Cellular M2M Market Report
Cellular M2M Market by Services (Connectivity Services, Professional Services, and Managed Services), Application (Asset Tracking & Monitoring, Predictive Maintenance, Telemedicine, Fleet Management, Warehouse Management, Industrial Automation, Smart Meter, and Others), End-User (Healthcare, Energy & Utilities, Transportation & Logistics, Manufacturing, and Others), Organization Size (Large Enterprises, and Small & Medium Enterprises [SMEs]), and Regional Analysis (North America, Europe, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027
pandemic has shown to have an enormous impact
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Impact of covid-19 on Cellular M2M Market
The global market for cellular M2M solutions forecast is expected to be $45,398.9 million by 2027 surging from $10,351.9 million in 2019 at a notable growth rate of 20.5%. The Asia-Pacific cellular M2M market is expected to surge at a CAGR of 20.7% by registering a revenue of $15,744.3 million in 2027. Massive 5G network adoption and major technological advancements in the Asia-Pacific countries may surge the demand for cellular M2M solutions during the forecast period.
Cellular M2M Market Analysis:
Cellular M2M communication allows devices to communicate with each other directly without any automation management and human intervention. These communication platforms mainly help in providing reliable and cost-effective remote management, connectivity, and hardware communication solutions to a wide range of industry verticals including energy & utilities, healthcare, manufacturing, and others across the globe.
Impact Analysis of COVID-19 on the Global Cellular M2M Market:
The COVID-19 pandemic has significantly impacted the growth of cellular M2M market. The rapid transmission of the coronavirus has created a health crisis along with financial crisis across the globe. Owing to the massive economic losses worldwide, the spending for research & innovation of cellular M2M platforms by organizations has slightly decreased. On the other hand, the outbreak of COVID-19 has spurred digital transformation in several areas, including energy & utilities, healthcare, and automotive. For example, in November 2020, NIPPON GAS CO.,LTD (NICIGAS), a Japan-based integrated energy retailer, announced to deploy of 900,000 ‘Space Hotaru’, a smart gas meter, in the residential homes throughout Japan by the end of 2020, amid the COVID-19 crisis. These meters are built with LTE-M connectivity and provided by using the SORACOM IoT SIM, a multiband and secure SIM card developed particularly for M2M and IoT. Such developments have positively affected the market during the pandemic.
Supportive government policies are expected to surge the demand for cellular M2M industry worldwide, in the coming years
The growth in the global industry for cellular M2M solutions is mainly driven by multiple initiatives taken by the government authorities to promote the deployments for cellular M2M solutions for various systems. In April 2018, Department of Telecom (DoT), a department of the Indian ministry of communications, announced that they have issued 13-digit numbers to telecom operators for the trial of M2M communications such as car tracking technology, smart electric meters, and others. Such factors may drive the growth of the global cellular M2M market, during the forecast period. Moreover, growing investment on high-speed internet combined with connectivity technologies, like 4G and 5G may help in bolstering the market in future. For instance, in January 2021, the U.K. government announced their investment of around $38 million (£28 million) for innovative trials of 5G use. The joint investment from government authorities and businesses will fund 9 UK-wide projects that will gain the advantages of 5G as well as help British industries.
These above-mentioned factors may flourish the global cellular M2M market during the analysis period.
To know more about global cellular M2M market drivers, get in touch with our analysts here.
Massively rising data traffic across the businesses may restrain the growth of the global cellular M2M industry
Massively rising security threats owing to the adoption of cloud and mobile technologies across the large and SMEs (small and medium) enterprises can hamper the global market growth during the forecast period. Furthermore, extensively increasing data traffic among business is also one of the major reasons obstructing the global market growth.
Incorporation of Cellular M2M solution in the agriculture sector may lead to create enormous opportunities for the market, in the coming years.
Food scarcity is one of the biggest problems globally and it drastically affects the semiarid and arid regions/countries. Moreover, crop diseases can also have a devastating impact on economy and humanitarian aid. Hence, the demand for more efficient and smarter agriculture is on the rise as farmers seek to enhance yields and reduce costs. In recent several years, M2M cellular technology is increasingly leading to the creation of innovative application and services that are mainly utilized in the agricultural value chain in order to provide most required resources to the farmers. Cellular M2M solutions play a crucial role in managing livestock and crops, monitoring equipment, keeping track of tractors and harvesters, and assessing the environmental impact of production. Owing to the above-mentioned factors, adoption of cellular M2M tools in the agriculture may create favorable conditions for the global industry in the future.
