Global Cellular M2M Market to grow at 20.4% CAGR, which is anticipated to reach USD 33 billion by 2030.
CRI Report has released a report titled “Cellular M2M Market – Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030” which is anticipated to reach USD 33 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 20.4% between 2020 and 2030. According to the report, In maintaining M2M device connections, connectivity is critical. Wireless communication is being more widely used in a variety of businesses. M2M has opened up a wide range of connectivity options for businesses with devices spread across several sites.
The market report on global Cellular M2M market includes in-depth insights as:
- The estimated value of the market was USD 8.9 billion in the year 2020.
- Region-wise, the market in North America, which held the largest market share of XX% in the year 2019, emerged as a key market for Cellular M2M Market.
- Based on application, Asset Tracking emerged as a key segment in the global Cellular M2M Market.
- Based on services, Connectivity emerged as a key segment in the global Cellular M2M Market
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“Customers, businesses, and communication service providers now connect with business processes in new ways thanks to the internet and wireless technology. The tremendous increase in M2M connections is having a massive impact on how many organizations across industries do business by enhancing operational efficiency, product and service quality, and decision-making. Organizations are adopting next-generation connectivity technologies like 4G and 5G to enable innovation and achieve a competitive advantage by connecting billions of devices, machines, and people in the hyper-connected region..”, according to this report
Without any automation management and human interaction, cellular M2M communication allows devices to communicate simply with each other. A wide range of industries including energy and utilities, healthcare, manufacturing, and others benefit from these communication platforms by delivering dependable and cost-effective remote management, connectivity, and hardware communication solutions. Its main means of communication is through machine to machine (M2M), which aids humans in a variety of ways. In order to take advantage of higher coverage and reduced network launch costs for M2M devices, many of them are now using cellular networks. A mobile phone’s dynamic protocol stack, high power consumption, and high cost make machine terminals similar to mobile phones.
Global Cellular M2M Market is segmented by application into Asset Tracking and Monitoring, Predictive Maintenance, Telemedicine, and Fleet Management. Asset monitoring has been utilized to address issues such as asset theft and loss, wasteful operations, and poor operational performance. The M2M asset monitoring tool enables organizations to manage assets efficiently in order to improve employee safety, automate processes, and optimize their supply chain. The application is essential for asset health maintenance as well as troubleshooting in the event of an emergency.
Key Players in the Market
- Some of the key players operating in the global Cellular M2M market are 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), Other Prominent Players
Get Valuable Insights into Global Cellular M2M Market
In the new report, CRI Report thrives to present an unbiased analysis of the global Cellular M2M market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by application into Asset Tracking and Monitoring, Predictive Maintenance, Telemedicine, and Fleet Management, by services into Connectivity, Professional, and Managed. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.
