Gmi Research's blog : Cellular M2M Market Size, Industry Share & Forecast– 2027
The Cellular M2M Market is expected to reach USD 30,695 million by the end of 2027, growing at a CAGR of 20.3% over the forecast period (2020-2027).
The factors driving the growth of Cellular M2M Market includes rise in the number of M2M connections around the world, increase in the internet penetration rates, commercialization of 5G services and growing deployment of cellular M2M solutions in smart cities, Healthcare and Automotive sector. Moreover, growing adoption of advanced technologies such as Internet of Things (IoT), Big Data Analytics, Machine Learning (ML) and Cloud Computing, rise in Government spending to create secure wireless facilities and improvements in telecommunication infrastructure, are some of the additional factors supplementing the market growth. In addition, the rise in the mobile subscription rates, increasing investments by leading players on research and development, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.
However, the growth of Cellular M2M Market is hindered due to security and privacy concerns related to deployment of M2M.
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The major players operating in the market are Deutsche Telekom, Telefonaktiebolaget LM Ericsson, Vodafone Group plc, Telefonica S.A., KORE Wireless Group, AT&T Inc., Verizon Communications Inc., T-Mobile, Aeris Communications, and Telit among others.
Based on Services, the Connectivity Services segment is predicted to capture the largest market share during the forecast period
Growing demand for roaming services and SIMs across the globe, are propelling Cellular M2M Market size.
Based on Application, the Asset Tracking & Monitoring segment is projected to hold the highest market share over the forecast period
Increasing sue of asset tracking and monitoring services to solve problems such as theft and loss of valuable assets and poor operational performance, are some of the factors responsible for the segment’s growth.
Based on Region, the North American region is anticipated to dominate the market during the forecast period
Presence of the leading players such as AT&T Inc. and Verizon Communications Inc., Government initiatives promoting the deployment of cellular M2M, rising population growth rates, improved living standards and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Key Development
- In 2020, Verizon Communications Inc., provided its 5G services at the University of Illinois Research Park’s innovation hub. The company provision aims to enable students, start-ups, and large organizations, to create modern applications across various industries, which can leverage advanced technologies, such as machine learning, robotics, analytics, and IoT.
Market Segmentation
Segmentation by Service
- Professional Services
- Managed Services
- Connectivity Services
Segmentation by Application
- Predictive Maintenance
- Asset Tracking & Monitoring
- Telemedicine
- Warehouse Management
- Fleet Management
- Industrial Automation
- Others
Segmentation by End User
- Transportation & Logistics
- Healthcare
- Energy & Utilities
- Manufacturing
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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