Machine To Machine M2m Market

Machine-to-Machine (M2M) Market Forecasts to 2030 - Global Analysis By Component (Sensors, Memory, Actuators, Radio Frequency Identification (RFID), Communication Modules and Power Modules), Technology (Wireless Technologies and Wired Technologies), End User and By Geography

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Published: 2023 ID: SMRC23860

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2023)

US $28.33 BN

Projected Year Value (2030)

US $44.32 BN

CAGR (2023 - 2030)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Machine-to-Machine (M2M) Market is accounted for $28.33 billion in 2023 and is expected to reach $44.32 billion by 2030 growing at a CAGR of 6.8% during the forecast period. Machine-to-machine technology permits independent operation and communication between two or more machines. Both wired and wireless systems may communicate with one another with regard to this technology. M2M technology supports automation, data exchange, and improved decision-making across a number of industries, boosting output and efficiency. It acts as the foundation for the larger IoT industry, where even more connected and data-exchange-capable products, including consumer goods, are accessible.

According to a study conducted by Idate on the years 2013 to 2017, the global M2M market displayed average annual growth of 30% in volume and 13% in value.

Market Dynamics:


Rising popularity of smart cities

Machine-to-Machine (M2M) communication is essential for the growth and operation of smart cities. Urban settings become more effective and sustainable as a result of the ability for diverse devices and systems to connect and share information in real-time. Demand-response systems, grid monitoring, and renewable energy sources may all be integrated in smart cities due to M2M communication. Additionally, it encompasses water management, smart transportation, public safety, and security. These factors collectively fuel market expansion.


Security vulnerabilities

Malware infections and DoS attacks against M2M systems can damage their functionality and be exploited to launch further attacks against the network. When an attacker has physical access to an M2M device, they may compromise or alter its functionality. Data in transit that is not properly encrypted can be intercepted and eavesdropped on by hostile parties. Additionally, the market expansion is hindered by weak authentication and authorization, insufficient encryption, unsecure configuration settings, phishing attacks, insufficient logging, physical security concerns, and environmental risks.


Growing penetration of 2G & 3G

M2M technology is utilised in the context of 2G and 3G networks to allow a variety of applications and services. The connectivity required to send alarms and video feeds to monitoring stations or mobile devices is provided by 2G and 3G networks. M2M applications running on 2G and 3G networks provide higher data rates, reduced latency, and better support for large-scale IoT installations, making them a more and more popular choice for M2M communication in contemporary applications.


High deployment cost

The manufacturing and deployment of M2M communication devices, such as sensors, actuators, and communication modules, can be expensive. These components can be expensive depending on their calibre, power, and toughness. Professionals with the necessary skills are frequently needed to integrate hardware, setup software, and set up the network infrastructure for M2M solution implementation. Specialised expertise and labour charges may be needed for this. Additionally, expenses for periodic maintenance and resolving unforeseen problems raise the entire cost.

Covid-19 Impact

The Machine-to-Machine (M2M) market was adversely affected by the COVID-19 epidemic. Global supply chains were interrupted by the pandemic, which had an impact on the manufacturing and distribution of M2M components and devices. M2M system deployments and installs were delayed as a result. To deal with the problems the epidemic presented, governments and regulatory authorities put several measures into place. To adjust to the shifting business environment, businesses accelerated their digital transformation activities, integrating M2M communication among other things. This pushed the deployment of digital technology across sectors accelerating the market demand.

The sensors segment is expected to be the largest during the forecast period

The sensors segment is estimated to have a lucrative growth. Sensors are the responsible components for gathering data from the physical world and transmitting it to the M2M system for processing and analysis. Sensors in M2M systems connect with other components or systems utilising a variety of protocols, including MQTT, CoAP, HTTP, and manufacturer-specific protocols. Numerous M2M applications, such as industrial automation, smart cities, remote patient monitoring in healthcare, soil moisture sensors in agriculture, automobile diagnostics, and more, require sensors.

The wireless technologies segment is expected to have the highest CAGR during the forecast period

The wireless technologies segment is anticipated to witness the fastest CAGR growth during the forecast period. Wireless M2M enables the integration of several smart appliances, security systems, and thermostats, giving homeowners remote access to manage and observe their surroundings. Real-time inventory tracking is done to make sure that items are accessible when customers need them. The category growth is boosted by its real-time inventory data, scalability, lower installation costs, improved dependability, and redundancy.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. North America is the most advanced region due to its technological advancements. In order to keep up with technological advancements, the leading industry participants in the region, including AT&T, Verizon, and Cisco, continuously spend in enhancing and extending their infrastructure. Additionally, the United States has the second-highest rate of 5G adoption in the world. Growing partnerships and collaborations to develop connectivity solutions and IT infrastructures are promoting market expansion in the region.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. Digital technologies like IoT, AI, and Cloud are being adopted by China and India. The rollout of 5G connection in India has created a number of new opportunities to improve the speed and security of online transactions and Machine-to-Machine (M2M) interactions. Government programmes that enable a greater deployment of cellular M2M projects, including as smart cities, smart metres, and legislation, will also aid in the expansion of the M2M business in this region.

