The Asia Pacific Cellular M2M Market would witness market growth of 23.8% CAGR during the forecast period (2022-2028).
With the rise of the Internet of Things, more businesses are migrating to M2M solutions in order to maximize their revenues. In addition, various businesses, including large enterprises along with small and medium-sized enterprises, are significantly leveraging machine to machine modules with the purpose to offer enhanced and best-in-class customer experience to their clients. Moreover, there is a significant number of applications of this technology, including fleet management, hospitality, financial services, utilities, construction, agriculture, retail, transportation, and manufacturing. Furthermore, one of the key areas that are majorly utilizing M2M module is smart cities construction. The Cellular M2M module is majorly being utilized in this sector in order to maximize the efficiency of smart city projects.
One of the most common end-users of cellular M2M modules is the healthcare industry. The cellular M2M market is growing due to the aging population, high life expectancy, and rise in the number of people with chronic diseases. Individuals with cardiac arrest, apnea, and diabetes can be monitored using cellular M2M communications, which allows data to be transmitted. M2M modules must be embedded in cellular M2M patient monitoring devices, or they must be connected to an external M2M modem.
The increased popularity of cloud-based solutions, innovative technologies like the Internet of Things, big data analytics, and mobility in APAC are driving the regional market growth. The growing requirement for security and accessibility controls, as well as monitoring and surveillance solutions, has bolstered the adoption of cellular M2M solutions and services, making APAC a very promising regional market. Various regional business enterprises are collaborating with other communication service providers and mobile network operators to improve and give customized products to local business firms.
Multiple initiatives implemented by governmental bodies to encourage the deployment of cellular M2M solutions for various systems are driving the demand for cellular M2M solutions. The Indian Ministry of Communications' Department of Telecom (DoT) announced in April 2018 that it has issued 13-digit numbers to telecom carriers for the testing of M2M communications like car tracking technologies, smart electric meters, and other applications.
The China market dominated the Asia Pacific Cellular M2M Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,030.1 million by 2028. The Japan market is experiencing a CAGR of 23.1% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 24.7% during (2022 - 2028).
Based on Organization Size, the market is segmented Large Enterprises and Small & Medium Enterprises (SMEs). Based on Services Type, the market is segmented into Connectivity Services, Professional Services, and Managed Services. Based on Application, the market is segmented into Asset Tracking & Monitoring, Predictive Maintenance, Telemedicine, Warehouse Management, Industrial Automation, Fleet Management, Smart Meter, and Others. Based on End User, the market is segmented into Manufacturing, Healthcare, Energy & Utilities, Transportation & Logistics, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Cellular M2M Market is Projected to reach USD 38 Billion by 2028, at a CAGR of 21.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AT&T, Inc., Verizon Communications, Inc., Vodafone Group Plc, Orange S.A., Telefonica S.A., Deutsche Telekom AG, Ericsson AB, Giesecke & Devrient GmbH, Thales Group S.A., and Infineon Technologies AG.
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By Services Type
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