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Machine-to-machine (M2M) Connections Market worth $5.3 billion units by 2029 - Exclusive Report by MarketsandMarkets™CHICAGO, Feb. 9, 2024 /PRNewswire/ -- The machine-to-machine (M2M) connections market is projected to grow from USD 2.9 billion units in 2024 to USD 5.3 billion units by 2029, registering a CAGR of 12.7% during the forecast period according to a new report by MarketsandMarkets™. The market growth is attributed to increasing support by the government towards M2M connections and the growing popularity of smart cities and connected cars. Furthermore, the emergence of M2M devices in telemedicine is expected to create lucrative opportunities for the market. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=732 Browse in-depth TOC on "Machine-to-machine (M2M) Connections Market" 120 – Tables Machine Safety Market Machine-to-machine (M2M) Connections Market Report Scope:
The short range wireless technology machine-to-machine (M2M) connections segment is expected to account for the largest share of the machine-to-machine (M2M) connections market in 2024. The short-range segment is a significant market for machine-to-machine (M2M) connections. Short-range technologies have a larger number of connections than cellular because cellular wireless standards are mainly used for dubbing and aggregation purposes in applications such as hospitals, power plants, oil and gas refineries, retail stores, and smart appliances, while short-range modules are used for the distribution of the cellular network throughout that concerned area of application. Universal subscriber identity modules (USIMs) are not very suitable for application in M2M devices, which require modules with a higher level of resistance in severe environments, better robustness, and longer data retention. These attributes are available in Machine Identification Modules or M2M Identification Modules (MIM), which have been specifically developed for M2M applications. Unlike conventional SIMs, which are issued to general consumers, MIMs are used in machines communicating with each other. The high demand for these modules is indicative of the high growth of the cellular M2M connection market. The Automotive & Transportation segment is expected to account for the largest share of the machine-to-machine (M2M) connections market in 2024. The automotive & transportation segment accounted for the largest share of the machine-to-machine (M2M) connections market in 2024, and a similar trend is expected to be witnessed during the forecast period. The recent developments in automotive & transportation that are expected to drive the growth are: Public transportation, such as buses and trains, will transform through connectivity. Subway cars in New York City will be equipped with chargers, built-in Wi-Fi, and security cameras, according to the city's Metropolitan Transportation Authority. In June 2021, The European Union Funded the 5G-IANA project with over USD 7 million to develop an Automotive Open Experimental Platform (AOEP). The goal is to look into the market condition and identify opportunities for innovation and sustainable long-term development of 5G in the automotive sector. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=732 The Asia Pacific market is expected to witness the highest CAGR in the machine-to-machine (M2M) connections market during the forecast period. Asia Pacific is projected to record the highest CAGR during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the machine-to-machine (M2M) connections industry in Asia Pacific. Asia Pacific has been ahead of other regions in terms of the adoption of M2M connections products and solutions. Continuous demand for cost-effective and highly efficient M2M connections from consumer electronics, utilities, healthcare, automotive & transportation, among other industries is expected to drive the growth of the M2M connections market in this region. Furthermore, many countries in the Asia-Pacific region, such as China and India, have been actively investing in smart city projects. M2M connections play a crucial role in creating connected and intelligent urban environments and addressing issues related to transportation, energy, and public services. For instance, the Indian government has announced a plan to develop 100 smart cities in India. All industries are seeing a boom phase in the commercialization of IoT, particularly in Asia Pacific's developing nations. As a hub for significant investments and business expansion, the region has gained international attention. The high production and consumption of electronic devices in Asia Pacific are likely to drive significant growth in the area. Key players Key players in the machine-to-machine (M2M) connections companies include AT&T Intellectual Property (US), Cisco Systems, Inc. (US), Huawei Technologies (China), NXP Semiconductors N.V. (Netherlands), Texas Instruments Incorporated (US), Intel Corporation (US), China Mobile International Limited (China), Thales (France), Vodafone Group Plc (UK), Murata Manufacturing Co., Ltd. (Japan), U-Blox Holding AG (Switzerland), and among others. Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=732 Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting Related Reports: Cellular M2M Market by Service (Connectivity, Professional, and Managed), Application (Asset Tracking and Monitoring, Predictive Maintenance, Telemedicine, and Fleet Management), End User, Organization Size, and Region - Global Forecast to 2025 Wireless Connectivity Market by Connectivity (Wi-Fi, Bluetooth Classic, Bluetooth 4X, Bluetooth 5X, ZigBee, Z-Wave, UWB, NFC, Thread, GNSS, Cellular, EnOcean, Sigfox, LoRa, LTE Cat-M1, NB-IoT), End-use and Region - Global Forecast to 2027 U.S. Machine-to-Machine (M2M) Connections Market by Technology (Wired and Wireless), Industry Verticals (Healthcare, Utilities, Retail, Consumer Electronics, Automotive & Transportation, Security & Surveillance, and Others) - Forecast to 2020 IoT Chip Market Size, Share by Hardware (Processor, Connectivity IC, Sensor, Memory Device and Logic Device), Power Consumption, End-use Application (Wearable Devices, Consumer Electronics, Building Automation and Retail) and Region - Global Forecast to 2025 Wi-Fi Chipset Market by IEEE Standard (802.11be, 802.11ax, 802.11ac), End-use application (Consumer, Smarthome, AR/VR, Networking Devices), Band, MIMO configuration, Vertical and Geography About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. 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