Global M2M Connections Market - Segmented by Technology, End-User (Retail Sector, Banking and Financial Institution, Telecom and IT Industry, Healthcare, Automotive), and Region - Growth, Trends, and Forecast (2022 - 2030)
The M2M Connections Market expected to register a CAGR of 4.37% during the forecast period (2018 - 2023), to reach USD 26.91 billion by 2023. The scope of the report includes different types of M2M connections, such as Cellular Connections, Low Power Wide Area, Short Range, MAN, Wide Area Fixed, and Satellite. The scope is also segmented by end-user and region.
Increasing Number of Mobile Connections is the Major Driver for the Market
There are over 7.5 billion worldwide mobile connections today, a number slightly higher than the estimated global population. Mobile connections far outnumber individual subscribers, as many people have more than one SIM card, perhaps indicating multiple phones for their personal lives or two phones to cover work and social life. This is the major driver for the market. With IoT and Industry 4.0 being adopted by many companies to automate their process and reduce lead times, the market is expected to boom in the forecast period.
Automotive End-User Segment is expected to hold Significant Market Share
The increase in the demand for embedded telematics in cars and Wi-Fi-based GPS trackers for remote fleet monitoring, coupled with Bluetooth in-car connectivity for vehicle infotainment, is expected to drive the growth of the wireless M2M connections market for the automotive end-user industry. The M2M technology using wireless communication allows vehicles to interact with each other, as well as with the infrastructure around them and alert drivers in the loop about road conditions. Drivers can be notified of possible collisions, dangerous road conditions and hazardous curves using an array of automated systems. Connected cars are rapidly advancing towards comprehensive security with the launch of M2M technology. Nevertheless, leakage of personal information is one of the major points of concern for potential buyers of these connected cars. Thus, the networks connected to the car need to be protected and secured to avoid any internal or external attacks on the sensitive communication systems. Safety must be given the top priority.
North America is expected to lead the Market for M2M connections
North America is one of the largest markets for technology-based solutions. North America is a strong player is development and implementation of new technologies. North America is also the largest and one of the fastest growing market driverless cars, further pushing the use of number of M2M connections in the region. United States is the major shareholder in the North America region. The industrial sector is also on a steady growth, further pushing the market.
Key Developments in the Market
•March 2018 - Cox Communications announced the launch of Cox2M, new connected asset services business line. Cox2m is expected to bring more business to the company as it is expected to give businesses and cities the data and tools they need to improve processes, resulting in operational efficiencies and better customer experiences
The major players include - VODAFONE GROUP, TEXAS INSTRUMENTS, AT&T INC., DUETSCHE TELECOM AG, SIERA WIRELESS, CHINA MOBILE LTD., CISCO SYSTEM INC., HUAWEI TECHNOLOGIES CO. LTD., INTEL CORPORATION, SPRINT CORPORATION, GEMALTO NV, TELEFONICA, TELIT COMMUNICATIONS, VERIZON COMMUNICATIONS INC., and JASPER TECHNOLOGIES, amongst others.
Reasons to Purchase This Report
•Current and future M2M Connections Market outlook in the developed and emerging markets
•Analysing various perspectives of the market with the help of Porter’s five forces analysis
•The segment that is expected to dominate the market
•Regions that are expected to witness fastest growth during the forecast period
•Identifying the latest developments, market shares, and strategies employed by the major market players
•3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
•This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
Increasing Number of Mobile Connections is the Major Driver for the Market
There are over 7.5 billion worldwide mobile connections today, a number slightly higher than the estimated global population. Mobile connections far outnumber individual subscribers, as many people have more than one SIM card, perhaps indicating multiple phones for their personal lives or two phones to cover work and social life. This is the major driver for the market. With IoT and Industry 4.0 being adopted by many companies to automate their process and reduce lead times, the market is expected to boom in the forecast period.
Automotive End-User Segment is expected to hold Significant Market Share
The increase in the demand for embedded telematics in cars and Wi-Fi-based GPS trackers for remote fleet monitoring, coupled with Bluetooth in-car connectivity for vehicle infotainment, is expected to drive the growth of the wireless M2M connections market for the automotive end-user industry. The M2M technology using wireless communication allows vehicles to interact with each other, as well as with the infrastructure around them and alert drivers in the loop about road conditions. Drivers can be notified of possible collisions, dangerous road conditions and hazardous curves using an array of automated systems. Connected cars are rapidly advancing towards comprehensive security with the launch of M2M technology. Nevertheless, leakage of personal information is one of the major points of concern for potential buyers of these connected cars. Thus, the networks connected to the car need to be protected and secured to avoid any internal or external attacks on the sensitive communication systems. Safety must be given the top priority.
North America is expected to lead the Market for M2M connections
North America is one of the largest markets for technology-based solutions. North America is a strong player is development and implementation of new technologies. North America is also the largest and one of the fastest growing market driverless cars, further pushing the use of number of M2M connections in the region. United States is the major shareholder in the North America region. The industrial sector is also on a steady growth, further pushing the market.
Key Developments in the Market
•March 2018 - Cox Communications announced the launch of Cox2M, new connected asset services business line. Cox2m is expected to bring more business to the company as it is expected to give businesses and cities the data and tools they need to improve processes, resulting in operational efficiencies and better customer experiences
The major players include - VODAFONE GROUP, TEXAS INSTRUMENTS, AT&T INC., DUETSCHE TELECOM AG, SIERA WIRELESS, CHINA MOBILE LTD., CISCO SYSTEM INC., HUAWEI TECHNOLOGIES CO. LTD., INTEL CORPORATION, SPRINT CORPORATION, GEMALTO NV, TELEFONICA, TELIT COMMUNICATIONS, VERIZON COMMUNICATIONS INC., and JASPER TECHNOLOGIES, amongst others.
Reasons to Purchase This Report
•Current and future M2M Connections Market outlook in the developed and emerging markets
•Analysing various perspectives of the market with the help of Porter’s five forces analysis
•The segment that is expected to dominate the market
•Regions that are expected to witness fastest growth during the forecast period
•Identifying the latest developments, market shares, and strategies employed by the major market players
•3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
•This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
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- By Technology
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