The global machine-to-machine connections market revenues totaled US$ 25.8 Billion in 2022. Between 2022 and 2032, global machine-to-machine demand will surge at 6.3% CAGR. Total market valuation will reach around US$ 47.5 Billion by 2032.
Adoption of M2M connections will remain high in the automotive & transportation sectors. The target segment is forecast to expand at 5.8% from 2022 to 2032. The rising adoption of machine-to-machine connections in IoT across the world will drive the global M2M connections market during the projection period.
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Rising applications of M2M connections in various industries, including automotive, healthcare, manufacturing, and energy will boost the global market. By automating processes, increasing visibility & control over operations, and providing real-time data and analytics, M2M connections can enhance efficiency, lower costs, and enable new business models.
M2M connections are becoming more common as Internet of Things (IoT) technology becomes more widely adopted. They are expected to play a critical role in the development of smart factories, smart cities, and other IoT applications.
The primary benefit of incorporating M2M connections in IoT is that they can aid in reducing human involvement in decision-making and improving efficiency.
Key Takeaways from the Machine-to-Machine Connections Market Report:
The global machine-to-machine connections market is poised for substantial growth, with a projected 6.3% compound annual growth rate (CAGR) through 2032. Wireless technologies will be a driving force, expected to grow at a CAGR of 6.0%. In terms of end users, the automotive and transportation segment is anticipated to see significant expansion at 5.8% from 2022 to 2032. Notably, the United States market is set to reach a valuation of US$ 6.8 billion by 2032, while South Korea's demand for machine-to-machine connections is forecasted to rise at a slightly higher CAGR of 6.7% during the same period. Additionally, China's M2M connections market is on track to reach a substantial valuation of US$ 12.6 billion by 2032, underlining the global trend towards increased integration and connectivity in various sectors.
Leading Key Players:
The Machine-to-Machine Connections market is driven by key players such as AT&T Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., NXP Semiconductors N.V., Texas Instruments Incorporated, Intel Corporation, Thales, Vodafone Group PLC, Murata Manufacturing Co., Ltd., U-Blox Holding AG, Fanstel Corporation, and Commsolid GmbH. These industry giants contribute significantly to the development and advancement of M2M technologies, offering innovative solutions and driving market growth through their expertise and extensive networks.
Recent Developments:
Ericsson is a global telecommunications company that is conducting critical R&D in the development and deployment of 5G technology. They have also set aside a sizeable budget for edge computing and AI/ML technologies to enhance their M2M offerings.
Huawei is another telecommunications company that has a worldwide presence. It is leading the market in AI research and improving its ML capabilities to compete in the M2M market.
More Insights Available:
Future Market Insights, in its new offering, presents an unbiased analysis of the machine-to-machine connections market presenting historical data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals market projections in terms of technology (wired and wireless) and end-user (healthcare, utilities, automotive & transportation, retail, consumer electronics, and security & surveillance) across various regions.
