The global cellular M2M market size was evaluated at $12 Billion in 2022 and is slated to hit $68 Billion by the end of 2030 with a CAGR of nearly 19.4% between 2023 and 2030.
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➤ Government initiatives that are advantageous to the global market trends, such as the implementation of cellular M2M communication modalities.
The government’s favorable initiatives to promote the deployment of cellular M2M communication modes for a variety of systems can be attributed to the rapid growth of the cellular M2M market worldwide during the assessment period. Additionally, the voice industry is currently facing saturation, necessitating the exploration of new domains, including M2M communication, by mobile network operators and firms.
➤ The global market growth is being impeded by the escalating security concerns that are a result of data sharing through cloud solutions.
The expansion of the global cellular M2M industry may be impeded by the increasing data security concerns that have arisen as a result of data sharing through cloud services at multiple locations. It has been reported that a significant number of cellular-driven M2M application providers map, store, and monitor personal data of individuals, vehicle and asset information, and remote access to a variety of IT systems. This has the potential to impede the expansion of the cellular M2M industry in the years ahead. Furthermore, the global industry’s expansion may be jeopardized by the increasing apprehension regarding the disclosure of critical information to vendors for promotional purposes.
➤ Implementation of AI, VR, AR, IoT, and big data analytics to generate growth opportunities for the global market
The global cellular M2M market will experience new growth opportunities as a result of the increasing acceptance of new technologies, including AI, IoT, virtual reality, and augmented reality. The global cellular M2M market will experience new growth opportunities as a result of the proliferation of connected objects, which will be driven by advancements in wireless communications and sensors & actuators.
➤ The global industry’s expansion is significantly impeded by the extensive utilization of cloud and mobile technologies, which has resulted in an increase in security threats.
The growth of the global cellular M2M industry has been significantly impeded by the necessity of regulating the flow of sensitive and critical information, access rights to online assets, and intellectual property protection, as well as the escalating security concerns with insurance data.
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The Global Cellular M2M Market is segmented based on product, application and region
Global Cellular M2M Market: Product Segment Analysis
● Connectivity
● Managed
● Professional
Global Cellular M2M Market: Application Segment Analysis
● Healthcare
● Transportation & Logistics
● Energy & Utilities
● Manufacturing
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The global Cellular M2M market profiles key players such as:
● Vodafone
● Truphone
● Telit
● Deutsche Telekom
● Aeris Communications
● Sierra Wireless
● Orange S.A.
● Rogers communications
● Cubic Telecom
● Infineon Technologies
● Verizon Communication Inc.
● Amdocs Inc.
● Kore Wireless
● Ericsson
● China Mobile Limited
● Orbocomm
● AT&T Inc.
● Sprint Corporation
???? Recent Developments
• Verizon Company, a wireless networking company headquartered in the United States, established its 5G network unit at the University of Illinois in the latter half of 2020. Additionally, the initiative will motivate students and start-ups to implement robotics and IoT equipment, thereby facilitating the growth of the cellular M2M industry in the United States and North America.
• In October 2020, T-Mobile, a prominent telecommunications company in the United States, effectively conducted a field test of NB-IoT on a live commercial networking facility. Transferring data over dedicated platforms with IoT technologies that have emerged from LTE technology will be more efficient as a result of the transition. The initiative will contribute to the expansion of the global cellular M2M market.
➤ The cellular M2M market in North America is expected to experience significant growth between 2023 and 2030.
During the forecasting years, the North American subcontinent’s cellular M2M market is expected to experience extraordinary growth. The adoption of new technologies, such as cloud and mobile technologies, in cellular M2M services may influence the growth of the regional market in 2023-2030. Additionally, the subcontinent is home to significant industry actors, including Verizon, AT&T, and T-Mobile.
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