According to Goldstein Research, “Improved telecom research and development enables the emergence of advanced technology platforms such as 4G LTE among others which is the major factor driving the growth of M2M connections market.” High broadband usage, rising usage of smart devices and emergence of new telecommunication platforms are the key factors that led to development of M2M market.
The global machine to machine connection market is segmented based on technology and end users. Technology Segment is further bifurcated into wired and wireless. In 2016, wireless technology accounted for highest share in M2M connection market and expected to dominate the market over the forecast period. Growing adoption of short-range wireless connectivity technologies such as Wi-Fi, ZigBee for connectivity between smart phones and smart devices such as in car infotainment, patient monitoring devices, wireless beacons are driving the growth of wireless technology segment. The global machine to machine connection market is expected to increase at a CAGR of 10.4% over the forecast period i.e. 2016-2024.
Geographically, Asia-Pacific is the dominating market with more than 30% share in global machine to machine connection market. Asia-Pacific region accounted for USD 6.1 billion in 2016 and expected to grow at a compound annual growth rate of 17.3% over the forecast period. China is the dominating country in the regions with one third share of global M2M connections market.
Government Support and Initiatives: Major Impel
The government's proactive support and initiative for the development of IoT has benefitted the growth of M2M connection industry. For instance, China has invested more than USD 700 million in 2011 to support IoT in technological R&D, Industrialization and public service. Growing investment in IoT will fuel the demand for M2M services, which will boost overall market growth.
“Global Machine to Machine Connection Market Outlook 2024” contains detailed overview of the global machine to machine connection market in terms of market segmentation by technology type and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Machine to Machine Connection Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as AT&T Inc., Vodafone Group, Texas Instruments, Duetsche Telecom AG, Siera Wireless, China Mobile Ltd, Cisco System Inc., Huawei Technologies Co. Ltd, Intel Corporation, Sprint Corporation, Gemalto NV etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global machine to machine connection market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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