Cellular M2M market will reach $45,398.9 million in revenue
New York, USA, May 18, 2022 (GLOBE NEWSWIRE) — According to the latest report from Research Dive, the global cellular M2M market should increase at breathtaking speed 20.5% CAGRthus obtaining a revenues of $45,398.9 million in 2020-2027 Time range. This latest report, published by Research Dive, provides a brief overview of the contemporary architecture of the Cellular M2M Market including its key features such as growth drivers, growth opportunities, restraints, and barriers during the analysis period 2020-2027. All important market figures are also provided in this report to help new entrants understand the market better.
Drivers: In recent years, several governments around the world have undertaken various initiatives to promote the deployment of cellular M2M solutions supporting multiple digital systems. This government support is expected to become the main growth driver for the cellular M2M market. Along with this, rising investment in the broadband internet connectivity sector is expected to boost the market in the forecast period.
Opportunities: The integration of cellular M2M solutions in the agriculture and farming sector to boost agricultural productivity is expected to provide huge growth opportunities to the market over the analysis period. Additionally, the expanded scope of government initiatives to support cellular M2M solutions is expected to help drive the market forward.
Constraints: However, despite the various growth drivers and growth opportunities, the rapid increase in traffic between the companies is expected to act as a major impediment for the full-fledged growth of the cellular M2M market.
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Impact of Covid-19 on the market
The Covid-19 pandemic had been disastrous, to say the least. It has had a severe impact on industries across all sectors of the economy, mainly due to the strict lockdown in various countries. The cellular M2M market has also been strongly impacted by the pandemic. Investments and research and development expenditures related to cellular M2M solutions had decreased significantly during these pandemic years. However, some respite has been brought by the widespread digitization of enterprise services by several companies. This has helped the cellular M2M market recover some of its losses and embark on its growth.
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The report has fragmented the market into certain segments based on services, application, end user, organization size and region.
Services: Connectivity sub-segment will experience substantial growth
The connectivity sub-segment is expected to grow rapidly and generate a substantial revenue of $14,093.8 million by 2027. Core features such as enhanced security, rapid deployment, and intelligent data analytics have increased the demand for connectivity services for cellular M2M solutions. This is expected to be the most important driver for the growth of this sub-segment over the period 2020-2027.
Application: Asset tracking and monitoring sub-segment will be the most lucrative
The asset tracking and monitoring sub-segment is expected to grow lucratively and generate $4,020.4 million in revenue by 2027. The growing popularity of e-commerce websites, over the past years, has led to the incorporation of asset tracking systems to manage logistics. and transportation in a better way. This has led market analysts to predict huge growth for this sub-segment in the coming years.
End-user: transportation and logistics sub-segment will be the most profitable
The transportation and logistics sub-segment is expected to grow massively over the period 2020-2027 and bring in $7,118.0 million by 2027. The versatile role played by cellular M2M solutions in truck connectivity and drivers, planning and monitoring, real-time fleet management, etc. is expected to be the primary growth driver for this sub-segment over the forecast years.
Size of organization: the small and medium-sized business sub-segment will be the most profitable
The small and medium business sub-segment is expected to hold the most dominant market share generating revenue of $27,381.7 million by 2027. Major technological developments and growing number of investments in the research and development should help small and medium-sized enterprises. sub-segment in the forecast period.
Region: The Asia-Pacific market will flourish immensely
The cellular M2M market in Asia-Pacific is expected to have the highest market share and generate revenue of $15,744.3 million by 2027. Rapid deployment of 5G services and adoption growth of this technology is expected to drive the cellular M2M market in this region. .
Region: Asia-Pacific Holds Highest Market Share for Cellular M2M Market
Main market players
Some major players in the cellular M2M market are
- Infineon Technologies SA
- Verizon Communications Inc.
- Telefonica AG
- Cubic Telecom Ltd.
- T-Mobile USA, Inc.
- Telefonaktiebolaget LM Ericsson, among others.
These players are adopting various business strategies such as mergers, acquisitions, and collaborations to gain a leading position in the global market. – Inquire for more info @ https://www.researchdive.com/purchase-enquiry/5826
For example, in March 2021, Canada-Based Global IoT Solutions provider, Sierra Wireless announced the acquisition of M2M One NZ, a New Zealand technology company. This acquisition is expected to massively increase Sierra Wireless’ existing capabilities and help significantly expand its customer base.
Finally, the Research Dive report also summarizes many crucial aspects of the Cellular M2M market including SWOT analysis, latest strategic developments, key players’ financial performance, and product portfolio.
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