Key players in the market

Some of the key players profiled in the Machine-to-Machine (M2M) Market include Vodafone Group PLC, AT&T Inc., Cisco Systems Inc., Virscient Limited, NXP Semiconductors N.V., Texas Instruments Incorporated, Intel Corporation, Gemalto N.V., Huawei Technologies Co., Ltd., Murata Manufacturing Co., Ltd., U-Blox Holding AG, Fanstel Corporation, Commsolid GmbH, M2M Germany Gmbh, Revogi Innovation Co., Ltd., Telit Communications, Duetsche Telecom AG, Siera Wireless, Aeris Communications and Sensata Technologies.

Key Developments:

In December 2022, Aeris Communications announced plans to acquire Ericsson's IoT Accelerator and Connected Vehicle Cloud businesses. The agreement is expected to enable Aeris and Ericsson's IoT platforms to link over 100 million IoT devices worldwide in 190 different countries.

In June 2022, M2M Germany announced collaboration with Wattsense, a French technology company. M2M has developed into a full-service provider for digitizing buildings due to the rise in IoT sensor networks, including LoRaWAN, and the exponential growth of machine-to-machine (M2M) communication and smart networking. It supports 11 major field communication protocols.

In February 2022, Sensata Technologies announced the acquisition of Elastic M2M Inc., a privately held innovator of connected intelligence for operational assets in the heavy-duty transport, warehousing, supply chain and logistics, industrial, light-duty passenger car, and numerous other business segments. With the help of Elastic M2M's cloud platform and analytics capabilities, telematics service providers ("TSPs") and resellers can employ sensor-based operational data to inform their end users.

Components Covered:
• Sensors
• Memory
• Actuators
• Radio Frequency Identification (RFID)
• Communication Modules
• Power Modules

Technologies Covered:
• Wireless Technologies
• Wired Technologies

End Users Covered:
• Healthcare
• Automotive & Transportation
• Utilities
• Consumer Electronics
• Retail
• Security & Surveillance
• Oil & Gas
• Agriculture
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Machine-to-Machine (M2M) Market, By Component
5.1 Introduction
5.2 Sensors
5.3 Memory
5.4 Actuators
5.5 Radio Frequency Identification (RFID)
5.6 Communication Modules
5.7 Power Modules

6 Global Machine-to-Machine (M2M) Market, By Technology
6.1 Introduction
6.2 Wireless Technologies
6.2.1 Bluetooth
6.2.2 Wi-Fi
6.2.3 Zigbee
6.2.4 Cellular Network
6.3 Wired Technologies
6.3.1 Ethernet
6.3.2 Profinet
6.3.3 Modbus
6.3.4 Foundation Fieldbus

7 Global Machine-to-Machine (M2M) Market, By End User
7.1 Introduction
7.2 Healthcare
7.2.1 Blood Pressure Monitor
7.2.2 Blood Glucose Meter
7.2.3 Smart Pill Dispenser
7.2.4 Fall Detector
7.2.5 Telemedicine
7.2.6 Multi-Parameter Monitor
7.3 Automotive & Transportation
7.3.1 Telematics
7.3.2 Fleet Tracking/Monitoring
7.4 Utilities
7.4.1 Smart Grids
7.4.2 Smart Meters
7.5 Consumer Electronics
7.5.1 Smart TV
7.5.2 Smart Washing Machine
7.5.3 Smart Refrigerator
7.5.4 Smart Cooktop
7.5.5 Smart Oven
7.6 Retail
7.6.1 Digital Signage
7.6.2 Contactless Checkout/Pos
7.6.3 Intelligent Vending Machines
7.7 Security & Surveillance
7.7.1 Commercial & Residential Security
7.7.2 Remote Surveillance
7.8 Oil & Gas
7.9 Agriculture
7.10 Other End Users

8 Global Machine-to-Machine (M2M) Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 Vodafone Group PLC
10.2 AT&T Inc.
10.3 Cisco Systems Inc.
10.4 Virscient Limited
10.5 NXP Semiconductors N.V.
10.6 Texas Instruments Incorporated
10.7 Intel Corporation
10.8 Gemalto N.V.
10.9 Huawei Technologies Co., Ltd.
10.10 Murata Manufacturing Co., Ltd.
10.11 U-Blox Holding AG
10.12 Fanstel Corporation
10.13 Commsolid GmbH
10.14 M2M Germany Gmbh
10.15 Revogi Innovation Co., Ltd.
10.16 Telit Communications
10.17 Duetsche Telecom AG
10.18 Siera Wireless
10.19 Aeris Communications
10.20 Sensata Technologies