To know more about global cellular M2M market opportunities, get in touch with our analysts here.
Global Cellular M2M Market, by Services:
The connectivity services sub-segment for the cellular M2M market will have significant market growth; this is mainly due to its key features such as intelligent data analysis and enhanced security.
Source: Research Dive Analysis
The connectivity services sub-segment of the global cellular M2M market is predicted to have the rapid growth and is expected to surpass $14,093.8 million by 2027, with a rise from $3,117.7 million in 2019.
The exponential growth in the connectivity services for cellular M2M market is mainly attributed to its features including rapid deployment, intelligent data analysis, and enhanced security. Moreover, the massive increase in advanced applications such as cloud and AI technology being deployed by enterprises across the globe, has led to the need for secure and reliable networks. In addition, these connectivity services are ideal for low power consumption combined with industry specific data collection applications. Furthermore, M2M connectivity services are capable of monitoring SIM status, data usage and customized reporting. Owing to these potentialities, the demand for M2M connectivity services is expected to rise which may ultimately drive the market.
Global Cellular M2M Market, by Application:
Asset tracking & monitoring sub-segment for cellular M2M market will have lucrative growth, during the forecast period
Source: Research Dive Analysis
The asset tracking& monitoring sub-segment for the global cellular M2M market is predicted to have a lucrative growth, and it is expected to generate a revenue of $4,020.4 million by 2027, at CAGR of 22.2%.
In recent years, the massively increasing popularity of e-commerce has tremendously changed the distribution patterns across various businesses. Also, incorporation of asset tracking in industries like logistics & transportation plays a key role in fixing problems, including inefficient processes, poor operational performance, and theft or loss of valuable assets. Moreover, the M2M asset tracking application also helps enterprises in effectively tracking their assets to enhance employee safety and optimizing supply chain. These factors may bolster the market growth in the coming years.
In addition to this, market players operating in the developed as well as developing nations are coming-up with novel product innovations. For example, in December 2020, ORBCOMM, the U.S.-based significant provider of IoT solutions, announced that it had launched a satellite as an accessory offering for cellular asset tracking and monitoring devices. The satellite is built with dual-mode connectivity that is cost-effective, reliable, and has an expanded coverage for transportation solutions. Moreover, in November 2019, Thuraya Telecommunications Company., a United Arab Emirates-based regional mobile-satellite service provider, announced the introduction of the versatile T2M-DUAL IoT/M2M solution with highly enhanced capabilities. This platform plays a major role in financial and operational savings by allowing simultaneous data capture from mobile and fixed assets. Such key developments may create significant opportunities in the cellular M2M market in future.
Global Cellular M2M, by End User:
Transportation & logistics sub-segment for global cellular M2M market is anticipated grow at CAGR of 21.3% and register a revenue of $7,118.0 million by 2027
Source: Research Dive Analysis
The transportation & logistics sub-segment for the cellular M2M market will be a significantly growing sub-segment and is anticipated to register a revenue of $7,118.0 million by 2027. This is mainly due to its versatile role in truck and driver connectivity, real-time fleet management, scheduling and tracking, yard management and route planning. Moreover, it also provides advanced applications including fuel consumption and tracking assets, monitoring maintenance, product shipments, inventory, and others. These key benefits are propelling the adoption of transportation and logistics applications which may ultimately drive the market, during the forecast period. Hence, owing to the increased adoption of cellular M2M in logistics sector, companies are coming up with product innovations to strengthen their position in the global industry. For instance, in January 2018, Thuraya, a leading global satellite operator based in UAE, announced the official release of its Thuraya T2M, Tracking and Monitoring platform. The platform is a dual-mode, mobile device for superior M2M communications and remote asset tracking and monitoring. The platform also allows simultaneous collection of data from various points such as data from peripheral devices, external sensors, location information, and input gathered from vehicles. Such company developments may further lead lucrative opportunities for the market, in the coming years.
