Cellular M2M Market Rises with IoT Connectivity Demand, Cost-Efficient Modules, and Remote Monitoring Applications

Cellular M2M Market advances with robust IoT adoption in logistics, utilities, and healthcare, enabling efficient remote device monitoring.

AUSTIN, TX, UNITED STATES, October 31, 2024 /EINPresswire.com/ -- Market Scope and Overview

The Cellular M2M Market¹ is experiencing substantial growth, driven by rising demand across industries such as transportation, manufacturing, and healthcare.

The Cellular M2M Market, currently valued at USD 14.4 billion in 2023, is projected to expand at a compound annual growth rate (CAGR) of 21.02% from 2024 to 2032 to reach USD 80.1 billion by 2032.

Trends Shaping the Cellular M2M Market

The Cellular Machine-to-Machine (M2M) Market is growing rapidly as enterprises in various sectors increasingly adopt cellular M2M solutions for real-time monitoring, control, and asset management. By streamlining operations and enabling actionable insights, cellular M2M technology is being integrated into diverse applications, including asset tracking and advanced security solutions.

The adoption of cellular M2M has accelerated, fueled by advancements in LTE and 5G technologies that enhance connectivity and reduce latency. The expansion of 5G networks is transforming M2M applications, enabling faster data transfer and more reliable connections. This high-speed connectivity is crucial for industries that rely on continuous data flow, such as healthcare, manufacturing, and smart cities, where M2M supports monitoring, automation, and predictive maintenance.

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Some of the Major Key Players Studied in this Report are:

➤ AT&T
➤ Verizon Communications
➤ T-Mobile
➤ Vodafone
➤ Orange
➤ Telefónica
➤ Deutsche Telekom
➤ Telefonaktiebolaget LM
➤ Ericsson
➤ KORE Wireless Group
➤ Aeris Communications India Pvt. Ltd.
➤ Others

Regional Insights

In 2023, North America led the market, supported by a robust technological ecosystem and strong demand for IoT solutions. The North American market benefits from significant investments in 5G infrastructure and M2M technology adoption across sectors such as healthcare, energy, and utilities. The U.S. remains a leader in M2M adoption, focusing on applications like autonomous driving, smart grid solutions, and patient monitoring.

The Asia-Pacific region is growing at a significant rate due to rapid digital transformation and expanding manufacturing and transportation sectors in countries like China, India, and Japan. Government initiatives in the region promote M2M solutions as part of smart city and industrial automation efforts. High mobile penetration rates and infrastructure investments further drive M2M adoption in Asia-Pacific.

Segmentation Analysis

By Organization Size

The large enterprise segment held the majority share in the cellular M2M market, accounting for over 65% of revenue in 2023. Large enterprises deploy cellular M2M technology for complex applications, such as supply chain management, predictive maintenance, and remote monitoring. With sufficient resources, these organizations integrate M2M solutions seamlessly into existing operations, streamlining logistics and reducing operational costs, particularly in asset-intensive industries like manufacturing, energy, and transportation.

Meanwhile, small and medium-sized enterprises (SMEs) are increasingly interested in cellular M2M solutions due to growing awareness of the technology’s benefits and the availability of cost-effective solutions tailored to their needs.

By Application

The asset tracking and monitoring segment led the cellular M2M market, accounting for over 22% of the market share in 2023. Many industries rely on M2M technology to track assets in real time, optimize logistics, and improve supply chain efficiency. For instance, transportation companies utilize cellular M2M to monitor fleet vehicles, optimize routes, and prevent asset theft.

Asset tracking is particularly valuable in sectors such as logistics, retail, and healthcare, where real-time data on asset location and condition impacts operational efficiency and customer satisfaction. M2M technology enables enterprises to understand asset usage patterns, reducing downtime and optimizing deployment. This growing demand for asset-tracking solutions, along with advancements in cellular M2M modules, is anticipated to drive continued market growth.

Market Segmentation and Sub-Segmentation Included Are:

On The Basis of Services
➤ Connectivity Services
➤ Professional Services
➤ Managed Services

On The Basis of Application
➤ Asset Tracking & Monitoring
➤ Predictive Maintenance
➤ Telemedicine
➤ Fleet Management
➤ Warehouse Management
➤ Industrial Automation
➤ Smart Meter
➤ Others

On The Basis of organization size
➤ Large Enterprises
➤ SMEs

On The Basis of End-User
➤ Healthcare
➤ Energy & Utilities
➤ Transportation & Logistics
➤ Manufacturing
➤ Others

Recent Developments

➤ 2023: Sierra Wireless announced a new portfolio of 5G M2M modules for IoT applications in transportation and logistics, offering high-speed, reliable connectivity for remote asset tracking and fleet management.

➤ 2023: Vodafone Group launched a partnership with several European municipalities to deploy M2M solutions for smart city applications, including air quality monitoring, traffic flow management, and public safety enhancement.

➤ 2023: Verizon introduced a cost-effective M2M solution targeting SMEs, aimed at facilitating M2M adoption for asset management and process automation. This solution includes data analytics features that provide insights into asset usage patterns, helping businesses optimize their operations.

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Table of Contents- Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities
3.4. Challenges

4. Impact Analysis
4.1. Impact of Ukraine- Russia war
4.2. Impact of Ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Cellular M2M Market Segmentation, by Services
8.1. Connectivity Services
8.2. Professional Services
8.3. Managed Services

9. Cellular M2M Market Segmentation, by Application
9.1. Asset Tracking & Monitoring
9.2. Predictive Maintenance
9.3. Telemedicine
9.4. Fleet Management
9.5. Warehouse Management
9.6. Industrial Automation
9.7. Smart Meter
9.8. Others

10. Cellular M2M Market Segmentation, by organization size
10.1. Large Enterprises
10.2. SMEs

11. Cellular M2M Market Segmentation, by End-User
11.1. Healthcare
11.2. Energy & Utilities
11.3. Transportation & Logistics
11.4. Manufacturing
11.5. Others

12. Regional Analysis
12.1. Introduction
12.2. North America
12.3. Europe
12.4. Asia-Pacific
12.5. The Middle East & Africa
12.6. Latin America

13. Company Profile

14. Competitive Landscape
14.1. Competitive Benchmarking
14.2. Market Share Analysis
14.3. Recent Developments

15. USE Cases and Best Practices

16. Conclusion

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¹ https://www.snsinsider.com/reports/cellular-m2m-market-1754