M2M Security Market Size was valued at USD 25.5 Billion in 2022. The M2M Security market industry is projected to grow from USD 27.03 Billion in 2023 to USD 43.08 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2023 - 2032). Enhanced interoperability and connectivity, adherence to regulations, and risk reduction in vital industries are the key market drivers boosting the expansion of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for M2M Security is being driven by the rising Technological Developments. Technology that blocks unwanted access to linked computers, systems, and endpoints that exchange data over wireless networks and the internet is known as machine-to-machine (M2M) security. This system guards against hackers gaining unauthorized access to computers, taints proof data transfer, and secures data transmissions between cloud and networked equipment.
Additionally, M2M security solutions are becoming more complex and efficient because to continuous developments in security technology, such as blockchain, artificial intelligence, machine learning, and encryption techniques. Recently, there has been significant growth in the M2M security industry worldwide. As machine-to-machine communication becomes more important ly and secure connections are established to safeguard data transmission from cyber threats, this is the main factor driving the market's explosive performance. To further support the growth of the market, the increasing requirement for secure data transmission in consumer and industrial applications due to the necessity of remote monitoring is also thought to be one of the key factors.
In addition, a number of factors are anticipated to positively impact the market's performance in the upcoming years, including the growing demand for secure communication, an increase in cyberattacks and data theft cases, the availability of cloud-based security solutions, and product innovations and technological advancements. Conversely, a few criteria could impede the market's growth. The primary factor impeding the market's expansion is the high associated costs. Additionally, it is anticipated that standardization periods will have a detrimental effect on market performance during the evaluation time. For instance, around 270 million 5G users—or more than 60% of all mobile subscriptions—are expected in the region by June 2019, according to Ericcson's Mobility Report. thereby fueling the expansion of the market in the area. Thus, result in driving the M2M Security market revenue.
The M2M Security market segmentation, based on type includes Hardware Systems, and Software Services. The hardware systems segment dominated the market. The primary driver of the market's explosive expansion is the expanding need for security gear. Conversely, it is anticipated that the software and services sector will have the highest growth rate during the evaluation period.
Figure1: M2M Security Market, by Type, 2022&2032(USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The M2M Security market segmentation, based on Application, includes Household, Industrial, Retail and Payment Industries, Logistics and Transportation Industries, and Healthcare. The healthcare category generated the most income. ly, healthcare companies are becoming more and more dependent on secure communication technologies, which are thought to be the primary factor driving the segment's performance upswing.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American M2M Security market area will dominate this market. The primary factor driving the M2M market's explosive expansion in the region is the existence of top companies creating safe machine-to-machine networks there.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: M2M SECURITY MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe M2M Security market has the second-largest portion of the market. The main factor propelling this market's expansion is the growing use of embedded SIMs. Further, the German M2M Security market had the biggest market share, and the UK M2M Security market was the European market with the quickest rate of growth.
The Asia-Pacific M2M Security Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. It is believed that the growing usage of IoT in the region is the primary element driving the growth of the regional market. Moreover, China’sM2M Security market had the biggest market share, and the IndianM2M Security market was the Asia-Pacific region's fastest-growing market.
Leading market players are putting a lot of money on R&D to expand their product lines, which will help the M2M Security market, keep growing. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, M2M Security industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the M2M Security industry to help customers and expand the market segment. In recent years, the M2M Security industry has provided some of the biggest benefits to medicine. Major players in the M2M Security market, including Cisco Systems, Gemalto, Kore Wireless, Sierra Wireless, PTC, Digi International, Eurotech, NetComm Wireless, Netop, and others, are engaging in research and development activities in an effort to boost market demand.
Cisco Systems, Inc., also referred to as Cisco, is a worldwide firm focused on digital communications technologies. Networking hardware, software, telecommunications gear, and other high-tech services and goods are developed, produced, and sold by Cisco. With flagship products like Webex, OpenDNS, Jabber, Duo Security, and Jasper, Cisco specializes in niche tech industries like the Internet of Things (IoT), domain security, videoconferencing, and energy management. With over $51 billion in revenue and around 83,300 workers, Cisco is one of the biggest technology businesses in the world, coming in at number 82 on the Fortune 100. In 2022, Due to Russia's invasion of Ukraine, Cisco fully stopped selling its equipment in that country and stopped providing support for products that had previously been sold.
Gemalto offered managed services, e-wallets, secure personal devices like smart cards and tokens, and software applications. It was created in June 2006 by the combination of Gemplus International and Axalto. In 2018, Gemalto N.V. brought in €2.969 billion. After being acquired by Thales Group in April of 2019, the business is currently known as Thales DIS (Digital Identity and Security). Prior to its takeover, Gemalto had the position of the biggest SIM card producer ly. In April 2019, Gemalto was fully acquired by Thales for a sum of €4.8 billion. Gemalto will become Digital Identity and Security (DIS), Thales' seventh worldwide division.
February 2022: The Department of Telecom required all M2M service providers to register in order to handle security issues and communicate with telecom carriers, among other things.
October 2022: Bharti Airtel ("Airtel"), stated that the "Always On" IoT connection solution will be deployed throughout the nation. A multi-mobile network operator (MNO) in the eSIM allows an Internet of Things (IOT) device to keep a mobile network connection. Dual profile M2M eSIM is a feature of Airtel's "Always On" service.
November 2021: Peplink responded to the growing consumer appetite for 5G and LTE enterprise communication products in Australia by extending its partnership with M2M Connectivity, a well-known IoT and wireless solutions reseller in Australia and New Zealand.
Hardware Systems
Software Services
Household
Industrial
Retail and Payment Industries
Logistics and Transportation Industries
Healthcare
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 25.5 Billion |
| Market Size 2023 | USD 27.03 Billion |
| Market Size 2032 | USD 43.08 Billion |
| Compound Annual Growth Rate (CAGR) | 6.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Cisco Systems, Gemalto, Kore Wireless, Sierra Wireless, PTC, Digi International, Eurotech, NetComm Wireless, Netop, Novatel Wireless, Option, SIMCom Wireless Solutions, Systech |
| Key Market Opportunities | The growing use of connected devices in many different businesses |
| Key Market Dynamics | The increasing complexity of cyberthreats, encompassing ransomware, malware, hacking attempts, and data breaches aimed at Internet of Things devices |
Frequently Asked Questions (FAQ) :
In 2022, the size of the M2M security market was estimated to be USD 25.5 billion.
From 2023 to 2032, the market is expected to expand at a compound annual growth rate (CAGR) of 6.00%.
North America held the most market share worldwide.
The leading companies in the market are Cisco Systems, Gemalto, Kore Wireless, Sierra Wireless, PTC, Digi International, Eurotech, NetComm Wireless, Netop, Novatel Wireless, Option, SIMCom Wireless Solutions, Systech.
In 2022, the market was dominated by the Hardware Systems category.
In the market, the healthcare sector held the biggest share.
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