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The growing popularity of Internet of Things (IoT) is poised to drive the growth of the Machine to Machine communication market.
HYDERABAD, TELANGANA, INDIA, November 17, 2022 /einpresswire.com / -- machine to machine communication market is expected to reach $33.0 billion by 2026 at a CAGR of 6.9% during the forecast period 2021-2026. Supportive government policies, increasing demand for connectivity along with growing concern for safety is driving the M2M communication market. The smart home market, automotive industry, healthcare, manufacturing & supply chain verticals will fuel their growth by innovating more technologies in M2M communications. Moreover, the increasing M2M connections in various industries and the growing adoption of new connectivity technologies will further accelerate machine-to-machine (M2M) connections market growth in the forecast period 2021-2026. Moreover, the substantial penetration of cellular services globally and increasing adoption of 4G, and emerging 5G cellular technology is further driving the growth of the wireless connectivity technology in the machine-to-machine (M2M) connections market. Hence these benefits are analysed to drive the market in the forecast period 2021-2026.
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Key Takeaways
1. North America dominated the market by a market share of more than 34.9% in 2020, early adoption of advanced technologies and presence of developed regions such as U.S and Canada is analysed to drive the market.
2. M2M technology allows manufacturing machines to communicate with each other for exchanging and gathering information such as machining process conditions and thus to enhance productivity and efficiency.
3. The growing adoption of short-range wireless connectivity technologies such as Wi-Fi, Bluetooth, and ZigBee for multiple applications such as in-car infotainment systems, patient monitoring devices, wireless beacons, and smart appliances is driving the growth of the market for the wireless technology segment.
4. Machine to Machine Communication top 10 companies include AT&T Inc., Cisco Systems Inc., Huawei Technologies Co., Ltd., NXP Semiconductors N.V., Texas Instruments Incorporated, Intel Corporation, Gemalto N.V., Vodafone Group PLC, Murata Manufacturing Co., Ltd., U-Blox Holding AG, Fanstel Corporation among others.
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Segmental Analysis:
Machine to Machine Communication Market Segment Analysis - By Technology: Wireless technology is growing at a highest CAGR of 9.6% in the forecast period 2021-2026. The growing adoption of short-range wireless connectivity technologies such as Wi-Fi, Bluetooth, and ZigBee for multiple applications such as in-car infotainment systems, patient monitoring devices, wireless beacons, and smart appliances is driving the growth of the market for the wireless technology segment.
Machine to Machine Communication Market Segment Analysis - By Industry Vertical: Manufacturing sector in Machine to Machine Communication is growing at a CAGR of 9.9% in the forecast period. M2M technology allows manufacturing machines to communicate with each other for exchanging and gathering information such as machining process conditions and thus enhancing productivity and efficiency. Machine-to-machine technology is in high demand among manufacturers because of its real-time communication abilities and the way it allows them to remotely track their supply chains and monitor warehouse operations from any location. Increasingly global supply chains have made these features invaluable to manufacturers. Many manufacturing companies have been investing heavily in deploying this technology. Industries such as ABB, Siemens, Honeywell and so on have invested heavily in this technology. Hence these advancements are analyzed to drive the market in the forecast period 2021-2026.
Machine to Machine Communication Market Segment Analysis - By Geography : North America dominated the market by a market share of more than 34.9% in 2020, early adoption of advanced technologies and presence of developed regions such as U.S and Canada are analysed to drive the market. In addition, it is the most advanced region and it has highest number of smart homes solutions with 4.5 million systems installed as of 2019. The usage and applications of M2M in the smart home space is rising owing to its wide applications. Moreover, U.S. is leading the market in North America as the rising demand of cloud based services and high-speed networks enable easy access, analysis and manipulation of stored data transaction to help customers improve their business operations. Hence these advancements are analyzed to drive the market in the forecast period 2021-2026.
Competitive Landscape:
The top 5 players in the Machine to Machine Communication Industry are -
1. AT&T Inc.
2. Cisco Systems Inc.
3. Huawei Technologies Co. Ltd.
4. NXP Semiconductors N.V.
5. Texas Instruments Incorporated
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