Global Machine-to-Machine (M2M) Connections Market Report and Forecast 2024-2032

Global Machine-to-Machine (M2M) Connections Market Outlook

The global machine-to-machine (M2M) connections market attained a value of about USD 27.34 billion in 2023. The market is further expected to grow at a CAGR of 4.5% during the forecast period of 2024-2032 to reach approximately USD 40.64 billion by 2032.

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Increasing Wireless Technology Applications to Spur the Market Growth

The global market for machine-to-machine (M2M) connections is being driven by the prevalence of wireless technology in various uses. Owing to the growing adoption of short-range networks like Wi-Fi and Bluetooth for applications in multiple devices, including smart medical devices, in-car entertainment systems, and smart speakers like Amazon Alexa or Google Home, are driving the market growth for M2M connections. In addition, owing to the penetration of smartphones due to rising standards of living and inflatable disposable incomes, wireless connectivity is further generating market demand for M2M connectivity with the presence of cellular networks like LTE/4G and 5G technology. Furthermore, the emergence of smart-home technology that allows remote monitoring of home appliances like lighting, heating, ventilation, and air conditioning, among others, is augmenting the market growth for wireless machine-to-machine (M2M) connections in major developed and developing countries.

Machine-to-Machine (M2M) Connections Market Segmentation

Machine-to-machine (M2M) connections refer to the ability of machines to communicate with each other independently, eliminating the need for human intervention. Software technologies like Artificial Intelligence (AI) and Machine Learning (ML) facilitate the communication between systems, allowing them to make their autonomous decisions.

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The market, on the basis of technology, can broadly be segmented into:

• Wired technology
• Wireless Technology

Wired technology can further be divided into ethernet and industrial.

The wireless technology segment can further be categorised into short range and cellular network.

Based on end user, the market can be divided into:

• Healthcare
• Utilities
• Automotive and Transportation 
• Retail
• Consumer Electronics 
• Security and Surveillance
• Others

The retail segment can further be segmented into intelligent vending machines, contactless checkout/POS, and digital signage.

The EMR report looks into the regional markets of machine-to-machine (M2M) connections like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

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Rising Applicability of M2M in Utilities Sector to Propel the Market Growth

The utility segment is anticipated to be a significant market driver of the global market for M2M connections. Utility companies often rely on M2M connection to harvest energy, such as oil and gas, detect worksite factors such as pressure, temperature, and equipment status. In addition to this, M2M technology can be utilised for billing consumers with the use of smart meters that measure the usage of electricity or water, hence impelling the market growth. Smart meters can be installed in commercial and residential settings and offer a real-time update on energy utilisation, along with the calculated fare.

Wireless connections like Wi-Fi can enable automatic data transmission, thus eliminating the need for manual meter readings. In addition, users can verify the credibility of the calculated bills by monitoring energy usage to avoid the scope of error, hence invigorating the market growth. Moreover, with the outburst of coronavirus pandemic, demand for M2M connectivity is further accelerating from the utility sector to avoid human interaction and thereby reducing the risk of infection.

Key Industry Players in the Global Machine-to-Machine (M2M) Connections Market

The report presents a detailed analysis of the following key players in the global machine-to-machine (M2M) connections market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.

• Intel Corporation
• Vodafone Group PLC
• Cisco Systems Inc
• Huawei Technologies Co., Ltd.
• Texas Instruments Incorporated
• Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

Key Highlights of the Report