Cellular M2M Market by Service (Connectivity, Professional, and Managed), Application (Asset Tracking and Monitoring, Predictive Maintenance, Telemedicine, and Fleet Management), End User, Organization Size, and Region - Global Forecast to 2025
The global cellular M2M market size is projected to grow from USD 8.3 billion in 2020 to USD 21.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period. The cellular M2M market is gaining traction due to the growth in the adoption of Bring Your Own Device (BYOD) in most of the enterprises across the industry verticals. There has been an increasing need among SMEs and large enterprises to manage and optimize their business processes using cellular M2M applications. However, increasing concern of data privacy and security may act as a restraining factor for the growth the market.
Predictive maintenance application segment to grow at the highest CAGR during the forecast period
With the help of M2M, various organizations are making the use of predictive maintenance across verticals, such as healthcare, manufacturing, transportation and logistics, and energy and utilities. Predictive maintenance is a system developed to predict when a machine or device could potentially require repairs due to a failure. This offers numerous benefits, such as the reduction in maintenance costs, the elimination of breakdowns, the reduction in process downtime, and the increase in production.
Transportation and Logistics segment to grow at the highest CAGR during the forecast period
The transformation of transportation and logistics industry is significant with adoption of cellular M2M services and solutions at a global scale. Due to rapid digitalization, there are many key players along the value chain which can exchange information through M2M technology and enhance productivity. The digital transformation of small scale enterprises is also expanding their geographic reach helping to grow in the highly competitive industry. Use of connectivity is now considered to be necessary for an organization’s long-term sustainability.
Asia Pacific (APAC) region to record the highest growing region in the Cellular M2M market
APAC has several growing economies, such as China and Japan, which are expected to register high growth in the cellular M2M market. These countries have always supported and promoted industrial and technological growth. In addition, they possess a developed technological infrastructure, which is promoting the adoption of cellular M2M solutions across all industry verticals. The cellular M2M market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility. APAC is one of the biggest markets for connected devices
By Company Type: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%
By Designation: C-level – 55%, Directors – 40%, and Others – 5%
By Region: North America – 38%, Europe – 40%, APAC – 21%, and Rest of the World (RoW)– 1%
This research study outlines the market potential, market dynamics, and major vendors operating in the cellular M2M market. Key and innovative vendors in the cellular M2M market include AT&T (US), Verizon (US), T-Mobile (US), Deutsche Telekom (Germany), 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), KPN (Netherlands), A1 Digital (Austria), SK Telecom (South Korea), Rogers Communications (Canada), Telenor Connexion (Sweden), Truphone (UK), and 1oT (Estonia). These vendors have adopted many organic as well as inorganic growth strategies, such as new product launches, and partnerships and collaborations, to expand their offerings and market shares in the cellular M2M market.
The market study covers the Cellular M2M market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on services, applications, end users, organization size, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall Cellular M2M market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook