According to the latest market research report "Machine-to-Machine (M2M) Connections Market by Technology (Wired, Wireless), Industry (Healthcare, Utilities, Retail, Consumer Electronics, Automotive & Transportation, Security & Surveillance), and Geography - Global Forecast to 2023", M2M connections market, the overall M2M connections market is expected to be worth USD 27.62 Billion by 2023, growing at a CAGR of 4.6% from 2017 to 2023.
The growing adoption of wired and wireless connectivity across various end-user industries is the key factor propelling the growth of the M2M connections market. Following this, the growing penetration of the Internet connectivity, favorable regulatory mandates, and growing adoption of new connectivity technologies such as 4G/LTE further drive the growth of the M2M connections market.
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Wireless technology is expected to hold the largest market share from 2017 to 2023
The M2M connections market for wireless connectivity technology is expected to hold the largest market share from 2017 to 2023. The ubiquitous presence of wireless connectivity-enabled products such as wireless beacons, mobile point of sale (MPoS) devices, and patient health monitoring devices is the prime factor driving the growth of the market for wireless connectivity technology in the machine to machine connections market. Alongside this, the falling prices of wireless connectivity chipsets and the growing demand from applications such as in-car infotainment, connected factories, and smart homes is further accelerating the demand for wireless connectivity technology in the M2M connections market.
M2M connections for the automotive and transportation sector to witness the highest CAGR from 2017 to 2023
The M2M connections market for the automotive and transportation end-user industry is expected to grow at the highest rate during the forecast period. The growing penetration of connected cars with embedded telemetry and smart in-car infotainment systems is driving the growth of this end-user industry in the M2M connections market.
Americas to lead the M2M connections market in terms of market size
The Americas held the largest share of the M2M connections market in 2016. In the Americas, North America is one of the fastest-growing markets owing to factors such as technological advancements, advanced infrastructure, and higher disposable income. The wide-scale adoption of M2M connectivity technologies in several industries such as manufacturing, healthcare, BFSI, and transportation and automotive is the key factor supporting the growth of the M2M connections market in this region.
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The companies that are profiled in the report are AT&T, Inc. (US), Cisco Systems, Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Texas Instruments Incorporated (US), Intel Corporation (US), Gemalto N.V. (Netherlands), Vodafone Group PLC (UK), Murata Manufacturing Co., Ltd. (Japan), U-blox Holding AG (Switzerland), Fanstel Corporation (US), and Commsolid GmbH (Germany).