Technology

Machine To Machine (M2M) Services Market size is set to grow by USD 116.80 billion from 2024-2028, Rising demand for improved machine to machine data communication boost the market, Technavio

Published

2 months ago

July 16, 2024

NEW YORK, July 16, 2024 /PRNewswire/ — The global machine to machine (M2M) services market size is estimated to grow by USD 116.80 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 37.12% during the forecast period. Rising demand for improved machine to machine data communication is driving market growth, with a trend towards growth of automotive industry by leveraging 5G technology. However, standardization and policy-related issues poses a challenge. Key market players include Aeris Communications Inc., Alphabet Inc., Amdocs Ltd., AT and T Inc., BT Group Plc, Cisco Systems Inc., Comarch SA, Cstar Technologies Inc., Deutsche Telekom AG, Huawei Technologies Co. Ltd., Intel Corp., Orange SA, Rogers Communications Inc., Semtech Corp., Telefonaktiebolaget LM Ericsson, Telefonica SA, Telit, Thales Group, Verizon Communications Inc., and Vodafone Group Plc.

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Machine To Machine (M2M) Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 37.12%

Market growth 2024-2028

USD 116807.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

29.55

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 30%

Key countries

US, China, Japan, India, and UK

Key companies profiled

Aeris Communications Inc., Alphabet Inc., Amdocs Ltd., AT and T Inc., BT Group Plc, Cisco Systems Inc., Comarch SA, Cstar Technologies Inc., Deutsche Telekom AG, Huawei Technologies Co. Ltd., Intel Corp., Orange SA, Rogers Communications Inc., Semtech Corp., Telefonaktiebolaget LM Ericsson, Telefonica SA, Telit, Thales Group, Verizon Communications Inc., and Vodafone Group Plc

Market Driver

The 5G network is set to fuel advancements in machine-to-machine (M2M) and machine-to-infrastructure (M2I) services, particularly in sectors like automotive and logistics. IoT connectivity plays a crucial role in enabling interconnectivity between devices, such as vehicles, and providing real-time information for enhanced safety and efficiency. Autonomous vehicles, a major innovation, offer social, economic, and mobility benefits, with safety features activated only when necessary. Vehicle-to-X (V2X) technology facilitates communication between vehicles and other entities, enhancing safety and enabling faster, more efficient driving. In the logistics industry, IoT solutions optimize fleet, freight, and public transport management, increasing operational efficiency and enhancing the commuter experience. OTA updates, facilitated by 5G and IoT, provide significant cost savings and real-time software enhancements, driving the growth of the global M2M services market. Companies like NXP Semiconductors, Cisco, Tesla, and Ford are leading the way in implementing these technologies.

The Machine-to-Machine (M2M) services market is experiencing significant growth due to advancements in connectivity technologies, such as 4G/LTE and 5G. Product enhancements in manufacturing products, like sim-enabled machines and sensors, are driving cost-effectiveness and operational efficiency for enterprises. Software application integration and cloud platforms enable real-time analytics capabilities. Strategic developments, including partnerships with resellers and expansion into new industries like utilities, smart cities, automotive, healthcare, and telecom-related fields, are also fueling growth. Safety regulations and cybersecurity concerns are being addressed through AI/ML and network management solutions. The 5G penetration rate is increasing, providing fast wireless technology for large industrial firms to handle 5G data and online transactions securely. M2M transactions are becoming essential for operational efficiency and reducing operational breaches. Government policies and wireless networks (both wired and wireless) are crucial components of the connectivity process. Ongoing developments in optical, switching, and security technologies will further enhance the M2M services market.

