NEW
YORK, July 16, 2024 /PRNewswire/ -- The global
machine to machine (M2M) services market size is estimated to grow
by USD 116.80 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a
CAGR of almost 37.12% during the forecast period. Rising
demand for improved machine to machine data communication is
driving market growth, with a trend towards growth of automotive
industry by leveraging 5G technology. However, standardization and
policy-related issues poses a challenge. Key market players include
Aeris Communications Inc., 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., Orange SA, Rogers Communications Inc., Semtech
Corp., Telefonaktiebolaget LM Ericsson, Telefonica SA, Telit,
Thales Group, Verizon Communications Inc., and Vodafone Group
Plc.
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Machine To Machine
(M2M) Services Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
37.12%
|
Market growth
2024-2028
|
USD 116807.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
29.55
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 30%
|
Key
countries
|
US, China, Japan,
India, and UK
|
Key companies
profiled
|
Aeris Communications
Inc., 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., Orange SA,
Rogers Communications Inc., Semtech Corp., Telefonaktiebolaget LM
Ericsson, Telefonica SA, Telit, Thales Group, Verizon
Communications Inc., and Vodafone Group Plc
|
Market Driver
The 5G network is set to fuel advancements in machine-to-machine
(M2M) and machine-to-infrastructure (M2I) services, particularly in
sectors like automotive and logistics. IoT connectivity plays a
crucial role in enabling interconnectivity between devices, such as
vehicles, and providing real-time information for enhanced safety
and efficiency. Autonomous vehicles, a major innovation, offer
social, economic, and mobility benefits, with safety features
activated only when necessary. Vehicle-to-X (V2X) technology
facilitates communication between vehicles and other entities,
enhancing safety and enabling faster, more efficient driving. In
the logistics industry, IoT solutions optimize fleet, freight, and
public transport management, increasing operational efficiency and
enhancing the commuter experience. OTA updates, facilitated by 5G
and IoT, provide significant cost savings and real-time software
enhancements, driving the growth of the global M2M services market.
Companies like NXP Semiconductors, Cisco, Tesla, and Ford are
leading the way in implementing these technologies.
The Machine-to-Machine (M2M) services market is experiencing
significant growth due to advancements in connectivity
technologies, such as 4G/LTE and 5G. Product enhancements in
manufacturing products, like sim-enabled machines and sensors, are
driving cost-effectiveness and operational efficiency for
enterprises. Software application integration and cloud platforms
enable real-time analytics capabilities. Strategic developments,
including partnerships with resellers and expansion into new
industries like utilities, smart cities, automotive, healthcare,
and telecom-related fields, are also fueling growth. Safety
regulations and cybersecurity concerns are being addressed through
AI/ML and network management solutions. The 5G penetration rate is
increasing, providing fast wireless technology for large industrial
firms to handle 5G data and online transactions securely. M2M
transactions are becoming essential for operational efficiency and
reducing operational breaches. Government policies and wireless
networks (both wired and wireless) are crucial components of the
connectivity process. Ongoing developments in optical, switching,
and security technologies will further enhance the M2M services
market.
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Market Challenges
- Machine to machine (M2M) services find applications in various
industries, including automotive, manufacturing, energy,
healthcare, and military. Due to market fragmentation, operators
must provide unique M2M platforms catering to diverse use cases and
applications. M2M devices have distinct connectivity requirements,
necessitating frequent data transmission, which could lead to
network overload during emergencies or disasters. Satellite
operators, with varying national regulatory policies, create
interoperability issues. Integrating M2M devices with cellular M2M
technologies is complex, requiring device redesign and software
development. Adding supplementary features like
GPS, Bluetooth, and short-range wireless connectivity can
cause integration issues, reducing M2M adoption. A standardized
framework for sharing data from different satellites is lacking,
affecting coordination among databases. Despite these challenges,
existing spectrum and network assets can be leveraged to maximize
profits, reduce customer acquisition and support costs, and enable
new wireless devices and business processes.
- In the current business scenario, the Machine-to-Machine (M2M)
Services Market is experiencing rapid development, driven by the
need for smart homes solutions and Industry 4.0. However, there are
several challenges that need to be addressed to ensure the
effectiveness and cost-competitiveness of M2M services. Cost is a
significant challenge, with high component costs, power
consumption, and commissioning fees limiting the adoption of M2M
technologies. Scalability and network resilience are also critical
issues, as M2M communications require reliable and robust networks
to transmit sensed data and enable real-time decision-making. The
M2M value chain includes various operational activities, from
component manufacturing to memory management and RFID tagging.
