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Jul 9, 2021
Change" - https://www.reportlinker.com/p06103717/?utm_source=GNW A., SK Telecom, Vodafone Group PLC, and Sierra Wireless. 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 market is expected to reach $23.79 billion in 2025 at a CAGR of 28.37%. 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. The cellular M2M is used for applications such as asset tracking and monitoring, predictive maintenance, telemedicine, fleet management, warehouse management, industrial automation, and smart meters. The main types of cellular M2M services are connectivity services, professional services and managed services.Cellular M2M professional services are available to assist customers in the development and deployment of custom M2M (machine-to-machine) applications and solutions. The cellular M2M services are offered to large enterprises and small and medium enterprises (SMEs) for various applications such as asset tracking and monitoring, predictive maintenance, telemedicine, fleet management, warehouse management, industrial automation, smart meter and others and are applied in various areas including healthcare, energy and utilities, transportation and logistics, manufacturing and other industries. North America was the largest region in the cellular M2M market in 2020.Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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.Wireless networking is becoming more common across industries as it is used to communicate with consumers and make operations more flexible. M2M communications can be carried out over wide area networks (WANs), which are enabled by cellular networks. 5G speed and reliability is expected to have a massive impact on M2M. For instance the 5G services market is expected to increase from 69.39 million in 2020 to 177.87 million in 2025, thus supporting the growth of the market. Therefore, the adoption of high-speed internet and connectivity technologies, such as 4G and 5G is expected to drive the growth of the cellular M2M market. In December 2020, Wireless Logic, a global leading IoT connectivity platform provider, acquired Arkessa Ltd., for undisclosed amount. Arkessa is a global IoT cellular connectivity services provider, headquartered in the UK. This acquisition is expected to strengthen Wireless Logic market position through Arkessa’s team of IoT and M2M experts who are specialized in the integration of multiple networks and emerging wireless technologies. Increasing concerns about data privacy and security hindered the market growth in the historic period.Rising device hacking incidences for unauthorized access in wireless communication intrusion is reason behind increasing concern for data privacy and security. For instance, according to the information tracked by Indian Computer Emergency Response Team around 110 central ministries/ departments websites and 48 state governments were hacked during the year 2018 and 2019. Therefore, the rising concern about security and data privacy negatively impacted the market growth. The companies in the 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. The countries covered in the cellular M2M market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.