Pune, India -- (SBWIRE) -- 08/10/2018 -- Market Highlights:
The Machine to Machine (M2M) communication is a type of data communication technology that enables the devices such as sensors or meter to share information automatically with other devices and perform necessary action through a network which can be wired, wireless or hybrid without human intervention. M2M communication is often used for remote monitoring to capture an event and transfer data between mechanical or electronic devices.
Technology has progressed significantly in the recent times due to the development of devices that can communicate with each other without human interference. Market Research Future who specialize in market reports connected to information & communication technology sector amongst others lately made available a report on this sector. The industry will grow at a CAGR of 10 per cent in the forecast period.
The growth potential of this market has spurred increased investor interest and intensive focus on R & D activities. Increased applications in carious domains have also been instrumental for the growth of the market. Presence of a strong mobile network has encouraged further developments in the market which will sustain the growth trajectory of this industry in the forecast period.
The concept of machine of machine learning has evolved rapidly in the past few years greatly, so as to include different domains. Market Research Future which concentrates on market reports linked to the electronics and semiconductors sector amongst others recently made available a report on this sector. The Machine-to-Machine connections industry worldwide is expected to demonstrate revenue growth at USD $ 27.05 Billion by the year 2023 while growing at 9.9 per cent CAGR between the years 2017 to 2023.
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Major Key Players
The prominent players in the market of M2M Communication are- Aeris communication. Inc. (U.S.), AT&T, Inc. (U.S.), Deutsche Telekom AG(Germany), Cisco Systems Inc. (U.S.), Telenor Group(Norway), KORE Wireless Group(U.S.), Intel (U.S.), Rogers Communications Canada, Inc. (Canada), Singtel Group (Singapore), Texas Instruments (U.S), Vodafone Group plc.(U.K.), Verizon Communications, Inc.(U.S.), Sprint Corporation(U.S.), Telefónica, S.A.(Spain), China Mobile Ltd. (China), Numerex Corp.(U.S.), Sierra Wireless (Canada), and Orange S.A.(France) among others.
Hence, Globally the M2M Communication market is expected to grow at ~10% CAGR (2016-2022).
The M2M communication market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
Segmentation by Technology: Comprises of Wired, Wireless and Hybrid
Segmentation by Component: Comprises of Wi-Fi, Sensors, RFID, and Software among others
Segmentation by Application: Comprises of Consumer Electronics, Healthcare, Retail, Automotive, Utilities, and Home Automation among others
Segmentation by Region: Comprises
Detailed Regional Analysis
In the M2M communication industry context, The North American region is controlling the market owing to the prospects accessible for M2M communication by mobile operators which will grow the connection and revenue of this industry. In terms of the revenue generation context, The U.S. is driving the market in the North American region owing to the increasing demand of high-speed networks and cloud based services in the U.S. that allows analysis, easy access and handling of stored data transactions to aid clients to develop their business processes.
On the other hand, the European market is estimated to record vigorous progress in the Machine to Machine Communication sector owing to industrial expansion as well as infrastructural development. The M2M Communication industry is also growing owing to the high adoption rates in security, transportation, warehouses and surveillance among others. Due to these factors, the European markets is the second biggest market for M2M Communication. The Asia-Pacific region has appeared as a swiftly developing market owing to growing implementation of digital solutions such as smart meters and smartphones in India and China. The improving economic circumstances, increase in industrial growth and initiatives by the government such as 'Digital India' are also supporting the market development favorably.
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