Technological advancements, such as artificial intelligence (AI)
and fifth-generation (5G) networks, are enabling more collaborating
machines and machine-type communication (MTC), but these
technologies also come with their own costs and complexities. The
M2M market is also facing the threat of substitutes, such as wired
communication and manual data entry. To remain competitive, M2M
service providers must focus on reducing costs, improving quality,
and ensuring ease of commissioning for their customers. Components,
such as actuators and sensors, play a crucial role in the M2M
ecosystem. Ensuring the reliability and compatibility of these
components is essential to maintaining network effectiveness and
reducing the risk of operational errors. Overall, the M2M Services
Market is an exciting and dynamic space, with significant potential
for growth and innovation. However, addressing the challenges of
cost, power consumption, scalability, network resilience, ease of
commissioning, and component reliability will be key to unlocking
the full potential of this technology.
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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 refers to the communication between machines and
devices, enabling them to exchange data and perform tasks without
human intervention. This market is growing rapidly due to the
increasing use of Internet of Things (IoT) technology in various
industries, including healthcare, transportation, and
manufacturing. Companies are investing in M2M services to improve
efficiency, reduce costs, and enhance productivity. The market is
expected to reach significant growth in the coming years, driven by
the proliferation of connected devices and the demand for real-time
data analysis.
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analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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Research Analysis
The Machine-to-Machine (M2M) services market is experiencing
significant growth due to the increasing adoption of Industry 4.0
and the integration of Artificial Intelligence (AI) in various
industries. M2M communications enable devices and machines to
exchange information and make decisions autonomously over the
internet. With the rollout of 5G and advancements in connectivity
technologies, M2M services are becoming more cost-effective and
efficient. M2M services find applications in various sectors such
as manufacturing, transportation, healthcare, automotive, and smart
cities. Sensors and machines are integrated with software
application integration to collect data and analyze it using
analytics capabilities. This data is used to optimize operational
efficiency, ensure safety regulations, and drive strategic
developments. Wireless technologies like NB-IoT and LTE-M are
gaining popularity in M2M services due to their low power
consumption and long-range capabilities. Cybersecurity is a major
concern in M2M services, and companies are investing in advanced
security measures to protect against potential threats. Government
policies and initiatives are also driving the growth of M2M
services in sectors like waste management and smart cities.
Connected cars are another area of significant growth, with
automakers investing heavily in M2M services to enhance safety and
improve the driving experience. Overall, M2M services are
transforming industries by enabling real-time data exchange and
automated decision-making.
Market Research Overview
The Machine-to-Machine (M2M) Services Market is experiencing
rapid development in various industries as part of Industry 4.0,
with M2M communications and machine-type communication (MTC)
playing a crucial role. Sensed data is transformed into valuable
information for decision-making and collaborating machines,
reducing human involvement. M2M technology connects devices to the
internet, enabling key advancements in manufacturing products,
cost-effectiveness, and operational efficiency. Connectivity
technologies, including 4G/LTE, 5G networks, and wireless and wired
networks, are enabling the connectivity process. M2M transactions
are increasing in sectors like utilities, smart cities, automotive,
healthcare, telecom-related fields, and more. AI/ML, cybersecurity,
and network management are essential components of M2M services.
The expansion stage of M2M technology is driven by strategic
developments, cloud platforms, analytics capabilities, and
resellers. Maintenance, hardware, sensors, and machines are
integral parts of the M2M ecosystem. Policies and regulations,
including those from the Department of Telecom, play a significant
role in the market's growth. M2M services are transforming
industries, from connected cars and wireless technologies to
NB-IoT, LTE-M, and healthcare equipment, and are revolutionizing
sectors like waste management, water management, energy
consumption, and public buildings. Technology giants are investing
in specialized solutions for autonomous driving, driver assistance
systems, and self-driving cars. The penetration rate of 5G and the
availability of fast wireless technology are enabling online
transactions and M2M transactions, making the future of M2M
services exciting and full of possibilities.
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
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