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Machine-to-Machine (M2M) Connections Market Trends

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

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Machine-to-Machine Connections Market Trends

The growing use of IoT solutions in a variety of industries is spurring the demand for M2M connections, allowing devices to communicate seamlessly. Advancements in wireless technologies, such as 5G, improve connectivity capabilities, fostering the growth of M2M applications. The growing demand for remote monitoring and automation in industries, such as healthcare, manufacturing, and transportation, accelerates M2M adoption. For instance, in June 2022, M2M Germany collaborated with Wattsense. M2M developed into a full-service provider for digitizing buildings due to the rise in IoT sensor networks including LoRaWAN and the exponential growth of M2M communication and smart networking. The Wattsense system is simple to integrate, connect to the Cloud, and operate using a Software-as-a-Service (SaaS) business model. It supports 11 major field communication protocols.

The development of smart city initiatives, growing agricultural IoT solutions, and expanding connected car ecosystems all contribute to market growth. Overall, M2M connections are essential in enabling data-driven decision-making, increasing operational efficiency, and driving innovations across industries.

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.