The global machine to machine market is expected to witness considerable growth owing to surging demand across several application areas including healthcare, automotive, utilities, consumer electronics, and retail. Smartphone proliferation and the emergence of cloud computing is also expected to favorably impact market growth over the forecast period. The M2M market has gained substantial significance as a source of connections growth for mobile operators worldwide.
M2M is very similar to Internet of Things, in that both allow virtually any sensor to communicate, reducing the need for human involvement. The difference between the two is while IoT exclusively refers to wireless communication, M2M can be done between any machine, regardless of it being wired or wireless. Cell operator giants such as AT&T and Verizon have rolled out M2M platforms of their own, while Intel, PTC, and Wipro are investing heavily in this area. Anglia, which is a leading electronics distributor in the U.K., recently signed an agreement with SIMCom Wireless Solutions Co., Ltd, a leading M2M wireless module and solution supplier, to boost its M2M wireless offering. Factors such as the rapid internet penetration across the globe, as well as favorable regulations by the government to attract market players, are expected to further the growth of machine to machine market.
Additionally, increased demand across the IT & telecom sector is expected to drive market growth substantially. M2M market is gaining popularity as the technology allows data or information transfer on the condition of physical devices and assets to remote locations for effective control and monitoring. Additionally, factors including network accessibility, the need to improve core business processes, enhancing revenue streams are also expected to positively impact market growth over the forecast period. Regulatory mandates across several regions or countries are emphasizing on expediting M2M adoption. For instance, smart meter/smart home adoption has been driven by green initiatives and driving pattern monitoring by the insurance industry in developed countries. In recent times, prices of platforms, end devices, network operators along with connectivity costs are declining, owing to which M2M solutions will become established and more mainstream.
Although M2M growth projections are high, the related ecosystem is unable to keep up its pace with the complex technology requirements, which may pose a challenge to machine-to-machine market growth. Furthermore, the market is highly fragmented and the standardization levels are low. Key industry participants include Atmel Corp., Cisco Systems Inc., Infineon Technologies AG and Schneider Electric. Companies focus on offering an integrated M2M solution to clients as part of their growth strategy.
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In contrast to its related industries like consumer electronics and semiconductors, the data center and communications infrastructure industry is expected to be more buoyant with continued strategic investments made to support the increased network traffic and data usage for remote working during the lockdown phase. From school closures necessitating students to use virtual offerings (Google Classroom ) to the governments using business analytics services (Power BI) for communicating virus updates, the demand for communication services and related infrastructure has witnessed an unprecedented rise amidst the global pandemic. Digital services including telemedicine are expected to remain popular even after the pandemic is contained, thereby ensuring strong growth in the communication infrastructure industry. The report will account for Covid19 as a key market contributor.
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