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Market Challenges

Machine to machine (M2M) services find applications in various industries, including automotive, manufacturing, energy, healthcare, and military. Due to market fragmentation, operators must provide unique M2M platforms catering to diverse use cases and applications. M2M devices have distinct connectivity requirements, necessitating frequent data transmission, which could lead to network overload during emergencies or disasters. Satellite operators, with varying national regulatory policies, create interoperability issues. Integrating M2M devices with cellular M2M technologies is complex, requiring device redesign and software development. Adding supplementary features like GPS, Bluetooth, and short-range wireless connectivity can cause integration issues, reducing M2M adoption. A standardized framework for sharing data from different satellites is lacking, affecting coordination among databases. Despite these challenges, existing spectrum and network assets can be leveraged to maximize profits, reduce customer acquisition and support costs, and enable new wireless devices and business processes.In the current business scenario, the Machine-to-Machine (M2M) Services Market is experiencing rapid development, driven by the need for smart homes solutions and Industry 4.0. However, there are several challenges that need to be addressed to ensure the effectiveness and cost-competitiveness of M2M services. Cost is a significant challenge, with high component costs, power consumption, and commissioning fees limiting the adoption of M2M technologies. Scalability and network resilience are also critical issues, as M2M communications require reliable and robust networks to transmit sensed data and enable real-time decision-making. The M2M value chain includes various operational activities, from component manufacturing to memory management and RFID tagging. Technological advancements, such as artificial intelligence (AI) and fifth-generation (5G) networks, are enabling more collaborating machines and machine-type communication (MTC), but these technologies also come with their own costs and complexities. The M2M market is also facing the threat of substitutes, such as wired communication and manual data entry. To remain competitive, M2M service providers must focus on reducing costs, improving quality, and ensuring ease of commissioning for their customers. Components, such as actuators and sensors, play a crucial role in the M2M ecosystem. Ensuring the reliability and compatibility of these components is essential to maintaining network effectiveness and reducing the risk of operational errors. Overall, the M2M Services Market is an exciting and dynamic space, with significant potential for growth and innovation. However, addressing the challenges of cost, power consumption, scalability, network resilience, ease of commissioning, and component reliability will be key to unlocking the full potential of this technology.

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Segment Overview

This machine to machine (m2m) services market report extensively covers market segmentation by

Application 1.1 Automotive1.2 Healthcare1.3 Utilities1.4 Retail1.5 OthersTechnology 2.1 Wireless2.2 WiredGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Automotive- The Machine-to-Machine (M2M) services market refers to the communication between machines and devices, enabling them to exchange data and perform tasks without human intervention. This market is growing rapidly due to the increasing use of Internet of Things (IoT) technology in various industries, including healthcare, transportation, and manufacturing. Companies are investing in M2M services to improve efficiency, reduce costs, and enhance productivity. The market is expected to reach significant growth in the coming years, driven by the proliferation of connected devices and the demand for real-time data analysis.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

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Research Analysis

The Machine-to-Machine (M2M) services market is experiencing significant growth due to the increasing adoption of Industry 4.0 and the integration of Artificial Intelligence (AI) in various industries. M2M communications enable devices and machines to exchange information and make decisions autonomously over the internet. With the rollout of 5G and advancements in connectivity technologies, M2M services are becoming more cost-effective and efficient. M2M services find applications in various sectors such as manufacturing, transportation, healthcare, automotive, and smart cities. Sensors and machines are integrated with software application integration to collect data and analyze it using analytics capabilities. This data is used to optimize operational efficiency, ensure safety regulations, and drive strategic developments. Wireless technologies like NB-IoT and LTE-M are gaining popularity in M2M services due to their low power consumption and long-range capabilities. Cybersecurity is a major concern in M2M services, and companies are investing in advanced security measures to protect against potential threats. Government policies and initiatives are also driving the growth of M2M services in sectors like waste management and smart cities. Connected cars are another area of significant growth, with automakers investing heavily in M2M services to enhance safety and improve the driving experience. Overall, M2M services are transforming industries by enabling real-time data exchange and automated decision-making.

