The global cellular machine to machine (M2M) market is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rapid expansion of IP networks in the emerging economies such as India and China.
Machine-to-machine (M2M) refers to a system of communication between electronic devices for exchanging data or for the communication without the need of human interaction/interference. This includes both wired and wireless devices. It transfers the data, which in form of instructions, to electronic devices. M2M communication can be utilized in various industry verticals such as retail, automotive, logistics, insurance, and automotive
Cellular M2M involves a utilization of point-to-point communication between sensors, hardware, and software to send the data with the help of cellular networks. The Internet of Things (IoT)-based devices relies on the cellular networks to send the data whose intermediaries are usually cloud-based or middleware platforms. The decreasing cost of connectivity has led to the rising adoption of M2M-based services and devices globally.
Market Trends, Drivers, Restraints, and Opportunities
- Rising penetration of IoT-based devices is anticipated to propel the growth of the market during the forecast period.
- Increasing demand for devices with embedded connectivity is expected to boost the market growth in the coming years.
- The COVID-19 pandemic had resulted in the lockdown of the manufacturing facilities. This, in turn, has halted the production of vehicles and consumer electronics, which plummeted the growth of the market. However, the market is anticipated to recover soon until the end of year 2021.
- Rapid growth of the e-commerce industry amidst the pandemic has boosted the adoption of M2M value-added services to track and monitor the vehicles and goods in real-time. Thus, the increasing adoption of M2M-based services has positively influenced the growth of the market.
- Growing integration of latest technology in cellular M2M services is expected to spur the market growth during the forecast period.
- Various government initiatives to boost the penetration of the machine across various industries is expected to benefit the market in the projected timeline.
Scope of the Report
The report on the global cellular machine to machine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Cellular Machine-to-machine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Applications (Healthcare, Retail, Manufacturing, Energy & Utilities, Automotive, Transport & Logistics, and Consumer Electronics)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Verizon Communication, AT&T Inc., Vodafone Group PLC, Amdocs, Sprint Corporation, China Mobile Ltd, Aeris Communications, Sierra Wireless, Telefonica, and Deutsche Telekom AG
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Cellular Machine to Machine Market Segment Insights
Transport & logistics segment to grow at a rapid pace
Based on applications, the market is segmented into healthcare, retail, manufacturing, energy & utilities, automotive, transport & logistics, and consumer electronics. In 2020, the transport & logistics segment accounted for a large market share owing to the rapid growth of the e-commerce industry, which increased the adoption of IoT-enabled devices to monitor and track the transport vehicles and orders.
M2M services use GPS technology to track the cargo to enable secured transportation over the course. Moreover, it minimizes the probability of order damage from dispatch to delivery. This segment is anticipated to grow at a rapid pace in the coming years.
The market in North America to expand at a high CAGR
In terms of regions, the global cellular machine to machine market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is projected to account for a significant market share during the forecast period owing to the early adoption of M2M technology in countries such as the US and Canada. The presence of major industry players and their high investment in M2M applications are expected to propel the growth of the market in the region.
Growing penetration of M2M applications in healthcare, automotive, insurance, and retail, among others in the region is positively contributing to the growth of the market. Moreover, the high ROI in the cellular M2M value-based services is anticipated to boost the regional market growth.
Segments
The global cellular machine to machine market has been segmented on the basis of
Applications
- Healthcare
- Retail
- Manufacturing
- Energy & Utilities
- Automotive
- Transport & Logistics
- Consumer Electronics
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Competitive Landscape
The major players of the market are Verizon Communication, AT&T Inc., Vodafone Group PLC, Amdocs, Sprint Corporation, China Mobile Ltd, Aeris Communications, Sierra Wireless, Telefonica, and Deutsche Telekom AG.
Companies are engaging in partnerships with state government bodies and are heavily investing in technology development to expand their market share. Moreover, they are collaborating with companies in various verticals to stronghold their market position.
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