Machine to Machine (M2M) Connections Market Outlook 2018 Sales Revenue, Strategy to 2025
The global machine to machine connections market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The market for machine to machine connection in Asia Pacific region accounted for largest share of the global machine to machine connections market in 2016. This growth is attributed to explosion of smart devices. China manufactures inexpensive sensors, which are responsible for increased penetration of smart devices such as wearable devices and smart home appliances. These smart devices collects data and zap is wirelessly connected to the internet, owing to increased number of smartphones utilization, which is propelling the demand for regional machine to machine connections. According to the State of Social Media and Messaging in Asia Pacific: Trends and Statistics published by RVC, a state fund of funds and the development institute of the Russian Federation, in 2016, around 3.42 billion internet users were representing around 46% of global population, 2.31 billion social media users were there delivering 31% of global penetration, and 1.97 billion mobile social media users were there equaling 27% of global penetration in Asia Pacific region.
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Machine-to-machine (M2M) technology refers to any technology that enables direct communication between network devices with the help of wired and wireless communication channel by exchanging information, interpreting data, and making decisions individually without human assistance.
Machine to machine connections are usually used in warehouse management, supply chain management, and remote monitoring. For instance, machine to machine connections enables a retailing machine to directly communicate with the distributor regarding any particular product stock whenever it is running low by sending him a message. Hence, it is very important for warehouse and retail sector. Moreover, it and be utilized for traffic control, telemedicine, and fleet management.
Major factors driving the growth of machine to machine market connections is increasing penetration of internet. Moreover, advancement in technologies and increasing adoption of 2G, 3G, and 4G Long-Term Evolution (LTE) cellular networks are favorable for global M2M market growth. For instance, according to Internet World Stats, in June 2017, total internet users count was around 3.89 billion, which is about 51.7% of the global population. Furthermore, substantial penetration of short range wireless technologies, which includes Bluetooth, Wi-Fi, and ZigBee are further expanding the role of machine to machine connections globally. These wireless connectivity technologies enables real time communication. They have applications in healthcare for patient monitoring devices, car infotainment systems, and smart appliances.
Mobile, other connected devices including wearables, and social media are key factors responsible for the evolution of machine to machine connections and have also accelerated overall growth of the market. These enables a new way of real time communication in cost effective way. For instance, according to Coherent Market Insights’ analysis, in 2016, over 68% of global population was already using mobile phones and the count of M2M connections were around 192 million in 2014 as compared to over 70 million in 2010. Machine to machine connections transmit data between mobile devices and the cellular network.
However, lack of standardization in connectivity protocols is the major restraining factor for the growth of the M2M connections market.
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