Market Research Overview

The Machine-to-Machine (M2M) Services Market is experiencing rapid development in various industries as part of Industry 4.0, with M2M communications and machine-type communication (MTC) playing a crucial role. Sensed data is transformed into valuable information for decision-making and collaborating machines, reducing human involvement. M2M technology connects devices to the internet, enabling key advancements in manufacturing products, cost-effectiveness, and operational efficiency. Connectivity technologies, including 4G/LTE, 5G networks, and wireless and wired networks, are enabling the connectivity process. M2M transactions are increasing in sectors like utilities, smart cities, automotive, healthcare, telecom-related fields, and more. AI/ML, cybersecurity, and network management are essential components of M2M services. The expansion stage of M2M technology is driven by strategic developments, cloud platforms, analytics capabilities, and resellers. Maintenance, hardware, sensors, and machines are integral parts of the M2M ecosystem. Policies and regulations, including those from the Department of Telecom, play a significant role in the market’s growth. M2M services are transforming industries, from connected cars and wireless technologies to NB-IoT, LTE-M, and healthcare equipment, and are revolutionizing sectors like waste management, water management, energy consumption, and public buildings. Technology giants are investing in specialized solutions for autonomous driving, driver assistance systems, and self-driving cars. The penetration rate of 5G and the availability of fast wireless technology are enabling online transactions and M2M transactions, making the future of M2M services exciting and full of possibilities.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationAutomotiveHealthcareUtilitiesRetailOthersTechnologyWirelessWiredGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Nuvve Updates Shareholders on Compliance Measures

Published

9 mins ago

September 25, 2024

SAN DIEGO, Sept. 24, 2024 /PRNewswire/ — Nuvve Holding Corp. (Nasdaq: NVVE), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq’s Bid Price Rule.

Nuvve recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. The Company encourages shareholders to protect their shares against market manipulation through actions such as holding shares in cash accounts and requesting “no loan” status.

For shareholder letter: https://nuvve.com/shareholder-letter/

For more information, contact investors@nuvve.com.

About Nuvve Holding Corp. Nuvve (Nasdaq: NVVE) transforms electric vehicles into grid resources, driving the transition to a net-zero future. Learn more at nuvve.com

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SOURCE Nuvve Holding Corp.

Technology

Wire and tube industry expos to spark international trade in Shanghai

Published

9 mins ago

September 25, 2024

SHANGHAI, Sept. 25, 2024 /PRNewswire/ — The wire China 2024 and Tube China 2024, organized by Shanghai Electric Cable Research Institute Co., Ltd., Messe Düsseldorf (Shanghai) Co., Ltd., Metallurgical Council of the China Council for the Promotion of Int’l Trade (MC-CCPIT), are scheduled to be held from September 25 to 28 at the Shanghai New International Expo Centre, aiming to drive industry advancement and foster connections.

This year, the two expos will span 10 pavilions, encompassing a total exhibition area of 109,250 square meters. Nearly 1,500 businesses from about 30 countries and regions are expected to participate. The two exhibitions will cover the entire industry chain of cables, wires and tubes, offering a professional and efficient one-stop platform for exchanges worldwide.

wire China 2024: supporting enterprises to foster new quality productive forces

The wire China 2024 event is poised to occupy an area of 80,500 sqm, setting a milestone in its growth trajectory. With the participation of nearly 1,100 enterprises from 26 countries and regions, the expo will serve as a platform to showcase the latest developments and trends in the industry.

The exhibition will showcase an array of offerings including wire and cable manufacturing and processing machinery, auxiliary cable processing equipment, raw and auxiliary materials for cables (optical cables), finished wire products and cables, measurement and control technology, testing engineering solutions. The showcase is designed to assist enterprises in accelerating their transition toward digitalization, fostering flexibility, enabling smart production, nurturing new quality productive forces and enhancing the production competitiveness of businesses. The 2024 edition will cover five major areas: Digital Intelligent & Innovative Equipment, Technology Tools & Auxiliary Materials, Green and Low-carbon Solutions, Wires & Cables and Measures & Control Technology.

China has been promoting development of new quality productive forces since the start of 2024, with burgeoning sectors like artificial intelligence; new materials; commercial aerospace; the low-altitude economy and smart connected vehicles. These innovations are infusing the wire industry with vitality and drawing the attention of numerous overseas enterprises to China. This year, the event will host businesses from countries and regions such as South Korea, Japan, the United States, Switzerland, the United Kingdom, Spain and Turkiye. Business delegations from Germany, Italy, France and Austria will be present at the W1 Pavilion to exhibit their innovations and latest breakthroughs.

