: Feb 2024
Report Format: PDF

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Machine-to-Machine Connections Market Size

Machine-to-Machine Connections Market was valued at over USD 20 billion in 2023 and is estimated to register a CAGR of over 7% between 2024 & 2032.

Machine-to-Machine (M2M) Connections Market

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Machine-to-Machine (M2M) connections refer to direct communication between devices, typically without human intervention. This connectivity enables automated data exchange and interaction, facilitating tasks, such as remote monitoring, control, and optimization, in various domains including healthcare, manufacturing, transportation, and utilities. M2M connections play a crucial role in enabling the Internet of Things (IoT) ecosystem. Advancements in 5G and edge computing are driving the Machine-to-Machine (M2M) connections market growth by allowing for faster, more reliable, and lower-latency communication between devices. The high bandwidth and low latency capabilities of 5G improve M2M applications such as self-driving cars and industrial automation. Edge computing reduces latency by processing data closer to the source, allowing for real-time decision-making in M2M applications and encouraging innovations and scalability across industries.

For instance, in June 2022, STMicroelectronics launched the ST4SIM-201 embedded SIM (eSIM) for M2M communication, which complies with the most recent 5G network access standards, M2M security, and flexible remote provisioning & management. The ST4SIM-201 is compatible with ETSI/3GPP release 16 and can connect to 5G Standalone (SA) networks. It can connect to networks powered by 3G, 4G, and Low-power Wide-area Network (LPWAN) technologies including LTE-M and narrowband IoT.

Increased connectivity demands, propelled by the rapid growth of IoT applications across industries, are boosting the Machine-to-Machine (M2M) connections market. As organizations aim to improve operational efficiency and gather real-time insights, there is a growing demand for seamless communication between devices, fueling the demand for M2M connections to enable data exchange and automation.

Machine-to-Machine Connections Market Report Attributes
Report Attribute	Details
Base Year:	2023
Machine-to-Machine Connections Market Size in 2023:	USD 20 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	7%
2032 Value Projection:	USD 40 Billion
Historical Data for:	2018 - 2023
No. of Pages:	250
Tables, Charts & Figures:	254
Segments covered:	Type and end-use industry
Growth Drivers:	Increasing connectivity demands Growing demand for automation and efficiency Rising healthcare IoT applications Exponential rise of connected vehicles Advancements in 5G and edge computing
Pitfalls & Challenges:	Data privacy risks Scalability constraints

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Data privacy issues pose significant challenges for the Machine-to-Machine (M2M) connections market. With large amounts of data being exchanged between connected devices, concerns about unauthorized access, data breaches, and compliance with regulations, such as the GDPR, arise. Mishandling sensitive information can result in legal consequences, erode consumer trust, and impede the wide adoption of M2M technologies.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Machine-to-Machine (M2M) connections market was valued at over USD 20 billion in 2023 and is estimated to register over 7% CAGR between 2024 & 2032 owing to advancements in 5G and edge computing.

The power & utilities segment accounted for a market share of over 20% in 2023 and will grow significantly through 2032 as the sector embraces digital transformation and strives to improve operational efficiency, grid reliability, and customer service.

North America Machine-to-Machine (M2M) connections market held a significant revenue share of over 25% in 2023 and will significantly grow through 2032 attributed to the region's robust infrastructure, rapid technological advancements, and wide adoption of IoT solutions across various industries.

AT&T Intellectual Property, Cisco Systems, Inc., CommSolid GmbH, Deutsche Telekom AG, Huawei Technologies Co. Ltd., Intel Corporation, Murata Manufacturing Co. Ltd., NXP Semiconductors, Sierra Wireless, Texas Instruments Incorporated, Thales Group, T-Mobile USAINC, U-Blox Holding AG, Virscient Limited, and Vodafone Group.