New York, USA, July 13, 2021 (GLOBE NEWSWIRE) -- The latest report by Research Dive states that the global cellular M2M solutions market is expected to experience noteworthy rise in revenue from $10,351.9 million in 2019 to over $45,398.9 million by 2027 at a steady CAGR of 20.5%.
Download Free Sample Report of the Global Cellular M2M Market: https://www.researchdive.com/download-sample/5826
Market Analysis
The extensive efforts by the government, to further propagate the use of M2M technology into various industries have initiated the accelerated growth of the market. M2M has launched advanced applications that could help in providing a solution to these issues that are especially prevalent in the agriculture sector. This application of new-age technology is set to help provide the farmers with the required resources. This is set to further boost the growth of the market.
Check out How COVID-19 impacts the Global Cellular M2M Market: https://www.researchdive.com/connect-to-analyst/5826
In a contrasting situation to this, due to several large and SME’s opting for cloud technology to store their data, it could lead to security issues. This could cause major losses to the companies, which could be in turn a hindrance to the market growth.
Segmental Analysis
The global cellular M2M solutions market is segmented into services, application, end user, and region.
Check out all Information and communication technology & media Industry Reports: https://www.researchdive.com/information-and-communication-technology-and-media
Connectivity Sub-segment Expected to Hold the Highest Market Share
By services, the connectivity sub-segment is predicted to experience rise revenue from $3,117.7 million in 2019 to over $14,093.8 million by 2027, resulting in the sector gaining the highest share in the market. The remarkable features it contains such as effective analysis of data, rapid deployment along with a high-level security which is set to further contribute to the sub-segment’s market growth.
Asset Tracking and Monitoring Sub-segment Predicted to Dominate the Market
By application, the asset tracking and monitoring sub-segment is predicted to surpass revenue of $4,020.4 million by 2027. This growth is primarily due to the widespread effect of e-commerce which has shifted the way businesses function in terms of distribution. The asset tracking technology is extensively used to keep an eye of the logistics and transportation sector and ensures that any instances of inefficiency, theft and poor performance are kept in check.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
Transportation and Logistics Sub-segment to Garner Highest Revenue
By end-user, the transportation and logistics sub-segment is set to gain the highest revenue over $7,118.0 million by 2027. This growth is credited to the use of M2M solution in the various functioning such as fuel consumption, yard management, planning of the route, and more. This extensive implementation of M2M is set to further propel the growth rate of the market in the forecast period.
Small and Medium Enterprises (SMEs) Sub-segment Set to Gain Momentum in the Market
By organization size, the small and medium enterprises (SMEs) sub-segment is set to gain the highest revenue of $27,381.7 million by 2027 at a CAGR of 26.6%. The use of modern style of technology along with contributions towards research and development is set to provide a growth opportunity to the market.
Regional Analysis
The Asia-Pacific region is predicted to witness a rise in revenue from $3,538.3 million in 2019 to over $15,744.3 million by 2027. This growth is due to implementation of 5G network technology in majority areas of the region. The Global System for Mobile Communications of GSMA reported that due to the high demand for 5G, the region is set to be a prominent figure in the market by 2025.
COVID-19 Impact on the Global Cellular M2M Solutions Market
This led to a decrease in the investment on the research and innovation initiatives within the market. On the other hand, the pandemic has spurred digital transformation in several areas, including healthcare, energy & utilities, and automotive. For instance, in November 2020, NIPPON GAS CO., LTD. announced to deploy 900,000 ‘Space Hotaru’, a smart gas meter, in the residential homes in the country by the end of 2020, amid the COVID-19 crisis. This is expected to help the market sustain during the pandemic period.
Key Market Players
The report contains a list of renowned market players who have been ensuring the uninterrupted growth of the market. They are as listed below:
1. AT&T
2. Verizon Communications, Inc
3. Cubic Telecom Ltd
4. ORBCOMM
5. KPN
6. Infineon Technologies AG
7. Telefonica S.A
8. T-Mobile USA, Inc
9. 1Otou
10. Telefonaktiebolaget LM Ericsson
For instance, in April 2020, Infineon Technologies, an expert in the production of microcontrollers and sensors in partnership with Tata Communications, a global telecommunications leader, launched the OPTIGA Connect eSIM. This product is packed with features such as the ability to connect to multiple networks in any geographical location.
The report offers many strategies and ideas of the top industry players functioning in the industry such as the current strategic plans & developments, financial performance, SWOT analysis, and product/service range. Click Here to Get Absolute Top Companies Development Strategies Summary Report
TRENDING REPORTS WITH COVID-19 IMPACT ANALYSIS
1. Advanced Persistent Threat (APT) Protection Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 (Download Free Sample Report: https://www.researchdive.com/download-sample/8335)
2. DevOps Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 (Download Free Sample Report: https://www.researchdive.com/download-sample/2801)
3. Cognitive Cloud Computing Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 (Download Free Sample Report: https://www.researchdive.com/download-sample/2800)
4. Quantum Computing Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 (Download Free Sample Report: https://www.researchdive.com/download-sample/8332)