Heavyweight participants

This year, the event has garnered robust backing from prominent industry associations, including the Asian Wire & Cable Industry Corporation Alliance (AWCCA); Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK); the Association of the German Trade Fair Industry (AUMA); the German Mechanical Engineering Industry Association (VDMA); the ITA/ICE-Italian Trade Agency (ITA); the Italian Wire Machinery Manufacturers Association (ACIMAF) and the Austrian Federal Economic Chamber (WKÖ).

List of some well-known participating brands:

NIEHOFF, WAFIOS, SIKORA, MAILLEFER, ROSENDAHL NEXTROM, BOROUGE, SAMP, PROTON, ELANTAS, ENEOS NUC, HANWHA, TOTOKU, KOS, MFL GROUP, TEIJIN ARAMID, ZUMBACH, EUROLLS, SWPG, ESTEVES, SHENG CHYEAN, PETROFER, HUNTSMAN, DSR, SMATER, SINGCHEER, HONTA, G.Y.M., HANDING, JCDOFAMA, XINGMING, GOLDEN TECHNOLOGIES , INOVANCE, DONY GROUP, LIQIANG MECHANICAL & ELECTRICAL, AEROSPACE NANHAI, YI TENG ELECTRIC, HUAYUAN, PANGHAO, WANMA MACROMOLECULE, TIANRONG, CGN GROUP, CABLE, ORIGINAL, PAMICA, QLPM, ATPOIMER, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Fostering new quality productive forces

Centering on digital intelligence and innovation, the expo will be a key platform to display products and services. Singcheer will introduce the SiMOM for remote collaborative manufacturing operations and an AGV logistics system tailored for the cable industry. Maillefer from Finland will showcase the latest AI panoramic scanner 2.0, while Inovance from Shenzhen will present a motorized cable extrusion solution using advanced control algorithms and the MD810 multi-drive. These digital intelligence and innovation products cover manufacturing equipment, industrial software, visual inspection and other specific businesses, empowering cable companies to transit toward intelligent manufacturing.

Leading new trends

The wire China 2024 is not just a trade platform, but a place to communicate the latest market trends and release new products and solutions. This year, there will be nearly 60 high-end technological communication events.

The annual China Wire and Cable Industry Annual Conference will have in-depth discussions on new quality productive forces and high-quality development. Participants will share opinions on new market opportunities and challenges, exchange insights on the market trends, analyze the development status of the wire and cable industry, release annual reports on the development of international and domestic cable standardization work, as well as business competitiveness analysis reports. Simultaneously, the conference will address quality and technical issues related to typical products, unveil significant common technical research accomplishments and identify challenges and hurdles in emerging technological domains within the cable industry. The event aims to inspire businesses, bolster their confidence, foster courage in confronting challenges, and contribute to enhancing the development standards of both the industry chain and the supply chain.

The themed forums for wire and cable businesses will cover industrial economics and the development of the cable industry; the role of intelligent equipment in supporting high-quality development; green and low-carbon innovations in cable materials; high-quality special materials aiding the development of new energy vehicles; efficient and energy-saving electrical equipment; cable industry resource recycling technologies and digital intelligence empowering the development of the cable manufacturing industry.

Tube China 2024: 20 years of companionship, jointly shaping the new future of the industry.

As one of leading professional expos for tubes in Asia, Tube China 2024 has a total exhibition area of 28,750 sqm. Nearly 400 brands from 13 countries and regions including Germany, Japan, South Korea, Italy, the Netherlands, Latvia, Norway, Switzerland, and the United Kingdom will participate in the event. Tube China will present a high-level industry feast of intelligence and tube manufacturing for the Chinese tube industry and its upstream and downstream sectors.

This year, the expo will welcome some first-time participants including Fanuc. Industry-leading players including Fanuc, IPG, Kinkelder, Stark, Inductotherm, SINOAUDE, Halifax Fan and ENRX will bring their latest developments to the event. Enterprises such as IPG, Changen, Longxin, Huibaisheng and Huinengda will focus on showcasing innovative products and applications related to lasers and optoelectronics; optics and optical manufacturing; testing and quality control; as well as the innovative products and application solutions of infrared technology and applications.

