M2M Platform Market Size, Share, Growth, and Industry Analysis, By Type (GSM, GPRS, UMTS and others), By Application (Transport, Energy, Healthcare, Retail, and Security), Regional Forecast By 2031

Updated On: 22 April 2024

M2M Platform Market Report Overview

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The global M2M platform market size was USD 21080 million in 2022, as per our research, the market is expected to reach USD 118821.23 million by 2031, exhibiting a CAGR of 21.2% during the forecast period.  

The global COVID-19 pandemic has been unprecedented and staggering, with the M2M platform market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A software system known as an M2M platform, also known as a machine-to-machine platform, integrates and streamlines the administration of M2M devices and applications. In general, an M2M platform manages the transmission of data through devices, the backend systems that analyze the data and keep the software of the devices up to date, and general device development management.

Remote monitoring frequently makes use of machine-to-machine communication. When a particular product is running short, for instance, a message can be sent requesting a restocking of products by a vending machine to the network of its distributors. . M2M is essential to warehouse management systems (WMS) and supply chain management as it makes asset tracking and monitoring possible (SCM).

COVID-19 Impact: Pandemic Increased The Market Demand

The worldwide cellular M2M business, is anticipated to grow in the wake of the COVID-19 pandemic. The market has generally benefited from the COVID pandemic outbreak. Due to the coronavirus's quick global spread, many organizations were compelled to adopt remote working practices, which made it challenging for employees to be accessible on the job. Many companies and manufacturing facilities now use cellular M2M systems to monitor, record, control, and troubleshoot many of their tools without actually sending an employee out into the field. Due to the unexpected requirement for the use of remote monitoring and operating tools, the COVID-19 pandemic has therefore generally impacted positively on the cellular M2M business, leading to increasing requests for cellular M2M platform and tools. For instance, the IoT solutions vendor Aeris promoted their remote patient health service, which tracks patients' movements, whereabouts, and vital signs including heart rate, blood pressure, and glucose levels. During the COVID epidemic, these systems enabled medical practitioners to assess patients who were being treated in isolation.

Latest Trends

"M2M Usage For Security And Monitoring Is Expanding Leading To The Expansion Of The Market"

For security and surveillance purposes, M2M systems are frequently utilised in supermarkets, hypermarkets, restaurants, hotels, and small- and medium-sized businesses. Due to the drop in price of M2M communication devices, the majority of shops have opted to further safeguard their businesses through the installations of security camera. M2M security system implementation is increasing as a result of declining cost of installing and maintaining such systems. These systems are being installed in many businesses by merchants, restaurateurs, and hoteliers in order to track personnel and assets. For instance, in the case of a break-in, store managers get notifications on their smartphones. Through the security camera feed, managers may monitor activities inside their establishments remotely. 

M2M Platform Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into GSM, GPRS, UMTS and others                               

• By Application Analysis

Based on application, the market can be divided into Transport, Energy, Healthcare, Retail, and Security

Driving Factors

"Expansion of the industrial Internet of Things"

The Industrial Internet of Things has experienced significant growth in recent years. Manufacturing facilities and enterprises are being empowered by Industry 4.0 through automation, monitoring assistance, predictive maintenance of machines, and other essential technologies. These patterns point to promising future development prospects for the worldwide market for cellular M2M systems. The industrial Internet of Things is expanding its horizons thanks to cellular M2M communication solutions. As communication networks become quicker and reaction times rise, automation of nodes becomes more and more practical. For instance, enterprises may gather, analyse, and exchange "“time series data from connected devices in real-time”" using the M2X Data Service from American telecommunications services provider AT&T Inc. Thus, it is projected that all of these variables working together would present profitable prospects for the growth of the worldwide market over the coming years.

"Vigorous usage of cellular M2M to boost market growth "

In the present world, cellular machine-to-machine communication has countless uses. In the contemporary world, cellular machine-to-machine communication has countless uses, such as automated metre reading (AMR), vending machines, distribution points (POS), transportation, and logistics (fleet management). Cellular M2M communication technologies are firmly rooted in the present world thanks to their resilience. The market for cellular M2M solutions is also growing as a result of an increasing focus on automation across numerous industries and a shortage of workers following the COVID-19 pandemic.

Restraining Factors

"An increasing data and network load causing privacy concern"

Although the M2M platform market growth is being fostered by their increasing application in cellular network connectivity, this has caused an increase in the traffic. This network servers aren’t ade3quately equipped for such high traffic. Owing to this incompetency there has been several security breaches. Hence this rising privacy concerns regarding the security of the data is said to hinder the growth of the market. There is a want of knowledge about the system within the operator which poses a serious threat. Furthermore, the cost of installation and maintenance of such system is very high restraining the growth of such industries.

M2M Platform Market Regional Insights

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"Asia Pacific to lead the market owing to sudden growth in wireless connectivity usage"

Asia Pacific is predicted to develop at the quickest rate. This region has been experiencing a sudden boom in the usage of wireless connectivity services coupled with the implementation of certain advanced technologies. Owing to these factors the M2M platform market share of this region is predicted to increase. The growing use of M2M solutions in nations like China, India, and Japan is expected to fuel the regional market. Additionally, it is anticipated that increased government efforts for smart city development would fuel the expansion of the whole worldwide market throughout the projection period.

Key Industry Players

"Key players are employing innovative marketing strategies in order to stimulate further growth of the market  "

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including service launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions to meet the increasing consumer demand.

List of Market Players Profiled

• Gemalto
• Jasper Technologies
• Sierra Wireless
• Telit Wireless Solutions
• Xively
• Amdocs
• Digi International
• Kore Wireless
• PTC
• Aeris
• Bosch Software Innovations
• Comarch
• Cumulocity

Report Coverage

This report examines an understanding of the M2M platform market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.