Press release
Cellular M2M Market is Predicted to Grow at a Robust CAGR of 19.3% for 2022-2032 | Report by FMI
Cellular M2M Market
In maintaining M2M device connections, connectivity is critical. Wireless communication is being more widely used in a variety of businesses. M2M has opened up a wide range of connectivity options for businesses with devices scattered across several sites.
The rapid spread of the coronavirus has generated a global health disaster as well as a significant financial problem. Organizations are reducing their investments in the development of cellular M2M solutions as a result of massive economic losses in the majority of sectors.
However, technological improvements and digitalization in many nations are projected to keep up demand for cellular M2M solutions in important verticals such as healthcare and utilities, reducing the need for human interaction.
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Furthermore, to restore operational efficiency and enhance productivity, enterprises are rapidly integrating mobile and cloud technologies, as well as big data and analytics capabilities coupled with cellular M2M solutions. Customers, businesses, and communication service providers now connect with business processes in new ways thanks to the internet and wireless technology.
The tremendous increase in M2M connections is having a major influence on how many companies across sectors do business by enhancing operational efficiency, product and service quality, and decision-making. Organizations are adopting next-generation connectivity technologies like 4G and 5G to allow innovation and achieve a competitive edge by connecting billions of devices, machines, and people in the hyper-connected region.
M2M is an important part of the growing Internet of Things revolution. M2M connections, together with big data analytics, cloud computing, sensors and actuators that may work together to run autonomous machines and intelligent systems, are all part of the Internet of Things. Sensing and actuation have provided M2M with a boost to IoT, thanks to recent improvements in wireless communications.
North America has been particularly quick to implement the most recent technology breakthroughs, such as cloud and mobile integration into cellular M2M solutions, in order to streamline company operations and maximize resource efficiency.
The area is a leader in the deployment of cellular M2M mobile apps, which are effective in safeguarding digital document sharing and cooperation among employees or sites that are geographically dispersed. Furthermore, North America is home to a large number of technology pioneers.
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Key Takeaways:
The connectivity services from the cellular M2M market are expected to grow at the fastest CAGR of 17.6% in the services sector.
Asset tracking and monitoring are expected to grow at a high rate in the application sector of the cellular M2M market, with a CAGR of 18.6%.
The market size for cellular M2M in the United States is expected to reach US$ 25 Billion by 2032, growing at a CAGR of 19% during the research period.
UK is expected to reach a market size of US$ 3 Billion in the cellular M2M by 2032, with a CAGR of 17.8% during the research period.
China's cellular M2M market is expected to be worth US$ 5 Billion by 2032, with a CAGR of 18.5% over the forecast period.
Japan is expected to have a market size for cellular M2M of US$ 4 Billion by 2032, with a CAGR of 17.4% during the research period.
By 2032, South Korea is expected to reach a market size of US$ 2 Billion in the cellular M2M, with a CAGR of 16.6% during the research period.
Key Players
AT&T, Verizon, T-Mobile, Vodafone, Telefonica, Ericsson, Arm Holdings, KPN.
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Key Segments
By Function:
Connectivity Services
Professional Services
Managed Services
By Application:
Asset tracking and monitoring
Predictive Maintenance
Telemedicine
Fleet Management
Warehouse Management
Industrial Automation
Smart meter
By Industry:
Healthcare
Energy and Utilities
Transportation and Logistics
Manufacturing
Others
By Region:
North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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