Machine to Machine Connections Market worth US$ 31.89 billion by 2030 with a CAGR of 5.3%
Machine To Machine Connections Market accounted for US$ 19.2 billion in 2020 and is estimated to be US$ 31.89 billion by 2030 and is anticipated to register a CAGR of 5.3%. Global machine to machine connections market is driven by increasing penetration of various 2G, 3G, and 4G cellular networks across the globe. Developing network infrastructure and evolving connectivity technologies will significantly have enhanced the growth of global machine to machine connections market. Machine to machine connection service providers are collaborating with other stake holders and governments to launch sustainable health business models. Healthcare sector provides solutions such as remote diagnostic, remote patient monitoring, medication reminders, and telemedicine services which are propelling growth of the global market. Growing need for faster services in different business verticals and applications impelled the demand for machine to machine connectivity solutions. Furthermore, use of high specifications games, e-commerce and social networking websites, applications, blogs, etc. by consumers are expected to drive growth of the global market over the forecast period. Nevertheless, enhancement in user demographics is the major trend for the growth of the global machine to machine connections market.
The report "Global Machine to Machine Connections Market, By Technology (Wireless Technology and Wired Technology), By End-User Industry (Healthcare, Automotive and Transportation, Consumer Electronics, Utilities, Retail, Security and Surveillance, and Others), and Region - Global Forecast to 2030".
Key Highlights:
· In February 2017, AT&T a major key player in the global market has planned to deploy LTE-M services in the US by June 2017 and in Mexico by December 2017. In US and Mexico, the company already has a robust 4G LTE network providing coverage to nearly 400 million people. LTE-M is expected to increase the growth of IoT in North America.
· On June 2019, Texas Instruments has launched new communications capabilities on its C2000™ microcontrollers (MCUs). C2000 F2838x 32-bit MCUs includes EtherCAT, Ethernet and Controller Area Network with Flexible Data Rate (CAN FD), in AC servo drives and other industrial systems and helps designers to use a single chip to implement connectivity.
Key Market Insights from the report:
The global machine to machine connections market accounted for US$ 19.2 billion in 2020 and is estimated to be US$ 31.89 billion by 2030 and is anticipated to register a CAGR of 5.3%.The market report has been segmented on the basis of technology, end-user industry, and region.
· By technology, the global machine to machine connections market is segmented into wireless technology and wired technology. Wireless technology is most commonly used and it has highest global market share.
· By end-user industry, the global market is bifurcated into healthcare, automotive and transportation, consumer electronics, utilities, retail, security and surveillance, and others. Automotive and transportation end-user segment helds the largest global market share, followed by the utilities vertical.
· By region, In North America, it has been estimates that 35% of machine to machine connections service revenue is accounted for by the provision of connectivity and 65% by service wrap. In Europe, the operators such as Deutsche Telekom and Vodafone are already using the intermediate success in the connected health market and are expected to be the leading region over the forecast period. Asian pacific region accounts for the largest global market in 2018. The growth is attributed to outburst of smart devices.
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The prominent player operating in the global machine to machine connections market includes Texas Instruments Incorporated, Deutsche Telekom AG, AT&T Inc., Sierra Wireless Inc., Vodafone Group PLC, Sprint Corporation, Gemalto, Inc., Telefonica S.A, Intel Corp., and Telit Communications.
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