Global Cellular M2M Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
1 Jun, 2021
The cellular M2M market consists of sale of cellular machine to machine (M2M) and related services by entities (organizations, sole traders and partnerships) that provides cellular M2M products and solutions. Cellular M2M is the communication between any two devices from any location with enabled (subscriber identity module) SIM cards. The machines can be in communication through a wireless or wired connection. Cellular M2M is used for applications such as asset tracking and monitoring, predictive maintenance, telemedicine, fleet management, warehouse management, industrial automation, and smart meters.
Global Cellular M2M Market Size And Drivers:
The global cellular M2M market is expected to grow from $7.19 billion in 2020 to $8.76 billion in 2021 at a compound annual growth rate (CAGR) of 21.77%. The growth is mainly due increasing adoption of wireless connectivity across industries to improve operational efficiency, quality of products and services, and technologies advancements in connectivity are also enhancing the market growth. The cellular M2M market is expected to reach $23.79 billion in 2025 at a CAGR of 28.37%. The adoption of technologies with high-speed internet and connectivity, such as 4G and 5G, is expected to fuel the growth of the cellular M2M market in the forecast period.
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Trends In The Global Cellular M2M Market
The companies in the cellular M2M market are increasingly investing in integrating payment terminals to cater to the growing demand for mobile payments. The companies in the market are increasingly integrating flexible point of sale systems with fully integrated UX, to cater to the changing purchasing behavior. For instance, in 2020, Verizon Communications Inc., a US based cellular M2M company launched its new solution, Clover Flex, in partnership with Finserv, which is a mobile point-of-sale device that can enable touchless payments.
Global Cellular M2M Market Segments:
The global cellular M2M market is further segmented based on services, organization size, application, end user and geography.
By Services: Connectivity Services, Professional Services, Managed Services
By Organization Size: Large Enterprises, Small And Medium Enterprises (SMEs)
By Application: Asset Tracking And Monitoring, Predictive Maintenance, Telemedicine, Fleet Management, Warehouse Management, Industrial Automation, Smart Meter, Others
By End-User: Healthcare, Energy And Utilities, Transportation And Logistics, Manufacturing, Others
By Geography: The global cellular M2M market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the cellular M2M market in 2020.
Read More On The Report For The Global Cellular M2M Market At:https://www.thebusinessresearchcompany.com/report/cellular-m2m-global-market-report
Cellular M2M Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides cellular M2M market overviews, analyzes and forecasts market size and growth for the global cellular M2M market, cellular M2M market share, cellular M2M market players, cellular M2M market segments and geographies, cellular M2M market’s leading competitors’ revenues, profiles and market shares. The cellular M2M market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches