The size of the worldwide M2M services market, which was estimated at US$ 31.2 billion in 2021, is expected to increase from US$ 39.7 billion in 2022 to US$ 376.3 billion in 2032 at a compound annual growth rate of 25.2%.
The Internet of Things (IoT) is driving the growth of the M2M services sector, creating enormous commercial opportunities. With effective implementation, it can streamline processes for greater efficiency, security, and environmental responsibility in addition to creating possible revenue streams for the IT firms that will create and manage the aforementioned systems.
Through a wireless central service, managed M2M services connect machines and devices, transforming them into smart assets, creating new opportunities for corporate growth and enhancing customer happiness. These services make it easier to manage and automate business processes using linked machines, resulting in higher productivity, quicker decision-making, and a reduction in time, effort, and expense.
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Market Overview
Although, managed M2M services has a huge potential regarding growth and adoption, currently it consists of a heterogeneous collection of established and emerging, technologies and standards. This is mainly due to involvement of a wide range of market sectors.
In recent years, cloud based deployment has become a significant component of the managed M2M services and related solutions, due to the increase in cellular and wireless connection speeds. Managed M2M services/solutions providers are offering platforms as a service (PaaS), which streamline machine networks by allowing users to manage deployments remotely.
Market Dynamics
Major drivers expected to propelling the adoption managed M2M services are – exponential growth in smartphone, tablet, sensors and their applications, increase in cellular and wireless connection speeds globally, concept of smart homes along with growing automation and adoption of M2M services in automotives.
Adoption of managed M2M services are fuelled by advantages such as full control of connected devices, self-managing the device provisioning process and subscription details and service providers offering flexible pricing plans for connectivity tailored for customer needs.
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Additionally, users are looking forward towards the consolidation of services using fewer managed M2M service providers. Apart from connectivity, users want these service providers to offer secure networks, device management, granular billing platforms, cross network aggregation, infrastructure, mapping, hardware, industry experience.
However, with the introduction of new devices and related M2M communication technologies, the type of attacks that end users will experience are also expected to change. End users will be needed to increase focus on physical attacks on devices, such as those in remote locations.
Key Market Players
Key players operating in the global managed M2M services market are Aeris, AT&T, Arkessa, Deutsche Telekom AG, Digicel, KORE Wireless Group, Eseye Limited, Orange Business Services, ORBCOMM, Telefónica S.A., Verizon Enterprise and Vodafone Limited.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Market Segmentation
Global Managed M2M Services market can be segmented on the basis of deployment, application and regions.
On the basis of deployment, the market can be classified as
- cloud based
- on premises
On the basis of application, the market can be classified as
- smart homes
- medical & healthcare
- manufacturing
- automotive & transportation
- retail (supply chain)
- agriculture
- military & defense
On the basis of regions, the market is classified as:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (Excluding Japan)
- Japan
- Middle East & Africa
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