MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

M2M Connections Market by Technology, Industry and Geography - Global Forecast to 2023

M2M Connections Market by Technology, Industry and Geography - Global Forecast to 2023

According to the new market research report, the machine-to-machine (M2M) connections market is expected to be worth USD 27.62 billion, growing at a CAGR of 4.6% from 2017 to 2023. The number of M2M connections was 1.47 Billion connections in 2016 and is estimated to reach 3 Billion by 2023.The major drivers for the growth are the growing penetration of the Internet, favorable regulatory mandates, increasing M2M connections among various industry verticals, and growing adoption of connectivity technologies such as 4G/LTE and Bluetooth Smart/BLE.

In the connectivity technology segment, wireless technology holds the largest share of the M2M connections market in terms of the number of connections. The market for wireless technologies is expected to witness the highest CAGR from 2017 to 2023. This is mainly because wireless connectivity offers various advantages over wired connectivity such as increased mobility and collaboration, improved responsiveness, better access to information, easier network expansion, and enhanced guest access.

The automotive and transportation sector held the largest share of the M2M connections market followed by the utilities vertical. The growing number of connected cars and the development of vehicle-to-vehicle and vehicle-to-infrastructure framework are driving the growth of this sector. The development of smart city projects and favorable regularity mandates for the adoption of smart grids and smart meters is expected to lead to the high CAGR of the market for utilities.

YOU MAY ALSO LIKE

Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...

RECOMMENDED