The global [FURL=https://www.industryarc.com/Report/19417/massive-machine-type-communication-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease] massive machine type communication (mMTC) market[/FURL] size is anticipated to reach $3.1 billion by 2026, growing at CAGR 9.2% from 2021 to 2026. Some of the major factors including growing demand for fully automated process, wireless connectivity, connected devices, increasing investment in smart city projects, development and investment in next generation mobile network infrastructure are driving the growth of massive machine type communication (mMTC) industry. Key Takeaways
North America dominated the market in 2020, with the highest market share, owing to the earlier adoption of advanced technology, growing demand for uninterrupted connectivity, huge investments in mMTC infrastructure and smart city projects.
Growing investments in 5g infrastructure works as a growth driver for this market.
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Massive machine type communication (mMTC) market Drivers
Growing investment in 5G infrastructure:
The investment in 5g infrastructure and its adoption is expected to grow rapidly due to its ability to provide strong security, lower latency level, enhanced capacity, better network coverage and connectivity, greater data transmission speed, and increased bandwidth compared to other network. In April 2019, Japanese Government approved the plans of four mobile carriers NTT DoCoMo, KDDI, SoftBank and Rakuten to build 5g wireless networks with $14.4 billion investment over the next five years. In October 2019, North American company Qualcomm launched a $200M fund to invest in companies developing 5G ecosystem. Increasing investment in 5G infrastructures and its wide adoption works as growth drivers for mMTC market.
Higher speed connection and real time information:
Higher connectivity speed is one of the main driving forces for this market. Massive machine type communication not only enables machine to machine communication but also makes the communication lighting fast. Massive machine type communication provides real time information which makes the operational process in every business sector more efficient. Better connectivity and access to real time information is beneficial for business of all kinds, manufacturing, healthcare, transportation & logistics, power, waste water & water management, automotive and others.
Massive machine type communication (mMTC) Market Landscape
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Massive machine type communication (mMTC) market. As of 2020, the market for Massive machine type communication (mMTC) market is consolidated with the top players including Nokia Corporation, Huawei Technologies Co., Ltd., Panasonic Corporation, Intel Corporation, Cisco Systems, Inc., Telefonaktiebolaget L M Ericsson, Qualcomm Incorporated, Koninklijke Philips NV, Telecom Italia and others.
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