The Latest M2M Industry Statistics Explained
The global M2M connections market size was valued at USD 22.13 billion in 2020.
The statistic indicates that the Global Machine-to-Machine (M2M) connections market, which involves automated communication between devices and systems, was valued at USD 22.13 billion in 2020. This market size represents the total revenue generated by M2M connections worldwide during that year. The figure highlights the increasing importance and adoption of M2M technology across various industries such as manufacturing, transportation, healthcare, and agriculture, among others. The growing demand for connectivity among devices to enable data sharing, monitoring, and automation is driving the expansion of the M2M connections market, with significant opportunities for further growth and innovation in the coming years.
The market is anticipated to register a CAGR of 4.7% from 2021 to 2028.
This statistic indicates that the market is expected to experience a Compound Annual Growth Rate (CAGR) of 4.7% over the period from 2021 to 2028. CAGR is a measurement used to describe the year-over-year growth rate of an investment or market, assuming that it grows at a steady rate each year. In this case, a CAGR of 4.7% signifies that the market is projected to grow at an average annual rate of 4.7% during the specified time frame. This growth rate can provide insights into the anticipated performance and trajectory of the market, helping stakeholders make informed decisions and plan for future investments or strategies.
The global cellular M2M connections and services market size was valued at USD 8.27 billion in 2020.
The statistic suggests that the global market for Machine-to-Machine (M2M) connections and services, facilitated through cellular technology, was estimated to be worth USD 8.27 billion in 2020. This figure represents the total value of transactions, services, and products related to M2M communication over cellular networks worldwide during that year. The size of this market indicates the significant demand and adoption of M2M technology across various industries such as healthcare, transportation, manufacturing, and utilities, among others. The growth of M2M connections and services highlights the increasing importance of interconnected devices and data exchange in enabling automation, efficiency, and innovation across sectors on a global scale.
The market is expected to expand at a CAGR of 11.6% from 2021 to 2028.
The statistic “The market is expected to expand at a compound annual growth rate (CAGR) of 11.6% from 2021 to 2028” indicates the projected average annual growth rate of a particular market over a period of eight years. This means that, if the prediction holds true, the market size is estimated to increase by 11.6% each year on average from 2021 to 2028. The CAGR provides a more smoothed-out perspective of growth compared to simple annual growth rates, allowing stakeholders to better understand the trend and potential future size of the market. In this case, the forecast suggests significant growth opportunities for businesses operating within this market during the specified period.
APAC region holds the highest revenue share in the M2M market.
The statistic “APAC region holds the highest revenue share in the M2M (machine-to-machine) market” indicates that the Asia-Pacific region generates the largest portion of revenue within the M2M industry when compared to other regions worldwide. This suggests that businesses in countries within the Asia-Pacific region are investing considerably in M2M technologies and services, leading to higher revenues being generated in this market segment. Factors such as technological advancements, increased adoption of IoT (Internet of Things) devices, and a growing demand for connectivity and automation solutions are likely contributing to the APAC region’s dominance in the M2M market revenue share. This statistic highlights the significance of the Asia-Pacific market for M2M stakeholders and signifies the region’s role as a key player in driving growth and innovation within the industry.
The BFSI sector will emerge as the leading end users of M2M connections until 2026.
This statistic indicates that within the realm of Machine-to-Machine (M2M) connections, the Banking, Financial Services, and Insurance (BFSI) sector is projected to become the primary user of such technology by the year 2026. This suggests that the BFSI sector is anticipated to adopt and implement M2M connections on a larger scale compared to other industries. The utilization of M2M technology in the BFSI sector can offer benefits such as improved operational efficiency, enhanced customer experience, and better decision-making processes. This statistic underlines the growing importance and adoption of M2M connections within the BFSI sector, signaling a potential shift in technological trends and priorities within the industry.
Revenue from connected vehicles is expected to make up 30% of all M2M by 2024.
The statistic indicates that by 2024, revenue generated from connected vehicles is projected to represent 30% of all revenue generated from machine-to-machine (M2M) communication. This suggests that the automotive industry’s adoption of technology, particularly in the form of connected vehicles, is expected to play a significant role in the overall M2M market. The growth in revenue from connected vehicles is likely driven by advancements in automotive technology, such as internet connectivity and sensors, leading to the generation of data and services that can be monetized. This statistic highlights the increasing importance of connected vehicles within the M2M ecosystem and reflects the potential for further integration of technology in the automotive sector.
In 2019, cellular M2M module shipments reached a record 109.9 million units.
The statistic ‘In 2019, cellular M2M module shipments reached a record 109.9 million units’ indicates a significant growth in the deployment of machine-to-machine (M2M) communication technology through cellular networks. This record-breaking number reflects the increasing reliance on cellular connectivity for devices to communicate and transfer data with each other without human intervention. The surge in cellular M2M module shipments showcases the growing adoption of Internet of Things (IoT) devices across various industries and applications, ranging from smart-home devices to industrial equipment. The statistic underscores the expanding connectivity landscape and the vital role that cellular technology plays in enabling seamless communication between devices in the digital era.
A short-range M2M communication holds nearly 63.57% market share in 2020.
The statistic suggests that in 2020, short-range machine-to-machine (M2M) communication technologies, such as Bluetooth and WiFi, dominated the market with nearly 63.57% market share. This indicates that a significant majority of M2M devices and systems deployed that year utilized short-range communication protocols for connecting and exchanging data. The widespread adoption of these technologies could be attributed to their reliability, affordability, and ease of implementation, making them a preferred choice for various applications requiring close-range data transfer and communication functionalities.
The number of IoT devices now exceeds 22 billion, with this number forecasted to double by 2025. Many M2M connections fall under IoT.
