Global Machine to Machine Services Market Forecast, 2019-2025
Machine to Machine Services Market Detailed Global Analysis Report by Key Players – AT&T Inc., Deutsche Telekom AG, Rogers Communications Inc., Verizon Communications Inc., And Vodafone Group PLC.
Machine to Machine communication involves a fundamental four-stage procedure that includes data generation, data transfer, data analysis, and the data used. It is one of the best options for connecting multiple devices as it enables communication among devices without human intervention. Machine to Machine communication has significant global potential, with applications in many areas; including smart grid, smart cities, healthcare, and agriculture. Machine to Machine services can be used for a wide range of applications including, traffic solutions, waste, and electricity. This offers significant market growth opportunities.
The key drivers of the technology are increasing adoption of the Machine to Machine applications and penetration of different technologies, such as 2G and 3G in the global market. In addition, as the focus on automation rises, it is anticipated that the demand for the Machine to Machine service will grow in the near future. Moreover, the cooperation of service providers with the Machine to Machine communication system integrators is expected to create more opportunity for market growth in the near future. However, the high cost of installation and maintenance of this technology are hindering the growth of this market.
The global Machine to Machine service market has been categorized on the basis of technology and end-user. The market is further classified into wired and wireless on the basis of technology, whereas, by end-users the market is classified into energy & utilities, healthcare, retail, consumer electronics, security & surveillance, and automotive. The wireless technology is anticipated to hold the highest market and has the highest growth rate in the forecast period. The retail segment has an extensive range of applications and is expected to be the fastest growing segment due to emerging automation trends. The key areas of its applications are the high-tech solutions, such as Automatic Guided Vehicle Systems (AGVs) and Automated Storage and Retrieval Systems (AS/ RS), that rely heavily on Machine to Machine services to communicate among this automated equipment. The increased demand for the Machine to Machine services is expected to grow in the near future with an increasing number of all Omni channel business segments and online vendors.
Companies such as Deutsche Telekom deliver reliable and economic IoT solutions such as IoT solution optimizers, which provide technical advice and customer on boarding services. It allows companies across the globe to model and optimize IoT applications in a range of vertical industries, including smart city services, security, and asset tracking. The service combines the required elements of the hardware, application, and network to evaluate IoT solutions. There are other key players such as AT&T Inc., Rogers Communications Inc., Verizon Communications Inc., Vodafone Group PLC, Aeris Communications, Inc., and Amdocs, Inc. who contribute for significant growth of the market.
The market is divided geographically into North America, Europe, Asia-Pacific and the rest of the world. Asia-Pacific is anticipated to have major markets in the near future due to the presence of many market players in the region. This is due to the growing internet penetration in many emerging economies throughout the region. Moreover, in countries like India, the focus is on the creation of smart cities to meet the growing infrastructure needs of the region's growing population. This is likely to be one of the major reasons for promoting market growth in the region. It is also anticipated that North America will have a significant market share, which can be attributed to the numerous players in the region.
· North America (US and Canada)
· Europe (UK, Germany, France, Spain, and Italy)
· Asia-Pacific (China, India, South Korea, and Japan)
· Rest of the World (Middle East & Africa and Latin America)
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