Global Machine-to-Machine (M2M) Connections Market to Reach $27.6 Billion by 2023: Analysis By Technology & End User Industry
DUBLIN, July 19, 2017 /PRNewswire/ --
The "Machine-to-Machine (M2M) Connections Market - Global Forecast to 2023" report has been added to Research and Markets' offering.
The machine-to-machine (M2M) connections market is expected grow from USD 19.31 Billion in 2016 to USD 27.62 Billion in 2023, at a CAGR of 4.6% from 2017 to 2023. The number of M2M connections was 1.47 Billion connections in 2016 and is estimated to reach 3.00 Billion by 2023. The major drivers for the growth are the growing penetration of the Internet in emerging economies and favorable regulatory mandates. Moreover, the increasing M2M connections in various industries and the growing adoption of new connectivity technologies such as 4G/LTE and Bluetooth Smart/BLE further accelerate its market growth.
In the connectivity technology segment, wireless technology holds the largest share of the M2M connections market in terms of the number of connections. Moreover, market for wireless technology is expected to grow at the highest rate in the M2M connections market from 2017 to 2023. The growing adoption of short-range wireless connectivity technologies such as Wi-Fi, Bluetooth, and ZigBee for multiple applications such as in-car infotainment systems, patient monitoring devices, wireless beacons, and smart appliances is driving the growth of the market for the wireless technology segment. Moreover, the substantial penetration of cellular services globally and increasing adoption of 4G/LTE cellular technology is further driving the growth of the wireless connectivity technology in the M2M connections market.
Among the various end-user industries covered in this report, automotive and transportation held the largest market share, followed by the utilities vertical. The growing number of connected cars and the development of vehicle-to-vehicle and vehicle-to-infrastructure framework is driving the growth of this sector. The development of smart city projects and favorable regularity mandates for the adoption of smart grids and smart meters is expected to lead to the high CAGR of the market for utilities.
Companies Mentioned
- Afero Inc. (US)
- AT&T Inc. (US)
- China Mobile Ltd. (China)
- Cisco Systems Inc. (US)
- Commsolid GmbH (Germany)
- Deutsche Telekom AG (Germany)
- ElefonaKTiebolaget Lm Ericsson (Sweden)
- Fanstel Corporation (US)
- Gemalto N.V. (Netherlands)
- Huawei Technologies Co. Ltd. (China)
- Idefigo Group Limited (New Zealand)
- Intel Corporation (US)
- Kore Wireless Group (US)
- Meshify Inc. (US)
- Murata Manufacturing Co. Ltd. (Japan)
- NXP Semiconductors N.V. (Netherlands)
- Orange S.A. (France)
- Sierra Wireless Inc. (Canada)
- Sprint Corporation (US)
- Telefonica S.A (Spain)
- Telit Communications (UK)
- Texas Instruments Incorporated (US)
- U-Blox Holding AG (Switzerland)
- Verizon Communication Inc. (US)
- Vodafone Group PLC (UK)
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 M2M Connections Market, By Technology
7 M2M Connections Market, By End-User Industry
8 Geographic Analysis
9 Competitive Landscape
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/kw3rzp/machinetomachine
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