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Global Machine to Machine Market will grow at 5.3% CAGR to exceed 25.24Bn by 2022

Press Release   •   Jan 15, 2018 07:07 EST

Digital communication between an endpoints and an enterprise’s backend system over telecommunication network or internet is called machine to machine communication. Machine to machine connectivity can be used across the wired and wireless industry to connect deployed endpoints through satellite, internet, mobile and other private telecommunication networks. This technology consists of devices such as meters and sensors to capture attributes such as temperature and location. These data points are then transmitted through the network software or application to translate captured data into meaningful information.

According to the report, global machine to machine market was valued at approximately USD 18.96 billion in 2016 and is expected to reach approximately USD 25.24 billion by 2022, growing at a CAGR of around 5.3% between 2017 and 2022.

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Heavy dependency on the wholesale machine to machine mobile virtual network operators that buy bandwidth at wholesale price is driving this market globally. Further, growing demand for extended communication network coverage from consumers which in turn is improving the efficiency and productivity of machinery that works on buildings, cars, and the wireless network is anticipated to play a vital role to boost the demand for the machine to machine communication technology.

Along with it, increasing use of wireless connectivity enabled products such as wireless beacons, mobile point of sale (MPoS) devices, and patient health monitoring devices in the industry is another major factor expected to drive demand for the machine to machine communication technology in coming years. Additionally, increasing adoption of Internet of Things (IoT) in a wireless communication system and growing penetration of internet across the world is presently driving the machine to machine market. In future, a strategic collaboration of machine to machine solutions providers with system integrators and companies providing networking solutions is expected to fuel the growth of this market. However, privacy and security concern of data that is transmitted over a communication network through devices is one of the major factor restraining the growth of this market.

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Machine to machine market is segmented on the basis of technology, component, application, and regional. Based on technology the market for a machine to machine is segmented into 4G/LTE, Wi-Fi, Ethernet, power-line, and others. Due to the common communication medium for the machine to machine application, 4G/LTE is leading technology to this technology segment. Further, on the basis of components, the machine to machine market is divided into actuators, sensors, memory, RFID, power, and communication modules. Due to voice, high-speed data, and IP based wireless communication with seamless global roaming; communication module is the leading component in this segment. Furthermore, consumer electronics, Information Technology (IT), retail, transportations & automotive, healthcare, and security are application segments of the machine to machine market. Increasing competition between dedicated devices such as digital cameras, handheld gaming consoles, e-readers, and multipurpose devices such as tablets and smartphones in M2M connectivity makes consumer electronics leading application for this market. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further bifurcation into major countries including U.S., France, UK, Germany, China, India, Japan, and Brazil.

Major players in this market are Verizon Communications, Inc., AT&T, Inc., Vodaphone Grp., Rogers Communication, Axeda Corp., Atmel Corp, Cisco Systems, Imetrik Machine to Machine solutions, Inc., Cypress Semiconductor Corp, Infineon Technologies, Freescale Semiconductor, Inc., NEC Corp., NTT Docomo, Inc., and Novatel Wireless, Inc.

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