M2M/IoT Communications Market Global Industry Forecast 2022
The global m2m/iot communications market size was valued at USD 22.1 million in 2021 and is poised to grow at a significant CAGR of 4.9% during the forecast period 2022-28. Intelligent connected objects are increasingly required to collect or exchange very small volumes of data with remote devices. This ranges from traditional industrial Machine-to-Machine (M2M) applications, such as remote monitoring for oil and gas pipelines or agricultural equipment, to new Internet of Things (IoT) applications, such as monitoring public lighting in Smart Cities. Cloud-based applications, industrial development are the other key variables towards the global M2M/IoT communication market
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Sensor Accounted for Higher Revenue Share in Global M2M/IoT Communications Market:
Based on components, global M2M/IoT communication market is segmented into Wi-Fi, sensors, RFID, computer software, others. Sensor is accounted for higher revenue. Sensors are sophisticated devices that are frequently used to detect and respond to electrical or optical signals. A Sensor converts the physical parameter into a signal which can be measured electrically. Features on choosing a sensor include; Accuracy, Environmental condition – usually has limits for temperature/ humidity, Range – Measurement limit of sensor, Calibration – Essential for most of the measuring devices as the reading changes with time, Resolution – Smallest increment detected by the sensor, Cost, Repeatability – The reading that varies is repeatedly measured under the same environment
The global m2m/iot communications market segmentation:
- By Component: Wi-Fi, Sensors, RFID, Computer Software, Others
- By Technology: Wired, Wireless
- By Application: Wearable Devices, Healthcare, Automotive and Transportation, Building Automation, Industrial, Consumer Electronics, Precision Farming
North America leads the Global M2M/IoT Communications Market:
Based on regional analysis, global M2M/IoT communication market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America global M2M/IoT communication market contributed the largest share in 2021. An increasing number of electronic devices are becoming internet-enabled each year, allowing for more sophisticated communication and coordination between these devices and their users which boosting the global market. Another key variable is the market players.
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Key player’s profiles in the global M2M/IoT communication market are: Softbank, NTT Docomo, KDDI, SK Telecom, T-Mobile Netherlands, Telstra, Singtel, Vodafone, Plintron, Deutsche Telekom (DT), Tata Communications, Unlimit, China Mobile International, China Unicom (Hong Kong) Limited, China Telecom, A1 Telekom Austria, Aeris.
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