Cellular M2M Market Is Expected To Reach USD 70 Bn By 2032 | Report By Future Market Insights

Monday, 20 June 2022, 9:05 am
Press Release: Future Market Insights

The cellular M2M market size is projected to grow to USD 70 billion by 2032. High-speed internet and connection technologies are becoming more widely used. According to the outcomes of the FMI analysis, during the projection period, thecellular M2M marketis expected to increase from USD 10 billion in 2021 to USD 24.17 billion in 2026, with a Compound Annual Growth Rate (CAGR) of 19.3%.

In maintainingM2M deviceconnections, connectivity is critical. Wireless communication is being more widely used in a variety of businesses.M2Mhas opened up a wide range of connectivity options for businesses with devices scattered across several sites.

The rapid spread of the coronavirus has generated aglobal healthdisaster as well as a significant financial problem. Organizations are reducing their investments in the development ofcellular M2Msolutionsas a result of massiveeconomiclosses in the majority of sectors.

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However, technological improvements and digitalization in many nations are projected to keep updemand for cellular M2M solutionsin important verticals such ashealthcareand utilities, reducing the need for human interaction. Furthermore, to restore operational efficiency and enhance productivity, enterprises are rapidly integratingmobile and cloud technologies, as well as big data and analytics capabilities coupled withcellular M2M solutions. Customers, businesses, andcommunicationservice providers now connect with business processes in new ways thanks to theinternet and wireless technology.

The tremendous increase inM2M connectionsis having a major influence on how many companies across sectors do business by enhancing operational efficiency, product and service quality, and decision-making. Organizations are adopting next-generationconnectivity technologieslike 4G and 5G to allow innovation and achieve a competitive edge by connecting billions of devices, machines, and people in the hyper-connected region.

M2Mis an important part of the growingInternet of Things revolution.M2Mconnections, together withbig data analytics,cloud computing, sensors and actuators that may work together to run autonomousmachines and intelligent systems, are all part of theInternet of Things. Sensing and actuation have providedM2Mwith a boost toIoT, thanks to recent improvements in wirelesscommunications.

North Americahas been particularly quick to implement the most recent technology breakthroughs, such ascloudand mobile integration intocellular M2M solutions, in order to streamline company operations and maximize resource efficiency. The area is a leader in the deploymentof cellular M2M mobile apps, which are effective in safeguarding digital document sharing and cooperation among employees or sites that are geographically dispersed. Furthermore,North Americais home to a large number of technology pioneers.

Key Takeaways:

• Theconnectivity servicesfrom thecellular M2M marketare expected to grow at the fastest CAGR of 17.6% in the services sector.
• Asset tracking and monitoringare expected to grow at a high rate in theapplicationsector ofthe cellular M2M market, with a CAGR of 18.6%.
• Themarket sizeforcellular M2Min theUnited Statesis expected to reach US$ 25 Billion by 2032, growing at a CAGR of 19% during the research period.
• UKis expected to reach amarket sizeof US$ 3 Billion in thecellular M2Mby 2032, with a CAGR of 17.8% during the research period.
• China’s cellular M2M marketis expected to be worth US$ 5 Billion by 2032, with a CAGR of 18.5% over the forecast period.
• Japanis expected to have amarket sizeforcellular M2Mof US$ 4 Billion by 2032, with a CAGR of 17.4% during the research period.
• By 2032,South Koreais expected to reach amarket sizeof US$ 2 Billion in thecellular M2M, with a CAGR of 16.6% during the research period.

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Key Players

• AT&T
• Verizon
• T-Mobile
• Vodafone
• Telefonica
• Ericsson
• Arm Holdings
• KPN

Key Segments

By Function:

• Connectivity Services
• Professional Services
• Managed Services

By Application:

• Asset tracking and monitoring
• Predictive Maintenance
• Telemedicine
• Fleet Management
• Warehouse Management
• Industrial Automation
• Smart meter

By Industry:

• Healthcare
• Energy and Utilities
• Transportation and Logistics
• Manufacturing
• Others

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa (MEA)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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