GITNUX MARKETDATA REPORT 2024

M2M Communication Industry Statistics

The M2M communication industry is expected to experience significant growth in the coming years, with an increase in the adoption of Internet of Things (IoT) devices driving the market.

Statistic 1

"By 2024, the global M2M communications market is expected to reach USD 21.62 billion."

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Statistic 2

"The projected Compound Annual Growth Rate (CAGR) of the M2M communication industry from 2019 to 2027 is 28.3%."

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Statistic 3

"The healthcare industry is expected to be the fastest-growing segment in M2M communication, registering a CAGR of 30.4% from 2019 to 2027."

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Statistic 4

"Cellular M2M connections in the retail sector in the US are predicted to grow to 44.38 million by 2025."

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Statistic 5

"In 2018, automotive and transport industries had the highest share of M2M traffic."

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Statistic 6

"The Asia Pacific regional market for M2M communication is expected to record the highest CAGR of 31.2% from 2019 to 2027."

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Statistic 7

"As of 2020, the M2M communication industry in Europe was valued at $4.95 billion."

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Statistic 8

"As of 2019, wireless M2M communication is expected to account for nearly 70% of all M2M connections by 2022."

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Statistic 9

"In 2021, North America accounted for the largest share of the M2M communication market."

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Statistic 10

"The M2M connections market in Latin America is projected to reach $4.1 billion by 2025."

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Statistic 11

"M2M device connections across Europe reached 112 million in 2018, accounting for about 19% of global M2M connections."

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Statistic 12

"As of 2020, China was the largest M2M market in the world, with more than 449 million cellular M2M connections."

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Statistic 13

"Globally, there are projected to be more than 2.4 billion M2M connections by 2023."

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Statistic 14

"Approximately 40% of businesses in the U.S. use some form of M2M technology."

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Statistic 15

"As of 2020, the automotive sector accounted for the most M2M connections at 45.4%."

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Statistic 16

"By 2023, there will be up to 43% LTE-M and NB-IoT connections in the IoT market."

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Statistic 17

"Bluetooth, Wi-Fi, and ZigBee make up around 68% of M2M wireless connections."

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Statistic 18

"By 2025, it is expected that the number of M2M connections will surpass the number of non-M2M connections in the United States."

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Statistic 19

"Hardware components contribute the most to the M2M communication revenue (around 36%) as of 2019."

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