Advancement in Connectivity Technology Expected to Enhance the Growth of the Global Cellular M2M Market during the Projected Period, 2020-2027 - Exclusive Report [134 pages] by Research Dive
Global cellular M2M market is expected to experience a positive growth. The most lucrative sub-segments include connectivity, asset tracking and monitoring segment, and transportation and logistics. Asia-Pacific is expected to lead the market.
The global cellular M2M market is expected to garner a revenue of $45,398.9 million at a CAGR of 20.5% during the forecast period.
Regional Analysis: Asia Pacific Cellular M2M Market
The Asia-Pacific market for cellular M2M technologies accounted $3,538.3 million in 2019 and is expected to generate a revenue of $15,744.3 million by 2027. As per research conducted by GSMA (Global System for Mobile Communications), an industry organization that represents the interests of mobile network operators worldwide, Asia Pacific region is on path to become a prominent 5G region worldwide by the end of 2025.
Highlights of the Cellular M2M Market Report
The report has divided the market into different segments based on services, application, end-user, organization size, and regional outlook.
Connectivity sub-segment is expected to be the most lucrative with a revenue of $14,093.8 million during the forecast period. One of the main factors behind this growth is the feature of connectivity services such as low power consumption and industry specific data collection applications.
Asset tracking and monitoring sub-segment is predicted to record a maximum revenue of $4,020.4 million during the forecast period. One of attributor behind this growth is that asset tracking plays an essential role in fixing problems, including inefficient processes, poor operational performance, and theft or loss of valuable assets across industries.
Transportation and logistics sub-segment is expected to raise the highest revenue of $7,118.0 million in the projected period. This sector provides many benefits including monitoring maintenance, fuel consumption and tracking assets, inventory, product shipments, and others. This is a factor behind the growth of the segment.
Small & medium enterprises sub-segment is estimated to raise the highest revenue of $27,381.7 million. Increasing co-operation by the governments to encourage the growth of these small and medium enterprises is fueling the growth of the segment.
Increasing demand and adoption of high-speed internet and connectivity technologies, such as 4G and 5G by various industries, is one of the major factor behind the growth of the market. In addition, the governments of the developing countries are taking various initiatives to promote the distributions and implementations of cellular M2M solutions.
However, rising data traffic in various businesses is one of the major restraining factor behind the growth of the market.
Cellular M2M solutions are used for managing monitoring equipment, livestock and crops, keeping track of tractors and harvesters, and assessing the environmental impact of production, which is expected to create many opportunities for the market during the forecast period.
Top 10 Key Players of the Cellular M2M Market:
The most significant players of the global cellular M2M market include
COVID-19 Impact Analysis of the Cellular M2M Market:
The coronavirus pandemic has impacted the cellular M2M market in a negative way. This is because of the lockdown imposed across nations in order to curb the spread of the virus and its effect on the global economy. This resulted in the decreasing amount of the investment on the cellular M2M platforms. However, with many initiatives and strategies taken by the active players, the market is now back on the growth chart.
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