Cellular M2M Market: Segmented By Services (Connectivity Services, Professional Services and Managed Services): By Application (Asset Tracking And Monitoring, Predictive Maintenance, Telemedicine and others): By End User (Healthcare, Energy and utilities, Transportation and logistics, Manufacturing and Others): By Organization Size (Large Enterprises, Small and Medium Enterprises): Global Analysis by Market size, share & trends for 2020-2021 and forecasts to 2031
Cellular M2M Market to surpass USD 93.6 billion by 2031 from USD 14.8 billion in 2021 at a CAGR of 20.25% within the coming years, i.e., 2021-31.
Cellular M2M communication enables worldwide interacting between independent vehicles and/or Internet connectivity to MTC devices. M2M connectivity is distinct from human-to-human communication, which contains mainly voice calls, texting, and web surfing. The goal of M2M communications is to improve the strength of independent systems by allowing devices and systems to transfer information. Cellular M2M communication enables devices to connect with each other straight without any human intervention. These communication platforms mostly help in providing reliable and cost-effective remote management and connectivity solutions to a varied range of industry verticals including energy & utilities, healthcare, manufacturing, and others worldwide.
Rising acceptance of smart devices along with increasing wireless structure are the major components driving the demand for Cellular M2M Market. Furthermore, the rising need for refining communication among staff and to recover productivity in a cost-effective way will add to the growing demand for these solutions. The trend towards mechanization will further drive the demand for Cellular M2M Market over the forecast period.
Based on Application, the market is segmented into Asset Tracking and Monitoring, Predictive Maintenance, Telemedicine,, and others. Asset Tracking segment holds the highest market share of Cellular M2M Market. The M2M Asset Tracking system helps industries professionally track their assets to recover employee security, boost process automation, and enhance their supply chain. The application is involved in maintaining the asset health as well as a vital means of distress shooting in case of any emergency.
Based on Organization Size, the market is segmented into Large Enterprises, Small and Medium Enterprises. Large Enterprise segment is predicted to grow at the highest CAGR during the forecast period. Cellular M2M services benefits large enterprises in enhancing the network structure, organize latest updates that help them lower the working costs, recover operational efficiencies, troubleshooting the IoT device issues, and noticing and mitigating security attacks. They always emphasize on the implementation of industry solutions that can benefit them in growing their operational efficiency.
Growing adoption of high-speed internet
Internet technologies have transformed the mode customers, enterprises, and communication service providers cooperate with business procedures. Massive rise in M2M connections is having a massive influence on the way many administrations do their commerce across industries by refining operational competence, value of products and services, and decision-making.
Growing impetus to IoT
M2M is a key factor of the developing IoT insurgency. M2M networks form a part of the IoT, coupled with big data analytics sensors and cloud computing and actuators that can together run independent machineries and intelligent systems. For the recent growths in wireless infrastructures, finding and actuation have given M2M an impetus to IoT. Furthermore, the number of connected devices is rising exponentially for many years and will continue to rise in the future. As a result, IoT is supporting a wide range of smart applications and services to manage with many of the tests people face in their daily lives.
Increasing concern about data security
The capacity of information collected using M2M technology presents new risks to security and privacy. The transferring of information through cloud services upsurges the locations where personal data exist. Most of the cellular-based M2M application providers map, monitor, and store private data of people, asset and vehicle information, and remote access to different IT systems and are concerned regarding the disclosure of this vital information to 3rd parties for marketing purposes or disclosure to officialdom.
The swift spread of the coronavirus has formed a health crisis and triggered a huge financial crisis globally. Owing to the huge economic losses in many of the sectors, the reserves for the expansion of cellular M2M solutions by the organizations is reduced. However, technical advancements and digitization in several countries are predictable to keep up the demand for cellular M2M solutions in major verticals, such as healthcare and utilities, to lessen human interference.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Cellular M2M Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and the Middle East, and Africa. North America is estimated to contribute the largest share of the Cellular M2M Market during the forecast period owing to the over-all preference and enthusiasm shown by the general population in the region towards adopting Cellular M2M Market. Moreover, large number of players functioning in this region also influence to drive growth of the market in North America. Asia Pacific also holds a major share of the global market. The market in the region is also projected to register the highest CAGR during the forecast period.
|Market size value in 2021||USD 14.8 billion|
|Revenue forecast in 2031||USD 93.6 billion|
|Growth Rate||CAGR of 20.25% from 2021 to 2031|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD billion and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||service, Application, End user, Organization size and region|
|Region scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)|
Key companies profiled
|T&T (US), Verizon (US), T-Mobile (US), Deutsche Telekom (Germany), Orange S.A. (France), Telefonica (Spain), Vodafone (UK), Ericsson (Sweden), Kore Wireless (US), Aeris (US), Arm holdings (UK), China Mobile (China), Infineon (Germany), Thales Group (France), Orbocomm (US), Telit (UK), Giesecke+Devrient (Germany), Cubic Telecom (Ireland), KPN (Netherlands), A1 Digital (Austria) and others|
The Cellular M2M Market size was estimated at USD 14.8 billion in 2021 and is expected to reach USD 93.6 billion by 2031.
Key players: T&T (US), Verizon (US), T-Mobile (US), Deutsche Telekom (Germany), Orange S.A. (France), Telefonica (Spain), Vodafone (UK), Ericsson (Sweden), Kore Wireless (US), Aeris (US), Arm holdings (UK), China Mobile (China), Infineon (Germany), Thales Group (France), Orbocomm (US), Telit (UK), Giesecke+Devrient (Germany), Cubic Telecom (Ireland), KPN (Netherlands), A1 Digital (Austria) and others
Asset Tracking segment and Large Enterprise are anticipated to hold the largest Cellular M2M Market
Drivers: Growing adoption of high-speed internet and Growing impetus to IoT
Cellular M2M communication enables worldwide interacting between independent vehicles and/or Internet connectivity to MTC devices. M2M connectivity is distinct from human-to-human communication, which contains mainly voice calls, texting, and web surfing.
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