According to a recent report published by Allied Market Research, titled, “Cellular M2M Market by Service, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2030,” the global cellular M2M market size was valued at $10.62 billion in 2020, and is projected to reach $83.23 billion by 2030, registering a CAGR of 23.2 % from 2020 to 2030.
Cellular M2M communication solutions are enabling newer reaches for the industrial Internet of Things world, with faster communications networks automation of nodes are becoming highly feasible as response speeds are increasing. For instance, M2X Data Service from American telecommunication services provider AT&T Inc. allows organizations to collect, analyze, and share time series data from connected devices in real time.
Industrial Internet of Things trends have grown in popularity in the past few years. Industry 4.0 is empowering manufacturing plants and businesses with automation, monitoring support, and predictive maintenance of machinery and other crucial tools. These trends suggest strong growth opportunities for the global cellular M2M market analysis in the future.
In 2020, the global cellular M2M market share was dominated by the connectivity services segment, and is expected to maintain its dominance in the upcoming years. This is attributed to the introduction of state policies, which enable a wider deployment of cellular M2M in key sectors such as utilities, smart cities, automotive, and healthcare. Furthermore, Cisco predicted that by 2022, global mobile devices will grow from 8.6 billion units in 2017 to 12.3 billion units by 2022. Such huge growth will reciprocally have a positive impact on the cellular M2M industry.
Furthermore, the demand for connectivity services is increasing with increase in complicated applications being deployed by customers. Services must ensure that networks are secure, reliable, scalable, and offer coverage in remote areas. Hence, providing roaming services and SIMs with global coverage has become a pivotal function in creating end-to-end IoT solutions.
Cellular M2M professional services arm can address the technology skill requirement of any organization that intends to develop new M2M applications. It is consequently focused on the execution of superior M2M programs, which meet the needs of clients, and is administered by the IT vendors by using people, process, and data technologies.
Post COVID-19, the size of the global cellular M2M market is estimated to be $12,771 million in 2021, and is projected to reach $83,233 million by 2030. The global COVID pandemic outbreak has had an overall positive impact on the global cellular M2M market, which is projected to increase following the COVID-19 pandemic. This is attributed to the fact that many businesses were forced to transition to remote working and made it difficult for workers to be available on the field due to the rapid spread of coronavirus around the world. Thus, cellular M2M systems has helped many businesses and manufacturing plants to monitor, record, operate, and diagnose many of their tools without actually having to send an employee on the field to do so.
The COVID pandemic has had an overall favorable influence on the cellular M2M industry, owing to a sudden need for the use of remote monitoring and operating tools, resulting in creating higher demands for cellular M2M technology and tools. For instance, a IoT solutions provider, Aeris encouraged their remote patient health solutions that monitors patient location, movement patterns, and patient vitals such as heart rate, glucose levels, and blood pressure. Such solutions helped healthcare professionals to monitor patients in isolation during the COVID pandemic.
Key Findings Of The Study
- By service, in 2020, the connectivity services is expected to be the major shareholder. However, professional services is expected to witness highest growth rate during the forecast period.
- On the basis of application, the asset tracking & monitoring segment accounted for the highest revenue in 2020, however, the predictive maintenance is expected to witness highest growth rate during the forecast period.
- Depending on industry vertical, the manufacturing accounted for the highest revenue in 2020, however, the transportation & logistics segment is expected to witness highest growth rate during the forecast period.
- Region wise, the Cellular M2M market trends was dominated by Asia-Pacific. However, LAMEA is expected to witness significant growth in the upcoming years.
Some of the key companies mentioned within the report are AT&T, Verizon Communications Inc., T-Mobile, Vodafone, Orange S.A., Telefónica, S.A. , Deutsche Telekom AG , Telefonaktiebolaget LM Ericsson , KORE Wireless Group, and Aeris Communications India Pvt. Ltd.