Machine to Machine (M2M) Communication Market Size, Growth, COVID19 Impact Analysis on Industry Share, Global Demand and Forecast to 2027
M2M Communication Market Scenario
The global M2M communication market is expected to exhibit a strong 10% CAGR over the forecast period from 2020 to 2027, according to the latest research report from Market Research Future (MRFR). The global M2M communication market is expected to reach a valuation of USD 36 billion by 2027, according to the report. The report presents a detailed overview of the global M2M communication market’s historical and present growth trajectory, and makes accurate forecasts as to the market’s likely growth trajectory over the forecast period. The report thus presents a detailed overview of the global M2M communication market.
M2M communication is a suite of technologies by the use of which machines and sensors can relay data to each other, leading to corresponding actions in the machines. M2M communication is often used to enable sensors and meters of various kinds to communicate their detection information to the machines responsible for taking actions based on the findings of the sensors and meters. This allows for wireless or wired operation of entire networks without human intervention. M2M communication is the basis of the Internet of Things (IoT), which is likely to be a major driver for the global M2M communication market over the forecast period. IoT has come into its own in recent years, with strong development seen in the IoT sector thanks to growing investment from major players in the market. The widespread applicability and functionality of IoT tools has led to widespread adoption of IoT technology in recent years, increasing the commercial scope for the global M2M communication market in the process. Growing demand for IoT in various industrial sectors is likely to be a major driver for the global M2M communication market over the forecast period.
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· The global M2M communication market is segmented on the basis of technology, component, application, and region.
· By technology, the global M2M communication market is segmented into wired, wireless, and hybrid.
· By component, the global M2M communication market is segmented into Wi-Fi, sensors, RFID, and software.
· By application, the global M2M communication market is segmented into consumer electronics, healthcare, retail, automotive, utilities, home automation, and others.
North America is the dominant regional market for M2M communication in the global market and is likely to retain this position over the forecast period due to the strong presence of various major market players in the region. Widespread adoption of IoT technology in various industries in North America has been a major driver for the M2M communication market in the region. The U.S. is the leading national market within North America.
Leading players in the global M2M communication market include Orange SA, Sierra Wireless, Numerex Corp., China Mobile Ltd., Telefonica SA, Sprint Corporation, Verizon Communications Inc., Vodafone Group plc, Texas Instruments Inc., Singtel Group, Rogers Communications Canada Inc., Intel, KORE Wireless Group, Telenor Group, Cisco Systems Inc., Deutsche Telekom AG, AT&T Inc., and Aeris Communication Inc.
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Table of Contents:
1 market introduction
2 research methodology
2.1 research type
2.2 primary research
2.3 secondary research
2.4 forecast model
2.4.1 market data collection, analysis & forecast
2.4.2 market size estimation
2.4.3 market crackdown & data triangulation
3 global m2m communicationmarket: overview
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