List of Tables
1 Global Machine-to-Machine (M2M) Market Outlook, By Region (2021-2030) ($MN)
2 Global Machine-to-Machine (M2M) Market Outlook, By Component (2021-2030) ($MN)
3 Global Machine-to-Machine (M2M) Market Outlook, By Sensors (2021-2030) ($MN)
4 Global Machine-to-Machine (M2M) Market Outlook, By Memory (2021-2030) ($MN)
5 Global Machine-to-Machine (M2M) Market Outlook, By Actuators (2021-2030) ($MN)
6 Global Machine-to-Machine (M2M) Market Outlook, By Radio Frequency Identification (RFID) (2021-2030) ($MN)
7 Global Machine-to-Machine (M2M) Market Outlook, By Communication Modules (2021-2030) ($MN)
8 Global Machine-to-Machine (M2M) Market Outlook, By Power Modules (2021-2030) ($MN)
9 Global Machine-to-Machine (M2M) Market Outlook, By Technology (2021-2030) ($MN)
10 Global Machine-to-Machine (M2M) Market Outlook, By Wireless Technologies (2021-2030) ($MN)
11 Global Machine-to-Machine (M2M) Market Outlook, By Bluetooth (2021-2030) ($MN)
12 Global Machine-to-Machine (M2M) Market Outlook, By Wi-Fi (2021-2030) ($MN)
13 Global Machine-to-Machine (M2M) Market Outlook, By Zigbee (2021-2030) ($MN)
14 Global Machine-to-Machine (M2M) Market Outlook, By Cellular Network (2021-2030) ($MN)
15 Global Machine-to-Machine (M2M) Market Outlook, By Wired Technologies (2021-2030) ($MN)
16 Global Machine-to-Machine (M2M) Market Outlook, By Ethernet (2021-2030) ($MN)
17 Global Machine-to-Machine (M2M) Market Outlook, By Profinet (2021-2030) ($MN)
18 Global Machine-to-Machine (M2M) Market Outlook, By Modbus (2021-2030) ($MN)
19 Global Machine-to-Machine (M2M) Market Outlook, By Foundation Fieldbus (2021-2030) ($MN)
20 Global Machine-to-Machine (M2M) Market Outlook, By End User (2021-2030) ($MN)
21 Global Machine-to-Machine (M2M) Market Outlook, By Healthcare (2021-2030) ($MN)
22 Global Machine-to-Machine (M2M) Market Outlook, By Blood Pressure Monitor (2021-2030) ($MN)
23 Global Machine-to-Machine (M2M) Market Outlook, By Blood Glucose Meter (2021-2030) ($MN)
24 Global Machine-to-Machine (M2M) Market Outlook, By Smart Pill Dispenser (2021-2030) ($MN)
25 Global Machine-to-Machine (M2M) Market Outlook, By Fall Detector (2021-2030) ($MN)
26 Global Machine-to-Machine (M2M) Market Outlook, By Telemedicine (2021-2030) ($MN)
27 Global Machine-to-Machine (M2M) Market Outlook, By Multi-Parameter Monitor (2021-2030) ($MN)
28 Global Machine-to-Machine (M2M) Market Outlook, By Automotive & Transportation (2021-2030) ($MN)
29 Global Machine-to-Machine (M2M) Market Outlook, By Telematics (2021-2030) ($MN)
30 Global Machine-to-Machine (M2M) Market Outlook, By Fleet Tracking/Monitoring (2021-2030) ($MN)
31 Global Machine-to-Machine (M2M) Market Outlook, By Utilities (2021-2030) ($MN)
32 Global Machine-to-Machine (M2M) Market Outlook, By Smart Grids (2021-2030) ($MN)
33 Global Machine-to-Machine (M2M) Market Outlook, By Smart Meters (2021-2030) ($MN)
34 Global Machine-to-Machine (M2M) Market Outlook, By Consumer Electronics (2021-2030) ($MN)
35 Global Machine-to-Machine (M2M) Market Outlook, By Smart TV (2021-2030) ($MN)
36 Global Machine-to-Machine (M2M) Market Outlook, By Smart Washing Machine (2021-2030) ($MN)
37 Global Machine-to-Machine (M2M) Market Outlook, By Smart Refrigerator (2021-2030) ($MN)
38 Global Machine-to-Machine (M2M) Market Outlook, By Smart Cooktop (2021-2030) ($MN)
39 Global Machine-to-Machine (M2M) Market Outlook, By Smart Oven (2021-2030) ($MN)
40 Global Machine-to-Machine (M2M) Market Outlook, By Retail (2021-2030) ($MN)
41 Global Machine-to-Machine (M2M) Market Outlook, By Digital Signage (2021-2030) ($MN)
42 Global Machine-to-Machine (M2M) Market Outlook, By Contactless Checkout/Pos (2021-2030) ($MN)
43 Global Machine-to-Machine (M2M) Market Outlook, By Intelligent Vending Machines (2021-2030) ($MN)
44 Global Machine-to-Machine (M2M) Market Outlook, By Security & Surveillance (2021-2030) ($MN)
45 Global Machine-to-Machine (M2M) Market Outlook, By Commercial & Residential Security (2021-2030) ($MN)
46 Global Machine-to-Machine (M2M) Market Outlook, By Remote Surveillance (2021-2030) ($MN)
47 Global Machine-to-Machine (M2M) Market Outlook, By Oil & Gas (2021-2030) ($MN)
48 Global Machine-to-Machine (M2M) Market Outlook, By Agriculture (2021-2030) ($MN)
49 Global Machine-to-Machine (M2M) Market Outlook, By Other End Users (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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