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Cellular M2M Global Market Report 2023
Major players in the cellular M2M market are Deutsche Telekom AG, AT&T Inc., Verizon Communications Inc., China Mobile, Telefonica S.A., Aeris, China Telecom, 10T, Arm Holdings, Infineon, Kore Wireless, Orange S.
New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cellular M2M Global Market Report 2023" - https://www.reportlinker.com/p06248527/?utm_source=GNW
A., SK Telecom, Vodafone Group PLC, and Sierra Wireless.
The global cellular M2M market grew from $11.79 billion in 2022 to $15.29 billion in 2023 at a compound annual growth rate (CAGR) of 29.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The cellular M2M market is expected to grow to $36.47 billion in 2027 at a CAGR of 24.3%.
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.
Cellular M2M is the communication between any two devices from any location with enabled (subscriber identity module) SIM cards.
North America was the largest region in the cellular M2M market in 2022.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 main types of cellular M2M services are connectivity services, professional services and managed services.Cellular M2M professional services are available to assist customers in the development and deployment of custom M2M (machine-to-machine) applications and solutions.
The cellular M2M services are offered to large enterprises, and small and medium enterprises (SMEs) for various applications such as asset tracking and monitoring, predictive maintenance, telemedicine, fleet management, warehouse management, industrial automation, smart meter and others and are applied in various areas including healthcare, energy and utilities, transportation and logistics, manufacturing and other industries.
The adoption of technologies with high-speed internet and connectivity, such as 4G and 5G, is expected to fuel the growth of the cellular M2M market in the forecast period.Wireless networking is becoming more common across industries as it is used to communicate with consumers and make operations more flexible.
M2M communications can be carried out over wide area networks (WANs), which are enabled by cellular networks. 5G speed and reliability are expected to have a massive impact on M2M. For instance, the 5G services market is expected to increase from 69.39 million in 2020 to 177.87 million in 2025, thus supporting the growth of the market. Therefore, the adoption of high-speed internet and connectivity technologies, such as 4G and 5G, is expected to drive the growth of the cellular M2M market.
Increasing concerns about data privacy and security hindered the market growth in the historic period. Rising device hacking incidences for unauthorized access in wireless communication intrusion is a reason behind increasing concern for data privacy and security For instance, according to the cybersecurity threatscape report by Positive Technologies, a Russia-based cybersecurity company, the number of cyberattacks increased by 17% in Q1 of 2021 as compared to Q1 2020, and it increased by 1.2% as compared to Q4 2020. Moreover, in June 2022, according to Forbes, a US-based business magazine, the average frequency of data breaches and cyberattacks rose by 15.1% in 2021 compared to 2020. Therefore, the rising concern about security and data privacy negatively impacted the market growth.
The companies in the market are increasingly investing in integrating payment terminals to cater to the growing demand for mobile payments.The companies in the market are increasingly integrating flexible point-of-sale systems with fully integrated UX to cater to the changing purchasing behaviour.
For instance, in 2020, Verizon Communications Inc., a US-based cellular M2M company, launched its new solution, Clover Flex, in partnership with Finserv, which is a mobile point-of-sale device that can enable touchless payments.
In December 2020, Wireless Logic, a leading global IoT connectivity platform provider, acquired Arkessa Ltd. for undisclosed amount. Arkessa is a global IoT cellular connectivity services provider headquartered in the UK. This acquisition is expected to strengthen Wireless Logic market position through Arkessa’s team of IoT and M2M experts who are specialized in the integration of multiple networks and emerging wireless technologies.
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 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.
The cellular M2M market research report is one of a series of new reports 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.
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