Cellular M2M Market Worth 11.50 Billion USD by 2020
PUNE, India, January 28, 2016 /PRNewswire/ --
According to a new market research report, "Cellular M2M Market by Application (Video Surveillance, Fleet Management, Asset Tracking, Theft Recovery and POS), by Service, by User Type, by Vertical & by Region - Global Forecast to 2020", published by MarketsandMarkets, the market size is estimated to grow from USD 3.22 Billion in 2015 to USD 11.50 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 29.0%.
Browse 71 market tables and 47 figures spread through 134 pages and in-depth TOC on "Cellular M2M Market"
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Decreasing cost of connectivity applications will drive the adoption of cellular based M2M VAS market.
With the advancement in embedded telematics segment, the wireless connectivity cost has decreased, which has benefitted the fleet owners, heavy equipment manufacturers, and cellular based M2M VAS applications providers. The decreasing connectivity cost has also enabled the emerging vendors to leverage the benefits of wireless M2M solutions and build embedded connectivity modules. With the decreasing connectivity cost, the adoption of cellular M2M Value Added Services applications is increasing across a wide spectrum of commercial industries especially in insurance and automotive sector; even small fleet owners are adopting new cellular M2M Value Added Services applications to ensure safety and security of vehicles and drivers.
Fleet Management market to play key role in the cellular M2M Value Added Services market
Fleet management cellular M2M helps in round the clock monitoring with details about the location, driver, material, and other important information about the vehicles. Fleet management solutions with the help of in-vehicle monitoring systems, provides identification of driving trends, driver behaviour, thus reducing the risk of accidents. It uses Global Positioning System (GPS) and Geographic Information System (GIS) for tracking the vehicle and for remotely protecting and receiving real-time information. The GPS and GIS systems also help in tracking and communicating with the cargo ships in real-time, thus enabling secured transportation of freight and cargo. Also, employing a definitive geographical positioning system in the modes of transport to identify geographical locations of the carrier and identifying bottlenecks in real-time minimizes costs and damages.
Asia-Pacific (APAC) is expected to witness the largest traction in the Cellular M2M Market.
North America is expected to have the largest market share in 2015; however, APAC will grow with the highest CAGR from 2015 to 2020. North America is foremost in deploying cellular M2M Value Added Services mobile apps, which are efficient in securing the digital documents transfer and collaboration among geographically diverse employees or locations. This market is in the growth stage in APAC, Middle East and Africa (MEA), and Latin America, as the communication technologies in these regions have immense scope for enhancement. Moreover, there is a huge return on investment (ROI) in the cellular M2M Value Added Services market, as opportunities for augmented performance are always increasing; hence, communication specialists and leaders continue to visualize more effectively about the need for cellular M2M Value Added Services solutions and services across all the regions.
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The major vendors in the cellular M2M Value Added Services market include AT&T Inc., Verizon Communication, China Mobile Ltd, Vodafone Group PLC, Amdocs, Aeris Communications, Deutsche Telekom AG, Sprint Corporation, Sierra Wireless, Telefonica, and others. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, and recent developments associated with the cellular M2M Value Added Services market.
The report segments the Cellular M2M Market into various sub segments with in-depth analysis and forecasting of revenues. MarketsandMarkets has segmented the global Cellular M2M Market by application type, user type, service, and region.
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