Global Cellular M2M Market, by Organization size:
The small & medium enterprises (SMEs)sub-segment for global cellular M2M market is in eye-catching demand mainly due to technological advancements coupled with rise in spending on research activities
Source: Research Dive Analysis
The small & medium enterprises (SMEs)sub-segment for cellular M2M industry is projected to generate a remarkable revenue of $27,381.7 million by 2027, growing at a CAGR of 26.6%. Major technological innovations coupled with increasing investment on research & development activities across the small & medium businesses can propel the sub-segment growth, during the forecast period. In addition to this, government authorities across the developed and developing economies are coming up with financial support in order to encourage startup companies. For instance, in July 2020, U.K. Government announced around $20 million new funding to support businesses nationwide, amid the COVID-19 crisis. Furthermore, government has also announced that SMEs operating in England can access grants between approximately $1,252.2–$6,261.3 (£1,000–£5,000) for novel technology & equipment deployment and specialist advice. Also, in September 2020, Indian government announced a package for micro and small & medium businesses in order to provide support, during COVID-19. The government has announced a package of U$2680 billion for the SMEs. Such robust support from government authorities may encourage the emerging players for upgradation, which may eventually boost the sub-segment growth, throughout the analysis period.
Asia-Pacific region had the largest share in 2020 and is predicted to reach up to $15,744.3 million by the end of 2027
Source: Research Dive Analysis
The Asia-Pacific market for cellular M2M technologies accounted $3,538.3 million in 2019 and is expected to generate a revenue of $15,744.3 million by 2027. Massive 5G technology adoption in the Asia- Pacific countries may surge the demand for cellular M2M solution, during the forecast period. As per research conducted by GSMA (Global System for Mobile Communications), an industry organization that represents the interests of mobile network operators worldwide, Asia Pacific region is on path to become a prominent 5G region worldwide by the end of 2025; the market is currently being led by significant 5G markets namely China, Australia, South Korea and Japan. Further, it is expected that the official launches of commercial 5G networks in these nations will reach up to 675 million users by 2025.
North America cellular M2M market registered a revenue of $2,405.8 million in 2019, and it is further estimated to cross $10,959.3 million by 2027. North American region has been significantly responsive towards the adoption of the latest technological innovations, such as integration of mobile and cloud solutions within cellular M2M technologies for optimum utilization of business resources and streamlining business processes. Also, strong presence of numerous market leaders including AT&T, Verizon, T-Mobile, and SORACOM, INC. and their effective strategy implementation to provide advanced cellular M2M solutions and services helps them to possess a huge customer base. In October 2019, Teltonika, a notable player in IoT, announced the partnership with SORACOM, INC. a leading provider of smart IoT connectivity in order to boost North America market entry. As per the partnership, both companies announced to provide smart connectivity, innovative networking devices, and cloud integration to cellular M2M and IoT projects.
Competitive Scenario in the Global Cellular M2M Market:
Technological development and merger s& acquisitions are the frequent strategies followed by significant market players
Source: Research Dive Analysis
Some of the leading cellular M2M market players are AT&T, Infineon Technologies AG, Verizon Communications Inc., Telefónica S.A., Cubic Telecom Ltd., T-Mobile USA, Inc., ORBCOMM, 1oTOÜ, KPN, and Telefonaktiebolaget LM Ericsson.
Established as well as start-up organizations operating in the cellular M2M industry are focusing majorly on advanced technological developments, mergers& acquisitions, business expansion, and others.
Porter’s Five Forces Analysis for Cellular M2M Market:
- Bargaining Power of Suppliers: Smart and highly advanced cellular M2M solutions will dramatically lessen the bargaining power of traditional suppliers. Moreover, suppliers of cellular M2M solutions will offer less value in comparison to the smart and connected constituents.
Hence, the bargaining power of the supplier is LOW.
- Bargaining Power of Buyer: The bargaining power of buyer in cellular M2M market is low. This is mainly because, in the cellular M2M industry, competition will not be mainly dependent on prices of M2M solution but shall be more involved with product differentiation. Thus, the bargaining power of the buyer is LOW.
- Threat of New Entrants: In the modern world, new entrants may face multiple barriers like high costs of complex technology and products. Hence, the threat of the new entrants is Moderate.
- Threat of Substitutes: There is no alternative product for cellular M2M solutions. Thus, the threat of substitutes is Low.
- Competitive Rivalry in the Market: Robust existence of key players such as AT&T, Infineon Technologies AG are creating huge rivalry in the international market. Further, strategic tie-ups, high spending on research & development, and business expansion are some of the factors increasing competitive rivalry among the key players.
Competitive rivalry in the market is High
Historical Market Estimations
Base Year for Market Estimation
Forecast timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Services
Segmentation by Application
Segmentation by End-User
Segmentation by Revenue Model
Key Countries Covered
The U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Rest of Europe, China, Australia, Japan, India, South Korea, Rest of Asia-Pacific, Latin America, Middle East, and Africa
Key Companies Profiled
Q1. What is the size of the global cellular M2M market?
