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Machine to Machine Communication Market by Communication Technology (Wired, Wireless), By Component (Sensors, Computer software), By Technology (Short Range, Cellular), By Industry (Manufacturing, Healthcare, Transportation)-With Forecast-(2016-2021)
The machine to machine communication is a type of communication technology that is used to exchange information between networked devices such as computers, mobile devices, actuators, processors and smart sensors among others over wired or wireless communication channels without the human intervention. The M2M communication technology offers various benefits such as remote monitoring & control, Low power consumption, superior transparency & efficiency, optimization among others in order to help the enterprises by reducing the overall cost of equipment while improving the quality of service.
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M2M Communication Market
The Machine to Machine Communication market is showing major growth due to the increasing demand for cloud-based services along with strong communication network worldwide. The growing adoption of Internet-of-Things (IoT) among various enterprises and government standards & regulations are some of the major driving factors for M2M communication market. The Rapid technological advancements in the communication and sensor technology are also fuelling the growth of M2M communication market.
The M2M Market is expected to reach $37 billion by 2022, at a CAGR of 11% between 2016 and 2022.
However, the high investment in the development and deployment of M2M with major Security and privacy concerns are also some of the restraining factors for M2M Communication Market.
Segmentation of M2M communication market:
The Global M2M communication Market has been segmented into four major categories that include Communication channel, Component, Technology, and Industry.
On the basis of communication technology, the market has been segmented into wired, wireless and hybrid. On the basis of components, into Sensors, Computer software, Cellular Communication link, RFID among others. On the Basis of technology into Short Range, Cellular, and Satellite. On the basis of Industry in Transportation, Manufacturing, Healthcare, Commerce & Retail, Energy & power, Telecom & IT, Security & Surveillance among others.
The market is further segmented by geography into North America, Asia Pacific, Europe and the rest of the world regions. According to the report, the North-America is expected to lead the market followed by Asia-pacific and Europe.
M2M Communication Market Trends
The major key players in the M2M communication market are Nokia Corporation (Finland), AT&T Inc. (U.S.), Cisco Systems, Inc. (U.S.), Deutsche Telekom AG (Germany), Telefónica, S.A. (Spain), Telenor Group (Norway), Sierra Wireless (Canada), IBM Corporation (U.S.), Singtel Group (Singapore), Intel Corporation, Vodafone Group Plc. (U.K.), KORE Wireless Group (U.S.) among others.
This research report provides –
- The in-depth analysis of this market based on the respective segmentation and market size including major geographies & current market trends.
- It offers a comprehensive study of market dynamics, major industry growth, and restraining factors along with forecasting of the market in coming years.
- The Report includes recent development and trends in the global market with detailed competitive landscape and identification of the major key players along with complete value chain analysis.