M2M Communication Market Research Report- Forecast till 2030
The M2M Communication Market is expected to expand at 8.32 percent CAGR (2020-2030).
The global M2M communication market is showing immense growth; mainly due to the growing need for energy-efficient lighting systems. M2M communication refers to connecting different machines of the same type other than smartphones, tablets, and wearables with each other. The technology is segmented into wired and wireless. With the advancements in technology, M2M Communication also allows connected vehicle opportunity which offers inter vehicle and intra vehicle in order to improve the driver experience.
The M2M communication market is growing rapidly, and the market is adopted by various sectors such as Consumer electronics, Healthcare, Retail industry, Utilities, Automotive sector, and Home Automation, among others. These sectors are setting growth opportunities for the market by accelerating its demand. The development of advanced technologies like the internet of things, Artificial intelligence, and machine learning drive the M2M Communication Market.
The COVID 19 has negatively affected the M2M Communication Market. Despite the negative effects, the market continued to rise back by targeting the opportunities during the challenging period. The market faced huge revenue loss during this period. The lockdown has badly affected the M2M Communication Market, which led to numerous challenges to the sales sector. The factors such as the risk of declining production, supply and distribution, lack of workforce, and lesser development activities have decreased the demand and supply.
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The M2M Communication Market is segmented based on technology, component, sales channels, and application.
The market’s technology segment comprises 4G/LTE, Wi-Fi, Ethernet, Power-Line, and others. The component type consists of various components such as actuators, sensors, memory, RFID, power, and communication Modules.
The application segment under form segment includes the usage of M2M in consumer electronics, information technology (IT), retail, transportations and automotive, healthcare, security, and others.
Based on application, the market is listed into organizations, traders, importers, exporters, suppliers, pharmaceutical industry, and end-users. Manufacturers, government agencies, partners and industry bodies, investors, and trade experts fall under the segment.
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the M2M communication market in North America owing to the presence of a large number of established key players such as Aeris communication. Inc., AT&T, Inc., Cisco Systems Inc., Telenor Group, Intel Corporation, Singtel Group, Texas Instruments, Vodafone Group plc., Verizon Communications, Inc., Sprint Corporation and Telefonica, S.A. among others. Also, U.S. is leading the market in North America due to the rising demand of cloud based services and high-speed networks that enable easy access, analysis and manipulation of stored data transaction to help customers to improve their business operations. Also, due to the drastic fall in the usage of native applications and a considerable shift towards the adoption of cloud based applications in the region, the market is likely to show immense growth in the coming future. M2M communication market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2022 due to increasing adoption of smartphones and digital solutions such as smart meters in China and India in the region. Whereas, the Europe market for M2M Communication is expected to grow at a considerable CAGR (2017-2022). Europe is expected to register healthy growth in the machine to machine communication market due to industrial developments as well as infrastructural growth.
Aeris communication. Inc. (U.S.), AT&T, Inc. (U.S.), Deutsche Telekom AG (Germany), Cisco Systems Inc. (U.S.), Telenor Group (Norway), KORE Wireless Group (U.S.), Intel Corporation (U.S.), Rogers Communications Canada, Inc. (Canada), Singtel Group (Singapore), Texas Instruments (U.S.), Vodafone Group plc. (UK), Verizon Communications, Inc. (U.S.), Sprint Corporation (U.S.), Telefonica, S.A. (Spain), China Mobile Ltd. (China), Numerex Corp. (U.S.), Sierra Wireless (Canada), and Orange S.A. (France) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global M2M Communication Market.
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M2M Communication Market, by Technology (Wired, Wireless), by Component (Wi-Fi, Sensors, RFID, Computer Software), by Application (Consumer electronics, Healthcare, Retail, Automotive, Utilities, and Home Automation) – Forecast 2020-2030