A. The global cellular M2M market size was over $10,351.9 million in 2019 and is projected to reach $45,398.9 million by 2027.
Q2. Which are the major companies in the cellular M2M market?
A. T, Infineon Technologies AG, and Verizon Communications Inc., are some of the key players in the global cellular M2M market.
Q3. Which region possesses greater investment opportunities in the coming future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What is the growth rate of the Asia-Pacific cellular M2M market?
A. Asia-Pacific cellular M2M market is anticipated to grow at 20.7% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Telefónica S.A. and Cubic Telecom Ltd. companies are investing more on R&D activities for developing new products and technologies.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.2.By services trends
2.3.By application trends
2.4.By end-user trends
2.5.By organization size trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.1.by services type
3.8.2.by application type
3.8.3.by end-user type
3.8.4.by organization size type
3.9.Market value chain analysis
3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.4.Distribution channel analysis
184.108.40.206.Raw material suppliers
4.Cellular M2M Market, by Services
4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019 & 2027
4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019 & 2027
4.3.1.Market size and forecast, by region, 2019-2027
4.3.2.Comparative market share analysis, 2019 & 2027
5.Cellular M2M Market, by Organization Size
5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019 & 2027
5.2.Small and Medium Enterprises (SMEs)
5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019 & 2027
6.Cellular M2M Market, by Application
6.1.Asset Tracking and Monitoring
6.1.1.Market size and forecast, by region, 2019-2027
6.1.2.Comparative market share analysis, 2019 & 2027
6.2.1.Market size and forecast, by region, 2019-2027
6.2.2.Comparative market share analysis, 2019 & 2027
6.3.1.Market size and forecast, by region, 2019-2027
6.3.2.Comparative market share analysis, 2019 & 2027
6.4.1.Market size and forecast, by region, 2019-2027
6.4.2.Comparative market share analysis, 2019 & 2027
6.5.1.Market size and forecast, by region, 2019-2027
6.5.2.Comparative market share analysis, 2019 & 2027
6.6.1.Market size and forecast, by region, 2019-2027
6.6.2.Comparative market share analysis, 2019 & 2027
6.7.1.Market size and forecast, by region, 2019-2027
6.7.2.Comparative market share analysis, 2019 & 2027
6.8.1.Market size and forecast, by region, 2019-2027
6.8.2.Comparative market share analysis, 2019 & 2027
7.Cellular M2M Market, by End-User
7.1.1.Market size and forecast, by region, 2019-2027
7.1.2.Comparative market share analysis, 2019 & 2027
7.2.Energy and Utilities
7.2.1.Market size and forecast, by region, 2019-2027
7.2.2.Comparative market share analysis, 2019 & 2027
7.3.Transportation and logistics
7.3.1.Market size and forecast, by region, 2019-2027
7.3.2.Comparative market share analysis, 2019 & 2027
7.4.1.Market size and forecast, by region, 2019-2027
7.4.2.Comparative market share analysis, 2019 & 2027
7.5.1.Market size and forecast, by region, 2019-2027
7.5.2.Comparative market share analysis, 2019 & 2027
8.Cellular M2M Market, by Region
8.1.1.Market size and forecast, by services, 2019-2027
8.1.2.Market size and forecast, by organization size, 2019-2027
8.1.3.Market size and forecast, by application, 2019-2027
8.1.4.Market size and forecast, by end-user, 2019-2027
8.1.5.Market size and forecast, by country, 2019-2027
8.1.6.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by services, 2019-2027
18.104.22.168.Market size and forecast, by organization size, 2019-2027
22.214.171.124.Market size and forecast, by application, 2019-2027
126.96.36.199.Market size and forecast, by end-user, 2019-2027
188.8.131.52.Comparative market share analysis, 2019 & 2027
184.108.40.206.Market size and forecast, by services, 2019-2027
220.127.116.11.Market size and forecast, by organization size, 2019-2027
18.104.22.168.Market size and forecast, by application, 2019-2027
22.214.171.124.Market size and forecast, by end-user, 2019-2027
126.96.36.199.Comparative market share analysis, 2019 & 2027
188.8.131.52.Market size and forecast, by services, 2019-2027
184.108.40.206.Market size and forecast, by organization size, 2019-2027
220.127.116.11.Market size and forecast, by application, 2019-2027
18.104.22.168.Market size and forecast, by end-user, 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
8.2.1.Market size and forecast, by services, 2019-2027
8.2.2.Market size and forecast, by organization size, 2019-2027
8.2.3.Market size and forecast, by application, 2019-2027
8.2.4.Market size and forecast, by end-user, 2019-2027
8.2.5.Market size and forecast, by country, 2019-2027
8.2.6.Comparative market share analysis, 2019 & 2027
126.96.36.199.Market size and forecast, by services, 2019-2027
