Cellular M2M Market
The key growth drivers of market include regulatory compliances, reduction in cost of connectivity apps, and growing traction for risk assessment & management.
PORTLAND, PORTLAND, OR, UNITED STATE, May 20, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Cellular M2M Market Expected to Reach USD 83.23 Billion by 2030 | Top Players such as – AT&T, Verizon and T-Mobile.” 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.
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.
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Robust applications of cellular M2M, improvement in global cellular network connectivity, and increase in its use are the factors driving the global cellular M2M market growth. However, the rise in data and network loads and challenges faced in data privacy measures create restraints in the growth of the market. As far as opportunities are concerned, growth in popularity of the industrial internet of things (IIoT) and increased asset monitoring needs after COVID-19 pandemic will open many doors of opportunities to the market players.
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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Based on end-user, manufacturing accounted for the largest market share in 2020, contributing to nearly two-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the transportation and logistics segment are estimated to witness the fastest CAGR of 27.4% from 2021 to 2030.
Based on the services, the connectivity services segment contributed to the largest share in 2020, accounting for more than two-thirds of the global cellular M2M market. However, the managed services segment is expected to lead the market with the manifestation of the highest CAGR of 25.8% from 2021 to 2030.
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Based on region, Asia-Pacific contributed to the highest share in 2020, followed by Europe and North America, holding around half of the total market share, and is expected to maintain the lead throughout the forecast period. On the other hand, LAMEA is expected to portray the fastest CAGR of 28.5% during the forecast period.
Leading players of the global cellular M2M market analyzed in the research include KORE Wireless Group, AT&T, T-Mobile, Vodafone, Telefónica, S.A., Deutsche Telekom AG, Orange S.A.,Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., Aeris Communications India Pvt. Ltd.
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Covid-19 Scenario:
● Social distancing norms and self-isolation policies were enforced in countries across the globe during the COVID-19 pandemic, forcing enterprises to limit their operations or shut them completely.
● The world embraced the remote working culture, boosting the penetration of cellular M2M communication solutions.
● During this pandemic, industries suffered from a shortage of on-site workers, which declined productivity and efficiency in many sectors.
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