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The global machine-to-machine (M2M) connections market is projected to grow at a CAGR of 12.7% from 2024 to 2029, driven by factors such as the increasing penetration of the Internet, growing adoption of 4G/LTE cellular technologies, and rising demand for extended network coverage. The utility sector is expected to have the second highest share in the market, with initiatives such as the deployment of smart meters driving the use of M2M technology for power efficiency. Other growth opportunities include the emergence of M2M devices in telemedicine and the trend of cloud platforms and big data analytics.
