Allied Market Research published a new report, titled, ” The Cellular M2M Market Reach to USD 83.23 Billion by 2030, Growing with 23.2% CAGR.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Robust applications of cellular M2M and intense focus on improving global cellular network connectivity are the major factors that are drive the market growth. However, increase in data and network loads and data privacy challenges restrain the market growth. Conversely, rise in penetration of industrial Internet of Things and increased asset monitoring needs post COVID-19 pandemic are expected to create lucrative opportunities for the expansion of the market during the forecast period.
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The global cellular M2M market size was valued at USD 10.62 billion in 2020, and is projected to reach USD 83.23 billion by 2030, registering a CAGR of 23.2 % from 2020 to 2030.
The cellular M2M market is segmented into service, application, end user, and region. Based on service, the market is categorized into connectivity, professional and managed services. The application covered in the study include asset tracking & monitoring, predictive maintenance, telemedicine, fleet management, warehouse management, industrial automation, smart meter, and others (connected cars, point of sale (POS), and digital signage). By end user , the market is fragmented into healthcare, energy & utilities, transportation & logistics, manufacturing, and others (automotive and retail). The market is primarily studied across the regions such as North America, Europe, Asia-Pacific, and LAMEA.
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In 2020, the global cellular M2M market share was dominated by the connectivity services segment, and is expected to maintain its dominance in the upcoming years. This is attributed to the introduction of state policies, which enable a wider deployment of cellular M2M in key sectors such as utilities, smart cities, automotive, and healthcare.
The demand for connectivity services is increasing with increase in complicated applications being deployed by customers. Services must ensure that networks are secure, reliable, scalable, and offer coverage in remote areas. Hence, providing roaming services and SIMs with global coverage has become a pivotal function in creating end-to-end IoT solutions.
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Region wise, the Cellular M2M market trends was dominated by Asia-Pacific. However, LAMEA is expected to witness significant growth in the upcoming years. LAMEA is expected to witness significant growth, owing to increase in awareness and adoption of massive data technology, Internet of Things (IoT), and e-commerce among diverse industry sectors.
Some of the key companies mentioned within the report are AT&T, Verizon Communications Inc., T-Mobile, Vodafone, Orange S.A., Telefónica, S.A. , Deutsche Telekom AG , Telefonaktiebolaget LM Ericsson , KORE Wireless Group, and Aeris Communications India Pvt. Ltd.
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Key Findings Of The Study
● By service, in 2020, the connectivity services is expected to be the major shareholder. However, professional services is expected to witness highest growth rate during the forecast period.
● On the basis of application, the asset tracking & monitoring segment accounted for the highest revenue in 2020, however, the predictive maintenance is expected to witness highest growth rate during the forecast period.
● Depending on industry vertical, the manufacturing accounted for the highest revenue in 2020, however, the transportation & logistics segment is expected to witness highest growth rate during the forecast period.
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