The Global Market for Cellular Machine-to-Machine (M2M) Modules is Forecast to Reach US$6.4 Billion by 2024
The Rise of the Smart Connected World & the
Emergence of LTE as a Low Cost Connectivity Technology to Drive Opportunities
for Growth of Cellular Machine-to-Machine (M2M) Modules, According to a New
Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of
industry segments, trends, growth drivers, market share, size and demand
forecasts on the global Cellular M2M Modules market. The global market for Cellular Machine-to-Machine
(M2M) Modules is forecast to reach US$6.4 billion by 2024, driven by the profound transformation of the world
into a smart, intelligent and connected environment and the rise of LTE as a key
technology to power connectivity needs of interconnected machines.
The modern world is increasingly a
connected world with the future of all successful communities and businesses
implicitly linked to this very basic technology concept. Connectivity is today
all inclusive and involves bringing together people, technology, operations,
processes and even machines. There is new value in connecting physical assets
and devices by providing machines with embedded intelligence and sensing
capabilities. In the commercial sector, connected enterprises are growing in
popularity for their ability to provide converged digital experiences to modern
borderless customers and connect all levels of enterprise functions to help
realize operational intelligence and productivity benefits via seamless
delivery of knowledge across the enterprise. Right from connecting
manufacturing information, supply chain information and customer information,
connected technologies enable efficient communication, collaboration and faster
and rapid decision making. At the enterprise level, M2M represents a basic
connectivity technology which involves connecting and monitoring machines to
ensure that physical assets are well aligned to support business goals. In the
consumer sector, connected homes and smart homes are emerging as major
end-users of connectivity technologies, while in the public and the utility
sector, the migration to smart cities, smart buildings and smart
lighting/energy will bring new opportunities for growth and proliferation.
A predecessor and forerunner technology
to Internet of Things (IoT) and currently a core part of IoT implementations,
Machine-to-Machine Communication (M2M) represents a revolutionary technology
concept that continues to spew significant commercial possibilities and
opportunities. Cellular M2M solutions are largely limited to “point-to-point”
communication applications achieved through embedded hardware architecture.
Most solutions offer limited integration options thus relegating the technology
to “brownfield” industrial and commercial communication systems. Nevertheless,
there exists robust business opportunities for these solutions as they represent
a platform to bring data and devices into the connected ecosystem. Although the
hype surrounding IoT dwarfs other technologies in its league, the inherent
challenges of IoT will continue to spur business use case scenarios for
cellular M2M. These challenges include integration challenges, storage issues
posed by the vast volume of sensor data, implementation skill shortages, need
for purpose- built applications and systems, and all-consuming confusion and
lack of clarity and perspectives. Also, limited project budgets, strict project
governance and the need to solve project-related task problems will continue to
drive adoption of cellular M2M as the first step towards an IoT future. Several industry and vertical markets are
projected to adopt cellular M2M solutions as a simple and cost-effective way to
intelligently communicate in a connected world.
As stated by the new market research
report on Cellular Machine-to-Machine (M2M) Modules, Europe represents the largest market worldwide. Asia-Pacific
ranks as the fastest growing market with a CAGR of 18.4% over the analysis period
led by the presence of a varied, diverse and strong economic base capable of
creating demand for M2M solutions. Other major factors driving growth in the
region include development of M2M service platforms; robust appetite for
technologies with the ability to disrupt industrial and manufacturing productivity;
strong development of telecom infrastructure including 4G/LTE and growing
interest in pre-standards 5G; and tendency of developing countries to leap frog
conventional technologies to bleeding edge of telecom technologies as compared to
their developed counterparts.
Major players in the market include Gemalto
N.V., Huawei Technologies Co. Ltd., Kyocera Corporation, Neoway Technology Co.
Ltd., Novatel Wireless Inc., Sierra Wireless Inc., SIMCom Wireless Solution Co.
Ltd., Telit Communications PLC, u-blox and ZTE Corporation, among others.
The research report titled
“Cellular Machine-to-Machine (M2M) Modules: A Global Strategic
Business Report” announced by Global
Industry Analysts Inc., provides a comprehensive
review of market trends, issues, drivers, mergers, acquisitions and other
strategic industry activities of global companies. The report provides market estimates and
projections for all major geographic markets such as the USA, Canada, Japan,
Europe, Asia-Pacific, Latin America and Rest of World. The global and regional
markets are further analyzed by application types: Fleet Management, Remote
Monitoring & Control, Security, Electronic Payment Systems, Automotive, and
Others.
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