How big is the machine-to-machine (m2m) market today, and what are its future growth expectations?
The machine-to-machine (M2M) market size has grown strongly in recent years. It will grow from $33.71 billion in 2024 to $36.52 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased demand in the IT and telecom sectors, increasing demand for commercial and passenger vehicles, an increase due to its requirement in various industrial sectors, and a rise in internet usage.
The machine-to-machine (M2M) market size is expected to see strong growth in the next few years. It will grow to $49.79 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to 5g adoption, edge computing, AI integration, data analytics growth, IoT expansion, and enhanced security needs .Major trends in the forecast period include real-time data processing, cloud-based solutions, predictive maintenance, cross-industry collaborations, energy efficiency focus, customized service offerings.
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What have been the primary factors driving the machine-to-machine (m2m) market’s growth?
The growing popularity of internet of things (IoT) devices is expected to propel the growth of the machine-to-machine (M2M) market going forward. Internet of things (IoT) devices are interconnected gadgets that communicate and exchange data through the Internet. The rise of IoT devices is due to several factors such as advancements in technology, increased connectivity and bandwidth, declining costs of sensors and hardware, the growing need for automation and data-driven decision-making, and widespread adoption of cloud computing. Machine-to-machine (M2M) in IoT devices enables direct communication and data exchange between devices without human intervention, optimizing automation and efficiency. For instance, in 2023, according to a report published by Ericsson, a Sweden-based telecommunications company, total IoT connections reached 15.7 billion connections in 2023 and are expected to increase by 16% to 38.8 billion connections by 2029. Therefore, the growing popularity of internet of things (IoT) devices is driving the growth of the machine-to-machine (M2M) market.
What are the key segments within the machine-to-machine (m2m) market?
The machine-to-machine (M2M) market covered in this report is segmented –
1) By Components: Sensors; Actuators; Memory; Radio Frequency Identification (RFID); Power Modules; Communication Modules
2) By Technology: Cellular Connections; Low Power Wide Area; Short Range; Metropolitan Area Network (MAN); Wide Area Fixed; Satellite
3) By Organization Size: Large Enterprises; Small And Medium-Sized Enterprise
4) By End-User: Retail Sector; Banking And Financial Institution; Telecom And Information Technology Industry; Healthcare; Automotive; Oil And Gas; Transportation; Other End-Users
Subsegments:
1) By Sensors: Temperature Sensors; Pressure Sensors; Proximity Sensors; Motion Sensors; Gas and Chemical Sensors; Light Sensors
2) By Actuators: Linear Actuators; Rotary Actuators; Electric Actuators; Pneumatic Actuators; Hydraulic Actuators; Piezoelectric Actuators
3) By Memory: Dynamic Random Access Memory (DRAM); Flash Memory; Non-Volatile Memory (NVM); Solid-State Drives (SSD); Embedded Memory
4) By Radio Frequency Identification (RFID): Active RFID Tags; Passive RFID Tags; RFID Readers; RFID Antennas; RFID Software Solutions
5) By Power Modules: Power Management ICs; Voltage Regulators; DC-DC Converters; AC-DC Power Converters; Battery Management Systems
6) By Communication Modules: Wi-Fi Modules; Bluetooth Modules; Zigbee Modules; LoRa Modules; Cellular Communication Modules (4G, 5G); Satellite Communication Modules
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Which key players are shaping the machine-to-machine (m2m) market?
Major companies operating in the machine-to-machine (M2M) market areVerizon Communications Inc., AT&T Inc., T-Mobile US Inc., Intel Corporation, Vodafone Group Plc, Cisco Systems Inc., Orange S.A., Qualcomm Incorporated, Hewlett Packard Enterprise Company, Telefonaktiebolaget LM Ericsson, Thales Group, ZTE Corporation, Infineon Technologies AG, NXP Semiconductors N.V., Rogers Communications Inc., Microchip Technology Incorporated, Telenor Group, Zebra Technologies Corporation, Amdocs Limited, Gemalto N.V., Advantech Co. Ltd., Comarch S.A., Telit Communications Plc, KORE Wireless Group Inc., Lantronix Inc., Laird Technologies Inc.
How will emerging trends drive the machine-to-machine (m2m) market throughout the forecast period?
Major companies operating in the machine-to-machine (M2M) market are focused on developing technologically innovative solutions, such as internet of things (IoT) platforms for machine-to-machine (M2M) operations, to provide more efficient, reliable, and scalable solutions that meet the growing demands of various industries. IoT platforms for machine-to-machine (M2M) refer to integrated software solutions that enable the seamless communication and management of devices and machines within a connected network. For instance, in August 2024, Hayo, a US-based company that manufactures smart home technology, launched its global internet of things (IoT) platform, designed to support both machine-to-machine (M2M) and consumer IoT applications. This versatile platform enables mobile network operators (MNOs) to white-label and resell it, tapping into the growing IoT market across various sectors such as agriculture, healthcare, and transportation. The platform is powered by a cloud-native full-core network, which ensures high speed and performance for seamless communication and data sharing among devices. It employs advanced AI algorithms to analyze data and extract valuable insights, enhancing operational efficiency and automating processes for businesses.
How do regional factors impact the machine-to-machine (m2m) market, and which region is the largest contributor?
North America was the largest region in the machine-to-machine (M2M) market in 2024. The regions covered in the machine-to-machine (M2M) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Machine-To-Machine (M2M) Market Report 2025 Offer?
The machine-to-machine (m2m) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Machine-to-machine (M2M) refers to technologies that enable devices or machines to communicate and exchange information with each other without direct human intervention. It involves the exchange of data between machines through various communication channels, such as wired networks, wireless networks, or the Internet.
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