(MENAFN- PR Newswire) NEW YORK, May 15, 2024 /PRNewswire/ -- The global
machine to machine (m2m) services market size is estimated to grow by USD 59.17 bn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of almost 28.33% during the forecast period.
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![Technavio has announced its latest market research report titled Global Machine to Machine (M2M) Services Market 2023-2027]( "Technavio has announced its latest market research report titled Global Machine to Machine (M2M) Services Market 2023-2027")
Technavio has announced its latest market research report titled Global Machine to Machine (M2M) Services Market 2023-2027
| Forecast period | 2023-2027 |
| Base Year | 2022 |
| Historic Data | 2017 - 2021 |
| Segment Covered | Application (Automotive, Healthcare, Utilities, Retail, and Others), Technology (Wireless and Wired), and Geography (APAC, North America, Europe, South America, and Middle East and Africa) |
| Region Covered | APAC, North America, Europe, South America, and Middle East and Africa |
| Key companies profiled | Alphabet Inc., Amdocs Ltd., AT and T Inc., BT Group Plc, Cisco Systems Inc., Comarch SA, Cstar Technologies Inc., Deutsche Telekom AG, Huawei Technologies Co. Ltd., Intel Corp., Telefonaktiebolaget LM Ericsson, Orange SA, Rogers Communications Inc., Semtech Corp., Telefonica SA, Telit IoT Platforms LLC, Thales Group, Verizon Communications Inc., Vodafone Group Plc, and Aeris Communications Inc. |
Key Market Trends Fueling Growth
The 5G network is poised to revolutionize Machine to Machine (M2M) services, enabling advancements in autonomous vehicles, IoT, and machine-to-infrastructure connections. Telecom providers and automotive manufacturers have been developing IoT connectivity platforms, integrating software applications and enhancing product capabilities. Cost-effective and safety-regulated, these strategic developments leverage cloud platforms, analytics capabilities, and reseller networks. M2M services expand to various industries, including automotive, healthcare, and telecom-related fields, enhancing operational efficiency and security. 5G's fast wireless technology and large industrial firm penetration rate facilitate M2M transactions, online transactions, and smart city development. Cybersecurity and network management are crucial considerations in this expansion stage.
Market
Challenges
Machine to Machine (M2M) services market encompasses various industrial sectors, including automotive, manufacturing, energy, healthcare, and military. Due to market fragmentation, customized M2M platforms are essential to cater to distinct use cases and applications. M2M devices and applications necessitate unique connectivity requirements for frequent data transmission. During emergencies or disasters, network overload is a concern due to potential poor protocol implementations. High signaling traffic from numerous small devices operating on and off networks is another challenge. Cost, power consumption, scalability, network resilience, ease of commissioning, components, actuators, memory,
RFID, technological advancements, and smart homes solutions are crucial factors shaping the M2M communications landscape. MTC, sensed data, information, decision-making, collaborating machines, human involvement, M2M technology, the internet, and rapid development are enabling keys in this sector. Industry 4.0, artificial intelligence (AI), and 5G networks are significant trends influencing the market's growth.
Research report provides comprehensive data on impact of trend, driver and challenges
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Segment Overview
This machine to machine (m2m) services market report extensively covers market segmentation by
Application 1.1 Automotive 1.2 Healthcare 1.3 Utilities 1.4 Retail 1.5 Others
Technology Geography 3.1 APAC 3.2 North America 3.3 Europe 3.4 South America 3.5 Middle East and Africa
1.1 Automotive-
The Machine to Machine (M2M) Services Market in the automotive industry is segmented by application, with a focus on cost, power consumption, scalability, and network resilience. The growing adoption of M2M technology in connected cars for infotainment services and remote diagnostics is driving market growth. Technological advancements, such as the deployment of 4G LTE and the integration of RFID, actuators, memory, and components, are essential for enhancing safety and functionality. However, limiting factors include the need for high power consumption and the threat of substitutes from alternative communication technologies. Value chain analysis reveals that operational activities, such as M2M communications and machine-type communication (MTC), are crucial for decision-making and collaborating machines. The current business scenario is characterized by the effectiveness and costs of these operational activities, which are influenced by factors such as quality and the current base figures. Industry 4.0 and artificial intelligence (AI) are enabling key technological developments in the M2M market. Fifth-generation (5G) networks are expected to provide rapid development and increased network capacity, further fueling the growth of M2M technology. Sensed data and information are integral to the decision-making process, with human involvement playing a crucial role in ensuring the overall effectiveness of M2M systems. Despite these opportunities, the market faces challenges, including the need for high-cost components and the potential impact of technological advancements on existing business models. Overall, the M2M Services Market in the automotive industry is poised for significant growth, driven by the increasing demand for smart homes solutions and the integration of M2M technology into various operational activities.
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Research Analysis
In the rapidly evolving landscape of Industry 4.0, Machine-to-Machine (M2M) services have emerged as a pivotal component. Leveraging Artificial Intelligence (AI) and advanced Wireless Technologies such as NB-IoT and LTE-M, M2M communications facilitate Machine-Type Communication (MTC), enabling the exchange of sensed data between connected devices. This data is transformed into valuable information, fueling informed decision-making in various sectors. M2M applications span across Connected Cars, Healthcare Equipment, Waste Management, Water Management, Energy Consumption in Public Buildings, and more. M2M services bridge the gap between wired and wireless systems, fostering seamless integration and optimization. The evolution of M2M communications from 2G to 3G and beyond is a testament to its transformative potential in diverse industries.
Market Research Overview
The Machine to Machine (M2M) Services Market refers to the communication and exchange of data between machines and devices without human intervention. This technology is revolutionizing various industries, including healthcare, transportation, energy, and manufacturing. M2M enables real-time monitoring, predictive maintenance, and automated decision-making, leading to increased efficiency and productivity. The market is expected to grow significantly due to the increasing adoption of IoT devices and the need for seamless data exchange between them. M2M solutions provide valuable insights and enable businesses to optimize their operations and enhance customer experience. The market is also driven by the development of advanced technologies such as AI, machine learning, and cloud computing.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application Automotive Healthcare Utilities Retail Others
Technology Geography APAC North America Europe South America Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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