The Global Cellular M2M Market size is expected to reach $38 billion by 2028, rising at a market growth of 21.6% CAGR during the forecast period.
The interaction between two devices from any place with enabled SIMS, or Subscribers Identity Module Service, is known as machine to machine, or M2M. Wireless or wired connections can be used to link these machines with each other. M2M enables the utilization of a variety of services, including mobile assets, fleet cars, electric meters, and fixed assets. In addition, M2M connections are ideal for interconnecting machines that are already connected to the internet.
With faster and improved communications networks along with higher response rates, cellular M2M communication solutions are offering wider ranges for the commercial Internet of Things world. Automation of nodes is becoming extremely possible as reaction speeds increase. For example, AT&T Inc.'s M2X Data Service allows businesses to collect, analyze, and distribute time series data and information from connected devices in real-time.
Industrial Internet of Things, also called IIoT, technologies have been increasingly prevalent in recent years. Monitoring support, automation, and predictive machine maintenance along with other essential tools are all part of Industry 4.0, which gives manufacturing plants and enterprises a competitive advantage. These developments indicate significant potential growth tendencies for the worldwide cellular M2M market study.
Machine to Machine can certainly comprise industrial instrumentation through a sensor that communicates with software applications about the data obtained, such as temperature, inventory level, unit count, and so on. As a result, modern M2M communication has evolved into a network system that sends data to personal appliances as well. In addition, M2M communications are majorly being aided by the expansion of IP networks.
The COVID-19 pandemic caused a severe impact on various economies all over the world. Several businesses were significantly devastated as a result of the outbreak of the COVID-19 infection. In addition, the governments of several countries were forced to impose lockdowns in their nations. As a result, the manufacturing units of numerous goods were temporarily shut. Moreover, these lockdowns also caused a major disruption in the supply chain of various goods. Further, the COVID-19 led the healthcare industry to a significant failure due to the shortage of beds and oxygen in hospitals.
Food scarcity is one of the most critical problems that is being faced by people all over the world, especially poor people, in almost all the countries, and it has a particularly negative impact on semi-arid regions & arid regions and countries. Crop pests can also have a negative influence on the economy and humanitarian assistance. As a result, as farmers seek to increase yields while lowering costs, the requirement for more efficient and intelligent agricultural technologies and solutions is surging. In recent years, M2M cellular technology has accelerated the development of innovative applications and services that are mostly used in the agricultural value chain to supply farmers with the most vital and scarce resources.
Customers, businesses, as well as communication service providers are now connected with business processes in a completely new and advanced manner due to the continuously increasing developments in internet and wireless technology. The tremendous increase in M2M connections is offering multiple considerable advantages on the number of organizations across industries that are involved in businesses by enhancing operational efficiency, product and service quality, and decision-making. Organizations are adopting next-generation connectivity technologies like 4G and 5G to enable innovation and achieve a competitive advantage by connecting several devices, people, and machines in the hyper-connected region.
The rise of revolutionary technologies such as cloud and mobile has considerably benefited cellular M2M applications. Regulating the digital access rights and flow of sensitive data of digital assets, as well as intellectual property protection, are key concerns of cellular M2M application providers due to the sensitivity and security involved with insurance data. Data privacy and security is a significant barrier that must be effectively addressed. To handle data theft risks, effective access and control mechanisms must be established. Any unauthorized access to sensitive data can cause substantial losses to the company as well as its customers.
Based on Organization Size, the market is segmented Large Enterprises and Small & Medium Enterprises (SMEs). In 2021, the large enterprise segment acquired the largest revenue share of the cellular M2M market. Large organizations gain various advantages from cellular M2M service providers' assistance in optimizing network infrastructure, deploying cutting-edge apps that help them to minimize operational costs, increase operational efficiencies, solve IoT device difficulties, and identify & mitigate security threats. They are continually looking for ways to implement industry solutions that will help them improve their operational efficiency. The large-scale utilization of cellular M2M solutions is also owing to the significant customer base of these large enterprises. In order to fulfill evolving demands of customers all over the world, large enterprises are seeking an efficient and effective solution. Therefore, the growth of this segment is anticipated to flourish over the forecasting period.
