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Cellular M2M Market is Anticipated to Reach USD 30,695 million by 2027, Registering at a CAGR of 20.3% by 2027 | Size, Share & Forecast Analysis

09-23-2022 04:27 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Cellular M2M Market

Cellular M2M Market

Cellular M2M Market

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).

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/cellular-m2m-market-analysis-industry-research/

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. According to the report published by Statista, internet penetration rates in India has increased from 38.02% in 2018 to 47% in 2021, easy accessibility to internet, is expected to accelerate the Cellular M2M Market size in the approaching years. 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.

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 the growth of the segment.

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

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
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