188.8.131.52.Market size and forecast, by organization size, 2019-2027
184.108.40.206.Market size and forecast, by application, 2019-2027
220.127.116.11.Market size and forecast, by end-user, 2019-2027
18.104.22.168.Comparative market share analysis, 2019 & 2027
22.214.171.124.Market size and forecast, by services, 2019-2027
126.96.36.199.Market size and forecast, by organization size, 2019-2027
188.8.131.52.Market size and forecast, by application, 2019-2027
184.108.40.206.Market size and forecast, by end-user, 2019-2027
220.127.116.11.Comparative market share analysis, 2019 & 2027
18.104.22.168.Market size and forecast, by services, 2019-2027
22.214.171.124.Market size and forecast, by organization size, 2019-2027
126.96.36.199.Market size and forecast, by application, 2019-2027
188.8.131.52.Market size and forecast, by end-user, 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by services, 2019-2027
18.104.22.168.Market size and forecast, by organization size, 2019-2027
22.214.171.124.Market size and forecast, by application, 2019-2027
126.96.36.199.Market size and forecast, by end-user, 2019-2027
188.8.131.52.Comparative market share analysis, 2019 & 2027
184.108.40.206.Market size and forecast, by services, 2019-2027
220.127.116.11.Market size and forecast, by organization size, 2019-2027
18.104.22.168.Market size and forecast, by application, 2019-2027
22.214.171.124.Market size and forecast, by end-user, 2019-2027
126.96.36.199.Comparative market share analysis, 2019 & 2027
8.2.12.Rest of Europe
188.8.131.52.Market size and forecast, by services, 2019-2027
184.108.40.206.Market size and forecast, by organization size, 2019-2027
220.127.116.11.Market size and forecast, by application, 2019-2027
18.104.22.168.Market size and forecast, by end-user, 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
8.3.1.Market size and forecast, by services, 2019-2027
8.3.2.Market size and forecast, by organization size, 2019-2027
8.3.3.Market size and forecast, by application, 2019-2027
8.3.4.Market size and forecast, by end-user, 2019-2027
8.3.5.Market size and forecast, by country, 2019-2027
8.3.6.Comparative market share analysis, 2019 & 2027
126.96.36.199.Market size and forecast, by services, 2019-2027
188.8.131.52.Market size and forecast, by organization size, 2019-2027
184.108.40.206.Market size and forecast, by application, 2019-2027
220.127.116.11.Market size and forecast, by end-user, 2019-2027
18.104.22.168.Comparative market share analysis, 2019 & 2027
22.214.171.124.Market size and forecast, by services, 2019-2027
126.96.36.199.Market size and forecast, by organization size, 2019-2027
188.8.131.52.Market size and forecast, by application, 2019-2027
184.108.40.206.Market size and forecast, by end-user, 2019-2027
220.127.116.11.Comparative market share analysis, 2019 & 2027
18.104.22.168.Market size and forecast, by services, 2019-2027
22.214.171.124.Market size and forecast, by organization size, 2019-2027
126.96.36.199.Market size and forecast, by application, 2019-2027
188.8.131.52.Market size and forecast, by end-user, 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
8.3.10.Rest of Asia Pacific
220.127.116.11.Market size and forecast, by services, 2019-2027
18.104.22.168.Market size and forecast, by organization size, 2019-2027
22.214.171.124.Market size and forecast, by application, 2019-2027
126.96.36.199.Market size and forecast, by end-user, 2019-2027
188.8.131.52.Comparative market share analysis, 2019 & 2027
8.4.1.Market size and forecast, by services, 2019-2027
8.4.2.Market size and forecast, by organization size, 2019-2027
8.4.3.Market size and forecast, by application, 2019-2027
8.4.4.Market size and forecast, by end-user, 2019-2027
8.4.5.Market size and forecast, by country, 2019-2027
8.4.6.Comparative market share analysis, 2019 & 2027
184.108.40.206.Market size and forecast, by services, 2019-2027
220.127.116.11.Market size and forecast, by organization size, 2019-2027
18.104.22.168.Market size and forecast, by application, 2019-2027
22.214.171.124.Market size and forecast, by end-user, 2019-2027
126.96.36.199.Comparative market share analysis, 2019 & 2027
188.8.131.52.Market size and forecast, by services, 2019-2027
184.108.40.206.Market size and forecast, by organization size, 2019-2027
220.127.116.11.Market size and forecast, by application, 2019-2027
18.104.22.168.Market size and forecast, by end-user, 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
126.96.36.199.Market size and forecast, by services, 2019-2027
188.8.131.52.Market size and forecast, by organization size, 2019-2027
184.108.40.206.Market size and forecast, by application, 2019-2027
220.127.116.11.Market size and forecast, by end-user, 2019-2027
18.104.22.168.Comparative market share analysis, 2019 & 2027
9.1.4.Recent strategic moves & developments
9.2.Infineon Technologies AG
9.2.4.Recent strategic moves & developments
9.3.Verizon Communications Inc.
