28.33% CAGR in Machine to Machine (M2M) Services Market by Application (automotive, healthcare, utilities, retail, and others), Technology (wireless and wired), and Geography (APAC, North America, Europe, South America, and Middle East and Africa) | Technavio

Press Releases

Feb 13, 2024

NEW YORK, Feb. 12, 2024 /PRNewswire/ — The Machine to Machine (M2M) Services Market size is expected to increase by USD 59.17 billion between 2022 and 2027, with a CAGR of 28.33%. In the APAC region, projected to contribute 31% to global market growth, factors such as burgeoning urban populations and rising disposable incomes are fueling demand for technologically advanced passenger and commercial vehicles, boosting fleet management and safety solutions. Concurrently, there’s a surge in demand for car-sharing services, prompting service providers to adopt machine-to-machine (M2M) mobility solutions for enhanced operational efficiency. Additionally, the escalating prevalence of chronic diseases necessitates remote healthcare solutions, spurring demand for connected devices facilitating remote consultations and data analysis. These trends are driving growth in the APAC M2M services market for B2B clientele. For more information on market drivers, trends, or challenges, find the sample report here.

Report Coverage

Details

Page number

176

Base year

2022

Historic period

2017 – 2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 28.33%

Market growth 2023-2027

USD 59.17 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

27.31

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 31%

Key countries

US, China, Japan, India, and UK

The Market is set for exponential growth, driven by escalating demand for connectivity, innovative satellite technologies, and the integration of AI and ML. The industry is defined by trends that emphasize its adaptability and transformative potential, such as its application in supply chain optimization and the automotive sector. While the challenges posed by hybrid networks necessitate strategic responses, the overarching trajectory points toward a future where M2M services play a pivotal role in redefining industries and enhancing human experiences. 

The report also includes detailed analyses of the competitive landscape and information about 15 companies, including:

  • Alphabet Inc.
  • Amdocs Ltd.
  • AT and T Inc.
  • Cisco Systems Inc.
  • Comarch SA
  • Huawei Technologies Co. Ltd.
  • Intel Corp.
  • Telefonaktiebolaget LM Ericsson
  • Orange SA
  • Rogers Communications Inc.
  • Semtech Corp.
  • Telefonica SA
  • Telit IoT Platforms LLC
  • Thales Group
  • Verizon Communications Inc.
  • Vodafone Group Plc
  • Aeris Communications Inc. Technavio provides the Analysis Report 2023-2027 along with the historical data! Buy the full report here.

The Machine-to-Machine Services Market is witnessing rapid growth fueled by advancements in artificial intelligence (AI) and the Internet of Things (IoT). Machine-to-machine (M2M) communications and machine-type communication (MTC) enable seamless exchange of sensed data and information among devices, driving efficient decision-making processes. This synergy creates a network of collaborating machines that operate autonomously, with minimal human involvement. AI algorithms analyze vast datasets generated by IoT devices, optimizing operations and predicting maintenance needs. Such innovations revolutionize industries like manufacturing, transportation, and healthcare, enhancing productivity and reducing costs. As businesses increasingly rely on interconnected devices, the M2M services market is poised for exponential growth, unlocking new opportunities and transforming traditional business models.

Below, find a few suggestions:

Machine Tools Market: The share is expected to increase by USD 24.32 million from 2021 to 2026, and the growth momentum will accelerate at a CAGR of 4.58%. The report covers the segmentation by end-user (automotive, industrial machinery, precision engineering, transportation, and others) and geography (APAC, Europe, North America, the Middle East and Africa, and South America).

Metal Sawing Machine Market: The share is expected to increase by USD 770.42 million from 2021 to 2026, and the growth momentum will accelerate at a CAGR of 4.29%. The report covers segmentation by end-user (automotive, general machinery, aerospace and defense, marine, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America).

About Technavio:

Technavio is a trusted source for industry news and insights that help businesses stay ahead in today’s competitive landscape. With a team of experienced analysts and researchers, we continuously scrutinize and evaluate the dynamic landscape across the globe. Our comprehensive coverage, meticulous research methodologies, and pragmatic industry expertise have earned US the trust and reliance of a vast clientele, including over 100 esteemed Fortune 500 organizations.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/28-33-cagr-in-machine-to-machine-m2m-services-market-by-application-automotive-healthcare-utilities-retail-and-others-technology-wireless-and-wired-and-geography-apac-north-america-europe-south-america-and-middle-302060000.html

SOURCE Technavio

YOU MAY ALSO LIKE

U.S. Space & Rocket Center brings in…

NEW YORK, Feb. 12, 2024 /PRNewswire/ -- The Machine to Machine (M2M) Services Market size is expected to increase by USD 59.17 billion between 2022…

read more

Maryland-Based Edtech Startup Mindgrasp AI Expands, Adding…

NEW YORK, Feb. 12, 2024 /PRNewswire/ -- The Machine to Machine (M2M) Services Market size is expected to increase by USD 59.17 billion between 2022…

read more

Tredence Named a Leader in ISG 2023…

NEW YORK, Feb. 12, 2024 /PRNewswire/ -- The Machine to Machine (M2M) Services Market size is expected to increase by USD 59.17 billion between 2022…

read more