Global Growth of Machine to Machine Connections Driven by Internet Expansion
United States/WA: Market Will Boom In Near Future
Report Pages:[130 Pages]
Major Key Companies Involving in Machine to Machine (M2M) Connections Market:
AT&T Inc., Cisco Systems Inc., Texas Instruments Incorporated, Huawei Technologies Co., Ltd., NXP Semiconductors N.V., Intel Corporation, Murata Manufacturing Co., Ltd., Gemalto N.V., Vodafone Group PLC, U-Blox Holding AG, Commsolid GmbH, and Fanstel Corporation.
Market Overview:
Machine to machine (M2M) connections refers to direct communication between devices using wireless and wired channel. A wired connection can still be considered an M2M connection. M2M is about how machines communicate with each other, without the need for a human middleman to transmit information. M2M technology helps businesses automate most of their processes, improving effectiveness at a lower cost. For instance, organizations can remotely monitor their assets, thus saving a lot of time and effort. M2M connections are also used in supply chain management, warehouse management, and remote monitoring. Smart factories may use machine to machine for predictive maintenance.
Key Market Drivers:
Increasing penetration of the Internet across the world and favorable regulatory guidelines or mandates for machine to machine communication are expected to aid in the growth of the machine to machine (M2M) connections market during the forecast period. According to the India Brand Equity Foundation (IBEF), internet users in India are expected to increase from 429.23 million as of September 2017 to 829 million by 2021.
Moreover, increase in M2M connections due to growing adoption of new technologies, such as Bluetooth Smart/BLE and 4G/LTE, is expected to accelerate the growth of the machine to machine (M2M) connections market. For instance, according to Verizon Communications, the US-based telecom company, there 4G LTE service is available to more than 327 million people in the United States.
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Key Takeaways
- The machine to machine (M2M) connections market is expected to exhibit a CAGR of XX % during the forecast period owing to the rising trend for smart cities and connected cars across the globe. For instance, in July 2019, Bosch launched cloud-connected software to manage, monitor, and extend the life of electric vehicle batteries.
- Among regions, North America and Asia Pacific are expected to witness significant growth in the machine to machine (M2M) connections market, owing to government guidelines or mandates for machine to machine communication and increasing penetration of the Internet in these regions. For instance, the India Government unveiled the roadmap for machine-to-machine (M2M) communications to boost ‘Make in India’ and ‘Digital India’.
In healthcare Industry, digitization and machine intelligence are gaining significance to combat the virus. Companies are increasingly adopting digital technologies to manage supply chain and production operations during COVID-19. Advanced technologies help reduce the spread of the virus, while making sure that the businesses stay open. Moreover, technologies are playing an important role in keeping society functional amid the global pandemic. This in turn is expected to augment the growth of the market.
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