The statistic provided indicates that there are currently over 22 billion Internet of Things (IoT) devices in use, and this number is expected to double by the year 2025. This exponential growth reflects the increasing integration of interconnected smart devices in various aspects of daily life and industries. It is also highlighted that a significant portion of IoT devices are Machine-to-Machine (M2M) connections, which further emphasizes the extensive network of communication and data exchange between devices without human intervention. This rapid expansion of IoT technologies signifies the ongoing digital transformation and the evolving landscape of connected devices that are reshaping how we interact with technology and each other.
It was reported that 2.7 million M2M devices were in use in the US in 2016.
The statistic stating that there were 2.7 million machine-to-machine (M2M) devices in use in the US in 2016 indicates the widespread adoption and integration of connected devices in various industries. M2M technology enables devices to communicate with each other and perform tasks without human intervention, leading to increased efficiency, productivity, and innovation. The significant number of M2M devices in operation highlights the growing trend towards automation and connectivity, reflecting the increasing reliance on technology for data collection, analysis, and decision-making processes across different sectors such as healthcare, manufacturing, transportation, and utilities. This statistic underscores the transformative impact of IoT technologies on business operations and everyday life in the digital age.
AT&T held 48% of the market share for M2M connections within the US in 2019.
The statistic ‘AT&T held 48% of the market share for M2M (machine-to-machine) connections within the US in 2019’ indicates that AT&T controlled nearly half of the market for M2M connections in that year. Market share represents the portion of total sales within an industry that is captured by a particular company, in this case, AT&T. With 48% market share, AT&T was a dominant player in the industry, potentially leading to significant influence over pricing, product offerings, and industry trends within the M2M sector in the US during 2019. This statistic highlights AT&T’s competitiveness and market position in the rapidly growing M2M communication technology sector.
The European M2M market reached an impressive €7.3 billion in 2020.
The statistic “The European M2M market reached an impressive €7.3 billion in 2020” indicates that the Machine-to-Machine (M2M) market in Europe generated a total revenue of €7.3 billion in the year 2020. This figure demonstrates the substantial size and growth of the M2M industry in Europe, highlighting the increasing adoption and utilization of connected devices and technologies for automated data exchange and communication. Such a substantial market size implies a significant economic impact, technological advancement, and potential opportunities for businesses operating in the M2M sector in Europe.
In 2020, 13.8% of all mobile connections were M2M in North America, compared to the global average of 5.5%.
In 2020, the statistic suggests that North America had a higher proportion of Machine-to-Machine (M2M) mobile connections compared to the global average. Specifically, 13.8% of all mobile connections in North America were M2M, which is significantly higher than the global average of 5.5%. This indicates that North America has seen a greater adoption and utilization of M2M technology in its mobile network infrastructure compared to the rest of the world. The higher percentage in North America could be attributed to various factors such as the region’s advanced technological infrastructure, higher industrial automation levels, or greater focus on IoT (Internet of Things) applications, showcasing a more widespread integration of M2M communication technologies in the region’s mobile network landscape.
By 2023, M2M connections are expected to account for more than half of the world’s cellular connections.
The statistic implies that as of the year 2023, Machine-to-Machine (M2M) connections are projected to surpass traditional human-to-human cellular connections in terms of numbers. This suggests a notable shift towards greater machine-driven communication within global cellular networks. M2M connections involve devices and systems communicating with each other without human intervention, such as in the context of Internet of Things (IoT) applications. This trend highlights the increasing importance of interconnected devices and automation in various industries and everyday life, indicating a growing reliance on technology for communication and data exchange.
In France, it was found that M2M connections represented 3.9% of all mobile subscriptions in 2019.
This statistic indicates that in France, machine-to-machine (M2M) connections accounted for 3.9% of all mobile subscriptions in the year 2019. M2M connections typically involve devices communicating with each other without direct human intervention, such as in applications related to the Internet of Things (IoT) or industrial automation. The fact that M2M connections made up nearly 4% of all mobile subscriptions in France suggests a growing trend towards interconnected technology and automation in various sectors. This data provides insight into the increasing adoption and integration of M2M technologies within the mobile communication landscape of the country.
In 2018, Telecom Italia Mobile held a 32% market share for M2M connections within Italy.
The statistic indicates that in 2018, Telecom Italia Mobile had a 32% market share of machine-to-machine (M2M) connections in Italy. This means that out of all the M2M connections established within the country’s telecommunications network, Telecom Italia Mobile was responsible for servicing approximately one-third of them. This data point highlights Telecom Italia Mobile’s significant presence in the M2M sector in Italy and suggests that they were a major player in providing connectivity for devices and systems to communicate and exchange data without human intervention.
By 2018, the M2M industrial sector had a mobility penetration rate of 53%.
The statistic that the M2M (machine-to-machine) industrial sector had a mobility penetration rate of 53% by 2018 indicates that more than half of the M2M devices within this sector were capable of wireless communication and accessing mobile networks. This high penetration rate suggests that a significant number of industrial machines and equipment were equipped with mobile connectivity to enable data exchange, remote monitoring, and real-time communication. The increasing integration of mobile technology in industrial processes highlights the growing importance of M2M communication in improving operational efficiency, productivity, and maintenance within the industrial sector.
Conclusion
The M2M industry statistics reveal a thriving sector with impressive growth potential. With increasing connectivity and technological advancements, the future looks bright for M2M applications across various industries. As businesses continue to adopt and leverage M2M technologies, the landscape will continue to evolve, presenting new opportunities for innovation and growth. Keep an eye on this dynamic industry as it continues to shape the future of connectivity and automation.
References
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