Cellular M2M Market to Hit USD 27 Billion at a CAGR of 20.43% by 2027 - Report by Market Research Future (MRFR)
New York, US, June 23, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Cellular M2M Market Information by Services, by Application, by End User, by Organization Size and Region - Forecast till 2027” the market size to reach USD 27.0 billion by 2027 at a CAGR of 20.43%.
Market Scope:
Since the introduction of 2G networks, GPRS, 3G, LTE, and, more recently, 5G mobile technologies, cell or mobile infrastructure has advanced significantly. Users will also be able to browse the internet quickly and download high-definition content on their smart mobile devices. Technological advancements have also aided developments in the IoT sector. Cellular networks are wireless technologies that provide IoT devices with secure and dependable data transmission functionality across long distances.
From industry to smart homes, machinery is becoming an essential component of the connectivity network. Machine-to-machine (M2M) connectivity is the main mode of these computers and automatically supports humans in different ways. Many more M2M devices are focusing on cellular networks, benefiting from increased coverage and lower network launch costs. Actually, machine terminals connecting to cellular networks are similar to mobile phones, implying a dynamic protocol stack, high power consumption, and high cost, all of which are major impediments to the introduction of computers.
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Dominant Key Players in The Worldwide Cellular M2M Market Are:
- AT&T (US)
- Orange S.A. (France)
- Verizon (US)
- T-Mobile (US)
- Telefonica (Spain)
- Vodafone (UK)
- Ericsson (Sweden)
- Infineon (Germany)
- Kore Wireless (US)
- Aeris (US
- Arm holdings (UK)
- China Mobile (China)
- Thales Group (France)
- Orbocomm (US)
- Telit (UK)
- Giesecke+Devrient (Germany)
- Deutsche Telekom (Germany)
- Cubic Telecom (Ireland)
- KPN (Netherlands)
- A1 Digital (Austria)
- SK Telecom (South Korea)
- Rogers Communications (Canada)
- Telenor Connexion (Sweden)
- Truphone (UK)
- 1oT (Estonia)
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Market USP exclusively encompassed:
Market Drivers
The increased requirement for risk assessment and management, the lower cost of communication applications, and the growing usage of the Internet of Things have all fueled the demand for cellular M2M. The growing demand for wireless connectivity has necessitated the development of a single M2M network. Furthermore, rising demand in the IT and telecommunications sectors is likely to significantly enhance the market growth. The cellular M2M industry is growing in popularity as technology allows data or information transfers to remote locations on the condition of physical devices and properties for effective control and monitoring.
Market Segmentation
The global cellular M2M industry has been segmented based on services, application, end-user, and organization size.
Based on services, the global cellular M2M market has been segmented into connectivity services, professional services, and managed services.
Based on application, the global cellular M2M market has been segmented into asset tracking and monitoring, predictive maintenance, telemedicine, fleet management, warehouse management, Industrial automation, smart meter, others. Furthermore, the other segment has been sub-segmented into connected cars, point of sale (POS), and digital signage.
Based on end-users, the global cellular M2M market has been segmented into healthcare, energy and utilities, transportation and logistics, manufacturing, others. Furthermore, the other segment has been sub dived into automotive and retail.
Based on organization size, the global cellular M2M market has been segmented into large enterprises and small and medium enterprises (SMEs).
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Regional Analysis
Based on region, the global cellular M2M market has been segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America.
North America dominated the cellular M2M market, followed by the Asia Pacific and Europe; this dominance is likely to continue till the end of the forecast period.
Asia Pacific is another rapidly rising region, owing to the growing use of your own device among small and medium-sized businesses in order to improve business continuity management and privacy risk management, which is predicted to boost global cellular M2M market growth.
Industry News
In July 2020, Deutsche Telekom unveiled LTE-M in Germany, allowing its consumers to gain applications to enable data transfer and analysis. Through 5G-based LTE-M technology, LTE-M is intended to aid customers in allowing applications across a broad range of industry sectors.
In October 2019, AT&T partnered with Vodafone Business to open up access for their respective NB-IoT networks to make it simpler for customers to create massive IoT deployments that work across the U.S. and parts of Europe.
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COVID-19 Impact on the Global Cellular M2M Market
To ensure business continuity in the midst of the COVID-19 crisis, business organizations, particularly in the most affected countries, are urging their employees to work from home. The increase in the number of people working from home has contributed to an increase in demand for internet video streaming, uploading, and video conferencing connectivity, all of which have resulted in increased network traffic and data utilization. COVID-19 accelerates the demand for agile and mobile work models, as well as the introduction of contact services aimed at improving work-life balance. The current pandemic has compelled telecom companies all around the world to analyze their network resilience and rethink their planned investments. Even so, technological advancements and digitization in various nations are projected to sustain the market for M2M cellular solutions in significant vertical industries such as healthcare and utilities in order to limit human interference.
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