Report: Global M2M market to reach 27B devices in 2024

The total number of machine-to-machine (M2M) connections will grow from 5 billion in 2014 to 27 billion in 2024, a CAGR of 18 per cent, according to a report from Machina Research. The research company added that the total M2M revenue opportunity will be $1.6 trillion (€1.4 trillion) in 2024, up from $500 billion in 2014, a CAGR of 12 per cent. This includes devices, connectivity and application revenue. The majority of the revenue comes from devices, the report added. It further noted that cellular connections will grow from 256 million at the end of 2014 to 2.2 billion by 2024, of which the majority will be LTE. Around 14 per cent of connections in 2024 will use Low Power Wide Area (LPWA) connections such as Sigfox, LoRa and Huawei's Cellular IoT. Report

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