PUBLISHER: The Business Research Company | PRODUCT CODE: 1391083
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391083
“Cellular M2M Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cellular m2m market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cellular m2m? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cellular m2m market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Cellular M2M (Machine-to-Machine) refers to communication between any two devices facilitated by SIM (Subscriber Identity Module) cards from any location.
The primary types of cellular M2M services include connectivity services, professional services, and managed services. Cellular M2M professional services are designed to assist customers in the development and deployment of customized machine-to-machine applications and solutions. These services cater to both large enterprises and small and medium enterprises (SMEs) and find applications in various fields such as asset tracking and monitoring, predictive maintenance, telemedicine, fleet management, warehouse management, industrial automation, smart meters, and others. Cellular M2M services are applied across different industries, including healthcare, energy and utilities, transportation and logistics, manufacturing, and more.
The cellular M2M market research report is one of a series of new reports from The Business Research Company that provides cellular M2M market statistics, including cellular M2M industry global market size, regional shares, competitors with a cellular M2M market share, detailed cellular M2M market segments, market trends and opportunities, and any further data you may need to thrive in the cellular M2M industry. This cellular M2M market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cellular m2m market size has grown exponentially in recent years. It will grow from $14.39 billion in 2023 to $17.87 billion in 2024 at a compound annual growth rate (CAGR) of 24.2%. The expansion observed in the historical period can be attributed to various factors, including the growth in demand for connectivity, increased adoption of industrial automation, expansion in fleet management solutions, a heightened demand for energy management, and an increased number of smart cities. These factors collectively contributed to the growth of cellular M2M services during this period.
The cellular m2m market size is expected to see exponential growth in the next few years. It will grow to $42.14 billion in 2028 at a compound annual growth rate (CAGR) of 23.9%. Anticipated growth in the forecast period can be attributed to various factors, including the expanding applications of cellular M2M in healthcare, the continuous growth of healthcare infrastructure, increased government investments in research and development, a rising need for smart agriculture solutions, and the increasing adoption of 5G technology. Noteworthy trends expected in the forecast period encompass the expansion of the Internet of Things (IoT), a growing focus on edge computing, increased applications in industrial automation, strategic partnerships within the industry, and innovative product launches.
The growth of the cellular M2M (Machine-to-Machine) market is expected to be fueled by the widespread adoption of high-speed internet and connectivity technologies, particularly 4G and 5G. The increasing prevalence of wireless networking across various industries is enhancing communication with consumers and making operations more flexible. M2M communications, facilitated by cellular networks, can operate over wide area networks (WANs). The speed and reliability of 5G are anticipated to have a significant impact on M2M applications. As of April 2023, data from 5G Americas, a U.S.-based trade organization representing major telecommunications companies, reported a 76% increase in global 5G wireless network connections, reaching 1.05 billion between the end of 2021 and the end of 2022. This surge in high-speed internet and connectivity adoption is expected to drive the growth of the cellular M2M market.
The rapid growth of the Internet of Things (IoT) is set to be a key driver for the cellular M2M market in the foreseeable future. IoT, characterized by the interconnection of physical objects, devices, and processes through the exchange of data over the internet or other communication networks, acts as a crucial catalyst for cellular M2M. The integration of applications, sensors, and other technologies within IoT enhances the scope and utility of cellular M2M across diverse sectors. Real-time data provided by IoT facilitates improved decision-making processes, automation, and efficiency. According to IoT Analytics GmbH, the global number of connected IoT devices is expected to rise by 16% to 16.7 billion in 2023. This exponential growth in the Internet of Things is a significant driver for the cellular M2M market.
Companies in the cellular M2M market are responding to the growing demand for mobile payments by investing in the integration of payment terminals. This strategy aims to meet the changing purchasing behavior of consumers. For example, Peplink, a U.S.-based SD-WAN technology provider, expanded its partnership with M2M Connectivity in November 2021 to address the increasing consumer demand for 5G and LTE corporate connectivity offerings in the region. M2M Connectivity, based in Australia, operates in the field of cellular M2M. This trend underscores the importance of adapting to evolving payment preferences and integrating flexible point-of-sale systems with fully integrated user experiences.
Major companies in the cellular M2M market are actively pursuing strategic collaborations to enhance their offerings, as demonstrated by the collaboration between Nordic Semiconductor ASA and AVSystem. Nordic Semiconductor ASA, a Norwegian semiconductor company, has partnered with AVSystem to simplify the development and maintenance of IoT solutions. The focus of this collaboration is to create an ultra-lightweight machine-to-machine (LwM2M) interface for IoT device management, ensuring secure and efficient control of IoT devices. This collaboration, announced in November 2021, aims to facilitate smooth interoperable LwM2M communication between Nordic's nRF9160 System-in-Package (SiP) and AVSystem's Coiote IoT Device Management. The goal is to provide developers with a user-friendly experience when using Nordic's cellular IoT technology for a broader range of M2M applications, including those in logistics and industrial automation. AVSystem, based in Poland, is a software and IoT device management company.
In March 2021, Siyata Mobile acquired ClearRF, LLC, a U.S.-based M2M cellular amplifier manufacturer specializing in commercial and industrial M2M applications. The acquisition, valued at approximately US$700,000, strategically complements Siyata's cellular booster division. ClearRF's product line and technology align with Siyata's goals to expedite its entry into the in-vehicle modem market for M2M boosters. The collaboration not only opens doors to new industry segments for Siyata but also establishes a strategic U.S. manufacturing partner.
Major companies operating in the cellular m2m market include Deutsche Telekom AG, AT&T Inc., Verizon Communications Inc., China Mobile Limited., Telefonica S.A., Aeris Communications India Pvt. Ltd., China Telecom Corporation Limited., 10T Holdings LLC, Arm Holdings plc., Infineon Technologies AG, Kore Wireless, Orange S.A., SK Telecom Co. Ltd., Vodafone Group PLC., Sierra Wireless, Telit Communications, Sigfox SA, Qualcomm Inc., ORBCOMM Inc., Sprint Corporation, Astrocast SA, Nokia Corporation, Huawei Technologies Co. Ltd., Belmont Telecom Inc., Cisco Systems Inc., Digi International Inc., Novatel Wireless Inc., Numerex Corp., Multi-Tech Systems, CalAmp Corp., Cubic Telecom, Telenor Connexion AB, Thales Group
North America was the largest region in the cellular M2M market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the cellular M2M market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the cellular M2M market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The cellular M2M market includes revenues earned by entities by providing cellular M2M services. The machines can be in communication through a wireless or wired connection. The cellular M2M is used for applications such as asset tracking and monitoring, predictive maintenance, telemedicine, fleet management, warehouse management, industrial automation and smart meters. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.