Market
Highlights
The
M2M
Communication Market is expected to expand at 8.32% CAGR (2020-2030).
The
global M2M communication market is showing immense growth; mainly due to the
growing need for energy-efficient lighting systems. M2M communication refers to
connecting different machines of the same type other than smartphones, tablets,
and wearables with each other. The technology is segmented into wired and
wireless. With the advancements in technology, M2M Communication also allows
connected vehicle opportunity which offers inter vehicle and intra vehicle in
order to improve the driver experience.
The
M2M communication market is growing rapidly, and the market is adopted by
various sectors such as Consumer electronics, Healthcare, Retail industry,
Utilities, Automotive sector, and Home Automation, among others. These sectors
are setting growth opportunities for the market by accelerating its demand. The
development of advanced technologies like the internet of things, Artificial
intelligence, and machine learning drive the M2M Communication Market.
COVID-19 Impact:
The
COVID 19 has negatively affected the M2M Communication Market. Despite the
negative effects, the market continued to rise back by targeting the
opportunities during the challenging period. The market faced huge revenue loss
during this period. The lockdown has badly affected the M2M Communication
Market, which led to numerous challenges to the sales sector. The factors such
as the risk of declining production, supply and distribution, lack of
workforce, and lesser development activities have decreased the demand and
supply.
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Segmentation:
The M2M Communication Market is segmented based on technology,
component, sales channels, and application.
The market's technology segment comprises 4G/LTE, Wi-Fi, Ethernet,
Power-Line, and others. The component type consists of various components such
as actuators, sensors, memory, RFID, power, and communication Modules.
The application segment under form segment includes the usage of
M2M in consumer electronics, information technology (IT), retail,
transportations and automotive, healthcare, security, and others.
Based
on application, the market is listed into organizations, traders, importers,
exporters, suppliers, pharmaceutical industry, and end-users. Manufacturers,
government agencies, partners and industry bodies, investors, and trade experts
fall under the segment.
Regional
Analysis
North
America is expected to witness a significant growth and hold the largest market
share during the forecast period. U.S and Canada are anticipated to drive the
growth of the M2M communication market in
North America owing to the presence of a large number of established key
players such as Aeris communication. Inc., AT&T, Inc., Cisco Systems Inc.,
Telenor Group, Intel Corporation, Singtel Group, Texas Instruments, Vodafone
Group plc., Verizon Communications, Inc., Sprint Corporation and Telefonica,
S.A. among others. Also, U.S. is leading the market in North America due to the
rising demand of cloud based services and high-speed networks that enable easy access,
analysis and manipulation of stored data transaction to help customers to
improve their business operations. Also, due to the drastic fall in the usage
of native applications and a considerable shift towards the adoption of cloud
based applications in the region, the market is likely to show immense growth
in the coming future. M2M communication market in Asia Pacific is expected to
grow at a substantial CAGR during 2017 to 2022 due to increasing adoption of
smartphones and digital solutions such as smart meters in China and India in
the region. Whereas, the Europe market for M2M Communication is expected to
grow at a considerable CAGR (2017-2022). Europe is expected to register healthy
growth in the machine to machine communication market due to industrial
developments as well as infrastructural growth.
Competitive
Analysis
Aeris
communication. Inc. (U.S.), AT&T, Inc. (U.S.), Deutsche Telekom AG
(Germany), Cisco Systems Inc. (U.S.), Telenor Group (Norway), KORE Wireless
Group (U.S.), Intel Corporation (U.S.),
Rogers Communications Canada, Inc. (Canada), Singtel Group (Singapore),
Texas Instruments (U.S.), Vodafone Group
plc. (UK), Verizon Communications, Inc. (U.S.), Sprint Corporation (U.S.),
Telefonica, S.A. (Spain), China Mobile Ltd. (China), Numerex Corp. (U.S.), Sierra Wireless
(Canada), and Orange S.A. (France) are some of the prominent players profiled
in MRFR Analysis and are at the forefront of competition in the Global M2M
Communication Market.
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