Based on Services Type, the market is segmented into Connectivity Services, Professional Services, and Managed Services. In 2021, the professional services segment garnered a significant revenue share of the cellular M2M market. Any enterprise that desires to develop novel M2M applications can leverage the Cellular Machine to Machine professional services in order to meet their technology expertise requirements. As a result, it is focused on delivering great M2M programs that match the demands of customers, and it's managed by IT suppliers employing a perfect blend of process, people, and data technologies. Moreover, professional services offer increased accuracy and precision to the organization. This is owing to the fact that these services are provided by skilled professionals with a robust knowledge about the functions and features of the technology. Employing professional services can significantly increase the efficiency of an enterprise by reducing the number of errors through professional risk management 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. In 2021, the asset tracking and monitoring segment procured the largest revenue share of the cellular M2M market. Asset monitoring is majorly being utilized to address issues such as asset theft and loss, wasteful operations, as well as poor operational performance. The M2M asset monitoring tool enables organizations to manage assets efficiently in order to increase employee safety, automate processes, and optimize their supply chain. The application is significantly crucial for maintenance of the health of the asset as well as troubleshooting in the occurrence of any problem or emergency. In addition, utilizing M2M in asset tracking facilitated the company to monitor the condition of any machine or asset remotely. Owing to this, organizations can significantly increase their productivity and output by continuously maintaining the health of their assets.
Based on End User, the market is segmented into Manufacturing, Healthcare, Energy & Utilities, Transportation & Logistics, and Others. In 2021, the transportation and logistics segment registered a significant revenue share of the cellular M2M market. The adoption of cellular M2M solutions and services on a global scale has had a significant advantage on the transportation and logistics business. Many major players in the value chain can share data and information via M2M technology and improve their productivity as a result of rapid digitalization. The logistic and transportation processes are being revolutionized with the help of cellular M2M technologies, and firms are introducing customized solutions for efficient supply chain and delivery systems. Moreover, with the advent of GPS-based vehicles, the utilization of cellular M2M modules has been considerably increased in the transportation and logistics sector. Therefore, this segment is estimated to observe significant growth over the coming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 9.9 Billion |
| Market size forecast in 2028 | USD 38 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 21.6% from 2022 to 2028 |
| Number of Pages | 308 |
| Number of Tables | 503 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Organization Size, Services Type, Application, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, North America accounted for the largest revenue share of the cellular M2M market. North America has been quick in the deployment of the most recent and advanced technology breakthroughs, like mobile and cloud integration into cellular M2M solutions, in order to facilitate processes of a company and maximize resource efficiency. The region is a leader in the deployment of cellular M2M mobile applications, which are effective in protecting digital document sharing and cooperation among employees or sites that are geographically separated. Moreover, this region comprises a large number of technology pioneers. The headquarters of most of the key market players, including AT&T, and T-Mobile, are located in this region. These companies have a large customer base and provide superior cellular M2M solutions and services around the world. Therefore, the growth of the regional market is estimated to flourish over the forecast period owing to this factor.
Free Valuable Insights: Global Cellular M2M Market size to reach USD 38 Billion by 2028
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; AT&T, Inc. and Verizon Communications, Inc. are the forerunners in the Cellular M2M Market. Companies such as Telefonica S.A., Deutsche Telekom AG and Ericsson AB are some of the key innovators in the Market.
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.
By Organization Size
By Services Type
By Application
By End User
By Geography
The global cellular M2M market size is expected to reach $38 billion by 2028.
Growing utilization across the agriculture industry are driving the market in coming years, however, data confidentiality and privacy-related risks growth of the market.
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.
The expected CAGR of the cellular M2M market is 21.6% from 2022 to 2028.
The Large Enterprises segment acquired maximum revenue share in the Global Cellular M2M Market by Organization Size in 2021; thereby, achieving a market value of $23.9 billion by 2028.
The North America is the fastest growing region in the Global Cellular M2M Market by Region in 2021, and would continue to be a dominant market till 2028.
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