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Machine to Machine (M2M) Services Market - Growth, Trends, and Forecast (2022 - 2030)
SKU ID : INH-14245010 | Publishing Date : 01-May-2019 | No. of pages : 120
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Market Overview
The machine to machine (M2M) services market is expected to grow at CAGR of 28.61% during the forecast period (2019 - 2024). Currently, the world is moving towards Industry 4.0 where analytics, artificial intelligence (AI) and the internet of things (IoT) drive intelligence, decision-making, and productivity. This in return is creating a huge opportunity for the machine to machine services market.
- Following this, the adoption of wired or wireless connectivity across different industries is also fueling the market. In addition, the penetration of high-speed internet connectivity and growing adoption of new connectivity technologies such as 4G/LTE and 5G is further driving the growth of the M2M connections market.
- For instance, in October 2018, The Cisco 819 Non-Hardened 4G LTE Integrated Services Routers (ISR) are Software routers which support for 4G LTE wireless WAN and WLAN capabilities. They are deployable and secure and are designed specifically for machine-to-machine (M2M) applications. Markets that benefit from these applications include small business, financial, healthcare, and retail. They deliver features like highly secure data, voice, and video communications to stationary and mobile network nodes across wired and wireless links.
- Apart from the connectivity, increasing software application integration for product enhancements and adoption of various technologies in manufacturing products to become cost-effective and meet safety regulations are the factors which are expected to support the growth.
- However, on the contrary, the high cost of installation of this technology and its maintenance are some of the challenges faced by the market which is restraining its growth.
Scope of the Report
Machine to machine (M2M) services refers to a broad term used to define any technology that allows network devices to exchange information and perform an action without any physical assistance of human beings. M2M services are used across different industry, such as in retail, banking & financial institutions, telecom & IT industry, healthcare, automotive, oil & gas, and transportation to enhance the safety, productivity, and efficiency of the establishments. Remote monitoring, warehouse management, supply chain management, remote control, robotics, traffic control, security, logistics and fleet management, and autonomous automotive are some of the trending applications of M2M.
Key Market Trends
Telecom Industry to Witness Significant Growth Among Other End-user Verticals
- Cellular-based M2M is added connectivity process among distinct sim-enabled machines, to provide connectivity over multiple wireless networks. Cellular M2M Value Added Services is being incorporated in many enterprises to ensure operational efficiency and to minimize losses associated with operational breaches.
- The cellular-based (M2M) is expected to grow during the forecast period because of the introduction of government policies which enables a wider deployment of cellular M2M in key sectors such as utilities, smart cities, automotive and healthcare. For instance, the European Commission had initially proposed that legislation for the introduction of the eCall public safety answering point (PSAP) system would be in place by the end of 2015. However, adoption by the EU member states has been slower than projected hence most recently the deadline for implementation of the eCall PSAP system has been postponed by a few years.
- Further, Cisco predicted that by 2022, global mobile devices will grow from 8.6 billion in 2017 to 12.3 billion by 2022. Such huge growth will in return have a positive impact on the M2M market.
Asia-Pacific to Witness the Fastest Growth
- Asia-Pacific region comprises of two largest economies of the world i.e. China and India and these two regions development initiatives are growing year on year. Cisco predicts that the IP traffic in the Asia-Pacific will reach 172.7 Exabytes per month by 2022, growing at a CAGR of 32% which is the highest among other nations of the world. The region will also have13.1 billion networked devices or connections, up from 8.6 billion in 2017. This increase will have a pragmatic impact on M2M services market.
- Further, government initiatives like smart cities, smart meter and policies enabling a wider deployment of cellular M2M initiative will help the M2M services market to grow.
- For instance, in February 2018, in India, one of the fastest growing markets for M2M services, the Department of Telecommunications (DoT) has approved telecom service providers to start issuing 13-digit digit numbers for SIM-based machine-to-machine (M2M) services. This scenario is expected to increase the number of M2M services provided the telecom vendors in the region
Competitive Landscape
The competitive landscape for the machine to machine (M2M) services market is highly competitive and fragmented because of the presence of many major players. The players in this market are highly innovative. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by these companies to sustain the intense competition. Key market players in the global market are Huawei Technologies Co. Ltd, Cisco Systems Inc., Google Inc., Intel Corporation, IBM, and other prominent players.
