GITNUX MARKETDATA REPORT 2024

M2M Industry Statistics

The M2M industry is projected to continue growing rapidly, driven by increasing connectivity, technological advancements, and the deployment of IoT solutions across various sectors.

In this post, we will explore the significant statistics shaping the M2M industry, offering insights into market size, growth projections, regional dynamics, end-user trends, and key players in the evolving landscape of machine-to-machine connectivity. From the global market size to sector-specific penetration rates, these statistics provide a comprehensive overview of the current state and future trajectory of M2M connections.

Statistic 1

"The global M2M connections market size was valued at USD 22.13 billion in 2020."

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Statistic 2

"The market is anticipated to register a CAGR of 4.7% from 2021 to 2028."

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Statistic 3

"The global cellular M2M connections and services market size was valued at USD 8.27 billion in 2020."

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Statistic 4

"The market is expected to expand at a CAGR of 11.6% from 2021 to 2028."

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Statistic 5

"APAC region holds the highest revenue share in the M2M market."

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Statistic 6

"The BFSI sector will emerge as the leading end users of M2M connections until 2026."

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Statistic 7

"Revenue from connected vehicles is expected to make up 30% of all M2M by 2024."

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Statistic 8

"In 2019, cellular M2M module shipments reached a record 109.9 million units."

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Statistic 9

"A short-range M2M communication holds nearly 63.57% market share in 2020."

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Statistic 10

"The number of IoT devices now exceeds 22 billion, with this number forecasted to double by 2025. Many M2M connections fall under IoT."

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Statistic 11

"It was reported that 2.7 million M2M devices were in use in the US in 2016."

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Statistic 12

"AT&T held 48% of the market share for M2M connections within the US in 2019."

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Statistic 13

"The European M2M market reached an impressive €7.3 billion in 2020."

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Statistic 14

"In 2020, 13.8% of all mobile connections were M2M in North America, compared to the global average of 5.5%."

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Statistic 15

"By 2023, M2M connections are expected to account for more than half of the world's cellular connections."

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Statistic 16

"In France, it was found that M2M connections represented 3.9% of all mobile subscriptions in 2019."

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Statistic 17

"In 2018, Telecom Italia Mobile held a 32% market share for M2M connections within Italy."

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Statistic 18

"By 2018, the M2M industrial sector had a mobility penetration rate of 53%."

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In conclusion, the global M2M market is experiencing steady growth with a significant increase in market size and anticipated CAGR from 2021 to 2028. The APAC region leads in revenue share, with the BFSI sector expected to drive M2M connections until 2026. The increasing adoption of connected vehicles is projected to be a substantial revenue contributor by 2024. Short-range M2M communication dominates the market, with a large number of IoT devices driving further growth. The statistics further reveal the market landscape across different regions and key players, highlighting the potential for continued expansion and innovation in the M2M industry.

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