NEW YORK, Sept. 2, 2015 /PRNewswire/ --
Executive summary
The retail industry is an important vertical for cellular M2M connectivity with 231 million cellular connections today and a total market size of nearly 113 million POS terminals, ATMs, vending machines, parking meters, digital signs and fare collection devices worldwide Berg Insight forecasts that the number of cellular M2M connections in the retail industry will grow at a compound annual growth rate (CAGR) of 139 percent to reach 443 million connections worldwide in 2019 Shipments of cellular M2M devices will at the same time increase at a CAGR of 71 percent from 94 million units in 2014 to 132 million units in 2019
Cellular M2M technology enables devices such as POS terminals and ATMs to be used at new locations where fixed line connectivity is unavailable or impractical The technology has a more transformational effect on markets such as vending and parking, where machine operators need to reorganize their operations in order to benefit from the availability of real-time information The installed base of connected vending machines in North America reached 056 million units at the end of 2014, whereas the corresponding figure for EU28+2 was 015 million units The market is still in an early stage as penetration rates for North America and Europe are at 93 percent and 39 percent respectively
However, vending is also one of the fastest growing segments for connectivity solutions in the retail industry, driven by demand for cashless payment and vending telemetry solutions The North American market is projected to grow at a CAGR of 189 percent between 2014 and 2019, reaching 13 million connected vending machines at the end of the period Similarly, the European market is forecasted to grow at a CAGR of 282 percent to reach 05 million connections by 2019 The parking industry has been one of the earliest adopters of M2M communication technology and today approximately 60 percent of the world's 465,000 multi-space meters are connected, primarily to cellular networks
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