- March 2019 - Nokia announced that it will partner with Pöyry, an international consulting and engineering company, and Infosys, to further enhance and accelerate the adoption of KRTI 4.0(TM), an artificial intelligence (AI) framework for operational excellence. The KRTI 4.0(TM) framework applies AI, cognitive/machine learning and machine-to-machine (M2M) capabilities to the industrial environment and addresses complex and expensive lifecycle management challenges faced by the industry, utilities, transportation, and infrastructure organizations across operational technology (OT) systems.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The machine to machine (M2M) services market is expected to grow at CAGR of 28.61% during the forecast period (2019 - 2024). Currently, the world is moving towards Industry 4.0 where analytics, artificial intelligence (AI) and the internet of things (IoT) drive intelligence, decision-making, and productivity. This in return is creating a huge opportunity for the machine to machine services market.
- Following this, the adoption of wired or wireless connectivity across different industries is also fueling the market. In addition, the penetration of high-speed internet connectivity and growing adoption of new connectivity technologies such as 4G/LTE and 5G is further driving the growth of the M2M connections market.
- For instance, in October 2018, The Cisco 819 Non-Hardened 4G LTE Integrated Services Routers (ISR) are Software routers which support for 4G LTE wireless WAN and WLAN capabilities. They are deployable and secure and are designed specifically for machine-to-machine (M2M) applications. Markets that benefit from these applications include small business, financial, healthcare, and retail. They deliver features like highly secure data, voice, and video communications to stationary and mobile network nodes across wired and wireless links.
- Apart from the connectivity, increasing software application integration for product enhancements and adoption of various technologies in manufacturing products to become cost-effective and meet safety regulations are the factors which are expected to support the growth.
- However, on the contrary, the high cost of installation of this technology and its maintenance are some of the challenges faced by the market which is restraining its growth.
Scope of the Report
Machine to machine (M2M) services refers to a broad term used to define any technology that allows network devices to exchange information and perform an action without any physical assistance of human beings. M2M services are used across different industry, such as in retail, banking & financial institutions, telecom & IT industry, healthcare, automotive, oil & gas, and transportation to enhance the safety, productivity, and efficiency of the establishments. Remote monitoring, warehouse management, supply chain management, remote control, robotics, traffic control, security, logistics and fleet management, and autonomous automotive are some of the trending applications of M2M.
Key Market Trends
Telecom Industry to Witness Significant Growth Among Other End-user Verticals
- Cellular-based M2M is added connectivity process among distinct sim-enabled machines, to provide connectivity over multiple wireless networks. Cellular M2M Value Added Services is being incorporated in many enterprises to ensure operational efficiency and to minimize losses associated with operational breaches.
- The cellular-based (M2M) is expected to grow during the forecast period because of the introduction of government policies which enables a wider deployment of cellular M2M in key sectors such as utilities, smart cities, automotive and healthcare. For instance, the European Commission had initially proposed that legislation for the introduction of the eCall public safety answering point (PSAP) system would be in place by the end of 2015. However, adoption by the EU member states has been slower than projected hence most recently the deadline for implementation of the eCall PSAP system has been postponed by a few years.
- Further, Cisco predicted that by 2022, global mobile devices will grow from 8.6 billion in 2017 to 12.3 billion by 2022. Such huge growth will in return have a positive impact on the M2M market.
Asia-Pacific to Witness the Fastest Growth
- Asia-Pacific region comprises of two largest economies of the world i.e. China and India and these two regions development initiatives are growing year on year. Cisco predicts that the IP traffic in the Asia-Pacific will reach 172.7 Exabytes per month by 2022, growing at a CAGR of 32% which is the highest among other nations of the world. The region will also have13.1 billion networked devices or connections, up from 8.6 billion in 2017. This increase will have a pragmatic impact on M2M services market.
- Further, government initiatives like smart cities, smart meter and policies enabling a wider deployment of cellular M2M initiative will help the M2M services market to grow.
- For instance, in February 2018, in India, one of the fastest growing markets for M2M services, the Department of Telecommunications (DoT) has approved telecom service providers to start issuing 13-digit digit numbers for SIM-based machine-to-machine (M2M) services. This scenario is expected to increase the number of M2M services provided the telecom vendors in the region
Competitive Landscape
The competitive landscape for the machine to machine (M2M) services market is highly competitive and fragmented because of the presence of many major players. The players in this market are highly innovative. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by these companies to sustain the intense competition. Key market players in the global market are Huawei Technologies Co. Ltd, Cisco Systems Inc., Google Inc., Intel Corporation, IBM, and other prominent players.
- March 2019 - Nokia announced that it will partner with Pöyry, an international consulting and engineering company, and Infosys, to further enhance and accelerate the adoption of KRTI 4.0(TM), an artificial intelligence (AI) framework for operational excellence. The KRTI 4.0(TM) framework applies AI, cognitive/machine learning and machine-to-machine (M2M) capabilities to the industrial environment and addresses complex and expensive lifecycle management challenges faced by the industry, utilities, transportation, and infrastructure organizations across operational technology (OT) systems.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
