New York, USA, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Research Dive states that the global cellular M2M market is estimated to garner a revenue of $45,398.9 million by 2027, and rise at a CAGR of 20.5% in the forecast period from 2020 to 2027. The all-inclusive report on cellular M2M market provides a brief summary of the current market scenario along with the key aspects of the industry, such as significant growth and restraining factors, challenges, and multiple growth opportunities. Besides, the report provides all the estimations of the market, making it easier and helpful for the novel participants to better understand the global market.
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Cellular M2M Market Dynamics
Analysts at Research Dive states that the government authorities across the globe are taking various initiatives to promote the deployments for cellular M2M solutions for multiple systems, which is the major factor anticipated to propel the growth of the global cellular M2M market. In addition, the increasing investment on high-speed internet along with advancements in connectivity technologies are other factors expected to boost the market growth. Conversely, massively rising data traffic and security threats across businesses may restrict the cellular M2M market growth in the coming years.
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Impact of COVID-19 Pandemic on the Cellular M2M Market
The COVID-19 outbreak has undesirably impacted the global cellular M2M market growth during the pandemic period, mainly due to the unprecedented lockdown and its effect on the global economy. Besides, the spending for innovation and R&D of cellular M2M platforms by organizations has decreased drastically during the crisis. However, the key industry players are taking many initiatives and adopting several strategies to hold a strong position in the unprecedented times.
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Connectivity Services Sub-segment to Witness Significant Growth
Based on services, the connectivity services sub-segment is predicted to have rapid growth and surpass a revenue of $14,093.8 million by 2027. This is majorly owing to the features of connectivity services such as rapid deployment, enhanced security, and intelligent data analysis. In addition, the massive increase in advanced applications like AI and cloud technology being deployed by enterprises worldwide is another factor expected to propel the sub-segmt’s growth in the cellular M2M market.
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Asset Tracking & Monitoring Sub-segment to be Most Lucrative
Based on application, the asset tracking & monitoring sub-segment is predicted to have a lucrative growth and garner a revenue of $4,020.4 million by 2027. This is mainly due to the massively growing popularity of e-commerce, which has hugely changed the distribution patterns across numerous businesses. Besides, incorporation of asset tracking in logistics & transportation industry is plays a key role in fixing problems, which is boost the sub-segment’s growth.
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SMEs Sub-segment to Hold Significant Revenue Share
Based on organization size, the small & medium enterprises (SMEs) sub-segment is projected to grow at a CAGR of 26.6% and hold a remarkable revenue share over the forecast period. Thisis majorly owing to the technological innovations and increasing investment on R&D activities across the small & medium businesses. In addition, government authorities across the developed as well as developing economies are taking initiatives such as financial support to encourage startup companies, which will drive the sub-segment’s growth in the cellular M2M market by 2027.
Transportation and Logistics End User Sub-segment to be Most Lucrative
The transportation & logistics sub-segment is expected to grow at a CAGR of 21.3% during the forecast period. The versatile role of cellular M2M and transportation & logistics in truck and driver connectivity, scheduling & tracking, real-time fleet management, route planning, and yard management is the significant factor predicted to drive the sub-segment’s growth in the coming future. Also, it provides advanced applications including tracking assets and fuel consumption, product shipments, monitoring maintenance, inventory, and others. Moreover, due to the increased adoption of cellular M2M in logistics sector, many companies are coming up with growth strategies and product innovations to strengthen their position in the global cellular M2M market. For example, in January 2018, Thuraya released its Thuraya T2M, Tracking and Monitoring platform, which is a dual-mode, mobile device for remote asset tracking & monitoring and superior M2M communications.
Asia-Pacific Region to be Most Profitable
By region, the Asia-Pacific cellular M2M market valued for $3,538.3 million in 2019 and is expected to hold the largest revenue share during the analysis period. This is majorly owing to the massive adoption of 5G technology adoption in the Asia- Pacific countries which is upsurging the demand for cellular M2M solutions. Besides, the official launches of commercial 5 G networks in nations such as China, Japan, Australia, and South Korea is driving the regional market growth.
Prominent Cellular M2M Market Players
The report presents several aspects of these major players such as strategic moves and business & financial performance of key players, latest developments, SWOT analysis, and product portfolio. Some of the key players of the global cellular M2M market are:
1. Infineon Technologies AG
2. Telefonica S.A
3. T-Mobile USA, Inc
4. 1oTOÜ
5. Telefonaktiebolaget LM Ericsson
6. AT&T
7. Verizon Communications, Inc
8. Cubic Telecom, Ltd
9. ORBCOMM
10. KPN
These players are executing several strategies to gain a dominant position in the global industry.
For instance, in October 2020, Verizon Communications, extended its 5G network services provision at University of Illinois Research Park’s innovation hub. The provision of 5G network will allow innovators, such as startups, students, and large corporations to create modern applications in all industries leveraging advanced technologies, such as IoT devices, robotics, ML, and analytics.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report
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