List of some well-known participating brands:

FANUC, IPG, KINKELDER, STARK, INDUCTOTHERM, SINOAUDE, HALIFAX FAN, ENRX, HUIBAISHENG, SINOFORM, CHANGEN, HANDUK, KTM, TOYOKOHAN, TAELIM, VICTAULIC-TUWEI, TEMA, DONGAN, FIELD, AMPCO, ARES, JINYI, SONGYANG STAINLESS STEEL INDUSTRY ASSOCIATION, CHENLONG, ZHONGYONG, CHANGFENG, WAN-RUN DA , BOKENA, TUS PIPE, LONGXIN, NANYANG, CONTOR M & E, SHENGTIAN, NEW VICTOR, HUAYANG, HUILITONG, BAOFENG, JINCHUANG XINTIAN, HAIQIANWEI, FUGANG, ASCENDING, JUYI, LIWAN, VICTORY, ZHONGHAO, YOUFA, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Concurrent events, including the China International Steel Tube & Pipe Summit and the 2024 Heat Treatment Technology Seminar, will be organized during the expo to enhance communication, foster partnerships, drive technological innovation and uphold high-quality development within the industry.

A variety of activities will be organized to celebrate the 20th anniversary of the annual expo and the longstanding support from all participants of the expo.

Looking ahead, organizers of wire & Tube China will continue to promote development of the event to promote exchanges and bolster quality development of the industry.

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SOURCE Messe Düsseldorf Shanghai

Technology

PayMongo and Brankas Now Offer the Widest Range of Payment Options in the Philippines

Published

9 mins ago

September 25, 2024

Enable seamless, secure, and direct online banking payments with Brankas through PayMongo, featuring top Philippine banks BDO, Metrobank, and Landbank.

MANILA, Philippines, Sept. 25, 2024 /PRNewswire/ — PayMongo has partnered with Brankas to add new payment options to the PayMongo platform, making it the payment gateway with the widest range of payment options for Filipino businesses. PayMongo payment options include credit cards, e-wallets, BNPL, QRPh, and online banking. PayMongo merchants can now accept direct online banking payments from three additional Philippine banks — BDO, Metrobank, and Landbank — offering greater convenience and flexibility for both merchants and customers.

eCommerce stores, food delivery websites, ride-hailing apps, and gaming platforms that are PayMongo merchants can accept more forms of payments by integrating Brankas Direct API. This pay-by-bank channel is another trusted payment method that makes transactions faster and enhances the overall payment experience for users.

“Brankas and PayMongo share the same commitment to deliver fast and secure payment experience for users. Offering more payment options is a win-win for both customers and merchants as we offer greater payment flexibility and customer reach at the same time.” said Todd Schweitzer, Brankas CEO and Co-founder.

How to Get Started with Brankas Direct

To start accepting direct online banking payments, existing PayMongo merchants simply need to contact PayMongo Customer Support to request the activation of BDO, Metrobank, and Landbank payment options. The feature is available for Shopify plug-in users, PayMongo’s Custom & Checkout API, PayMongo Pages, and PayMongo Links. Users of the custom API require minimal updates, and the PayMongo developer website provides the full details.

Ready to enhance your payment offerings and provide a better customer experience? Enable Brankas Direct through PayMongo now. Visit Brankas Direct or PayMongo to learn more.

About PayMongo

PayMongo is a leading financial infrastructure platform in the Philippines, designed to simplify how businesses manage their finances. From payment processing to embedding financial services, PayMongo provides solutions that enable businesses to accept payments both online and in-person, streamline financial operations, and drive profitability. By offering a wide range of payment options and seamless integration, PayMongo empowers businesses to grow their revenue and succeed in the digital economy.

About Brankas

Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas’ secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

Media Enquiries:

Yiyang Teo
yiyang.teo@brank.as

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SOURCE Brankas