Global Cellular M2M Module Market is anticipated to witness exponential growth in the forecast period. Cellular M2M implies machine to machine communication among any devices, comprising wired as well as wireless. It includes industrial instrumentation with a sensor to interconnect with the application software about the recorded data, inventory level, viz temperature, and no. of units.
The factors that propel the growth of the cellular machine-to-machine (M2M) module market include high use of M2M technology for remote patient monitoring, presence of several large and small vendors, growing aged population, high life expectancy, and surge in the number of individuals with chronic disorders.
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On the other hand, there are factors that may hamper the growth of the market including growing security and privacy concerns. Globally, the market is anticipated to grow at a significant CAGR of 23.28% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
The market may be explored by service type, application, user type, vertical type, and geography. Based on service type, the market could span managed services and professional services. The “Managed services” segment led the cellular M2M module market in 2017 and will continue to lead in the forecast period. The key applications that could be explored in the cellular M2M module market include fleet management, video surveillance, asset tracking, pos and theft recovery.
The market could be explored based on user type as large enterprises and SMEs. The “Large Enterprises” segment led the market in 2017 and will continue to lead in the forecast period. The market could span as vertical as retail, automotive and transportation, energy and utilities, consumer electronics, healthcare, security, public safety and others.
North America accounted for the major share of the cellular M2M module market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increased deployment of LTE and 3G technologies, increase in usage of mobile devices and increased deployment of M2M modules in the electronic security segment. North America is followed by Asia-Pacific region.
Some of the key players that fuel the growth of the cellular M2M module market comprise Verizon Communication, AT&T Inc., Vodafone Group PLC, China Mobile Ltd, Aeris Communications, Amdocs, Sprint Corporation, Deutsche Telekom AG, Telefonica and Sierra Wireless. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Market Segment:
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Global Cellular M2M Module Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Gemalto
• Huawei Technologies
• Sierra Wireless
• Telit
Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/telecommunications-and-networks
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