9.3.4.Recent strategic moves & developments
9.4.4.Recent strategic moves & developments
9.5.Cubic Telecom Ltd.
9.5.4.Recent strategic moves & developments
9.6.T-Mobile USA, Inc.
9.6.4.Recent strategic moves & developments
9.7.4.Recent strategic moves & developments
9.8.4.Recent strategic moves & developments
9.9.4.Recent strategic moves & developments
9.10.Telefonaktiebolaget LM Ericsson
9.10.4.Recent strategic moves & developments
Cellular M2M is a method of communication that doesn’t require a third element in the form of human workforce or automated mechanics to function effectively. It works via the cloud services to help in efficient data flow from one source to the other. It allows businesses to take charge of their facilities while also keeping an eye on the functioning of their other activities. This form of correspondence is fast paced along with being economical and assists in providing solutions to domains such as healthcare, manufacturing, and more.
Effect of COVID-19 on the Industry
The pandemic in its peak along with the global lockdown brought a majority of the industries to a halt, hence slowing down the growth of the cellular M2M market. Many industries faced financial difficulties and many others had to completely shut down their businesses. The Cellular M2M market though initially faced a few issues and was able to pick up pace due to the need for digital communication. Many industries required services that would provide better ways to exchange crucial information. With research taking place round the clock, it became extremely crucial for the communication sector to be at its best functioning. Moreover, healthcare and energy & utilities were primarily involved to ensure the safe running of all other businesses.
The various Cellular M2M companies and their constant trials towards making communication more accessible have led to further growth of the global market.
For instance, in February 2019, AT&T, the world renowned network provider and telecommunications brand, stated that they will be collaborating with a start-up called Blues Wireless, an IoT brand, run by the former CTO of Microsoft, Ray Ozzie. The two aim to come with a new form of technology known as ‘Notecard,’ which aims to be a System-on-Module. It is also predicted to provide prepaid network connectivity along with a secure communication system.
In October 2019, Soracom, Inc an organization known to be a provider of smart connectivity and IoT facilities entered a partnership with Teltonika, a manufacture of equipment related to IoT and network devices. This move is expected to boost reach into the North American Region.
In January 2020, Sierra Wireless, a pioneer in IoT solution providers, acquired M2M Group of Companies, an established Australian brand that provides IoT connectivity services. This collaboration will allow Sierra Wireless to expand its reach into the Asia-Pacific Region as well.
The global cellular M2M market has been seeing rapid growth due to various technological initiatives such as investments in both 4G and 5G internet connectivity. With the world majorly working online during the Covid-19 pandemic and with the use of complex technology, stable and high-speed network is in high demand. It’s also interesting to note that the governments all over the world have been implementing various initiatives for the growth of the industry. In the month of April 2018, the Department of Telecom (DOT) declared the implementation of a 13 digit number to telecom operators. The reason behind this was to allow better car tracking technology as well as electric meters among others. These efforts are creating opportunities for the market to see a steady growth.
The latest report published by Research Dive predicted that the global cellular M2M market is set to gain in revenue of up to 45,398.9 million by 2027. The Asia-Pacific region is also expected to witness significant growth in the market. Additionally, many expert organizations in the market such as AT&T, Verizon Communications Inc, Cubic Telecom Ltd, ORBCOMM, KPN, Infineon Technologies AG, Telefónica S.A, T-Mobile USA, Inc, 1oTOÜ, and TelefonaktiebolagetLM Ericsson have been entering partnerships and creating advanced equipments to ensure seamless connectivity globally.
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