New York, USA, May 18, 2022 (GLOBE NEWSWIRE) -- As per Research Dive’s latest report, the global cellular M2M market is anticipated to rise at a stunning CAGR of 20.5%, thereby garnering a revenue of $45,398.9 million in the 2020-2027 timeframe. This latest report, published by Research Dive, provides a brief outlook of the contemporary architecture of the cellular M2M market including its major characteristics like growth drivers, growth opportunities, restraints, and hindrances during the analysis period of 2020-2027. All the important market figures are also provided in this report to help new entrants gain insights about the market easily.
Dynamics of the Market
Drivers: In the last few years, several governments across the globe have undertaken various initiatives to promote the deployments for cellular M2M solutions supporting multiple digital systems. This governmental support is predicted to become the primary growth driver of the cellular M2M market. Along with this, rise in investments in high-speed internet connectivity sector is anticipated to boost the market in the forecast timeframe.
Opportunities: Incorporation of cellular M2M solutions in the agriculture and farming sector to boost agricultural productivity is expected to offer huge growth opportunities to the market in the analysis period. Moreover, expanded scope of government initiatives to support cellular M2M solutions is predicted to help the push the market forward.
Restraints: However, despite the various growth drivers and growth opportunities, the swiftly increasing traffic across businesses is predicted to be a major restraint in 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 had severely impacted industries across all sectors of the economy, mainly due to the strict lockdown in various countries. The cellular M2M market, too, had been significantly impacted by the pandemic. The investments and spendings on the research and development related to cellular M2M solutions had drastically reduced in these pandemic years. However, some respite was provided by the widespread digitalization of services that was undertaken by several businesses. This helped the cellular M2M market to recover some of its losses and embark on its growth journey.
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Segments of the Market
The report has fragmented the market into certain segments based on services, application, end user, organization size, and region.
Services: Connectivity Sub-segment to Witness Substantial Growth
The connectivity sub-segment is expected to grow rapidly and garner a substantial revenue of $14,093.8 million by 2027. Critical features like enhanced security, rapid deployment, and intelligent data analysis have increased the demand for connectivity services for cellular M2M solutions. This is expected to be the most important factor behind the growth of this sub-segment in the 2020-2027 timeframe.
Application: Asset Tracking and Monitoring Sub-segment to be the Most Lucrative
The asset tracking and monitoring sub-segment is expected to have a lucrative growth and gather a revenue of $4,020.4 million by 2027. Increasing popularity of e-commerce websites, in the last few years, has led to incorporation of asset tracking systems to manage logistics and transportation in a better way. This has led market analysts to predict a huge growth in this sub-segment in the upcoming years.
End User: Transportation and Logistics Sub-Segment to be the Most Profitable
The transportation and logistics sub-segment is expected to grow massively in the 2020-2027 timeframe and garner $7,118.0 million by 2027. The versatile role played by cellular M2M solutions in truck and driver connectivity, scheduling and tracking, real-time fleet management, etc. is expected to be the main growth driver of this sub-segment in the forecast years.
Organization Size: Small and Medium Enterprises Sub-segment to be the Most Profitable
The small and medium enterprises sub-segment is expected to have the most dominant market share by generating a revenue of $27,381.7 million by 2027. Major technological developments and increasing number of investments in the research and development sector is expected to help the small and medium enterprises sub-segment in the forecast timeframe.
Region: Market in Asia-Pacific Region to Flourish Immensely
The cellular M2M market in the Asia-Pacific region is predicted to have the highest market share and generate a revenue of $15,744.3 million by 2027. Rapid deployment of 5G services and increasing adoption of this technology is expected to boost the cellular M2M market in this region.
Region: Asia-Pacific has the highest market share for Cellular M2M Market
Prominent Market Players
Some leading market players of the cellular M2M market are
- AT&T
- Infineon Technologies AG
- Verizon Communications Inc.
- Telefónica S.A.
- Cubic Telecom Ltd.
- T-Mobile USA, Inc.
- ORBCOMM
- 1oTOÜ
- KPN
- Telefonaktiebolaget LM Ericsson, among others.
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a leading position in the global market. – Inquire for more Insights@ https://www.researchdive.com/purchase-enquiry/5826
For instance, in March 2021, Canada-based global IoT solutions provider, Sierra Wireless announced the acquisition of M2M One NZ, a New Zealand technology firm. This acquisition is expected to augment the existing capabilities of Sierra Wireless massively and help in expanding their customer base substantially.
Finally, the Research Dive report also summarizes many crucial aspects of the cellular M2M market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
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