The Global Machine to Machine (M2M) Cellular Modules Market is expected to grow at a significant CAGR during the forecast period (2024-2031). Machine-to-machine communication refers to direct communication between devices through any communication medium, including wired and wireless. This system connects machines to mobile devices, mobile devices to mobile devices, and mobile devices to machines. Manufacturing, logistics, transportation, and healthcare are a few of the industries that utilize it extensively.
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Multiple applications of M2M cellular modules, such as video surveillance, asset monitoring, fleet management, and point-of-sale systems (POS), are driving demand for these modules, boosting the M2M cellular modules market. End-user adoption of M2M devices is increasing due to their cost-effectiveness and connectivity. Furthermore, the growing use of M2M value-added services to ensure vehicle safety and security is driving the M2M cellular modules market growth.
The value-added service of M2M cellular modules is being incorporated into various companies to assure operational efficiency and prevent losses, resulting in rising demand for M2M cellular modules. The demand for data dependability and efficiency, as well as integrated telecommunications, is driving the M2M cellular modules market growth. Furthermore, as the cost of connectivity has decreased, vendors have been encouraged to use wireless communications, which has driven the growth of the M2M cellular modules market.
Because of the adoption of government rules that permit a larger deployment of cellular M2M in major industries such as utilities, smart cities, automotive, and healthcare, the cellular-based (M2M) market is anticipated to grow over the forecast period. According to Cisco, global mobile device sales will increase from 8.6 billion in 2017 to 12.3 billion in 2022. This massive expansion will have a positive impact on the M2M market.
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Market Coverage
- Segment Covered-
o By Type
o By End-User
- Competitive Landscape: Gemalto N.V., Huawei Technologies Co., Ltd., Kyocera Corporation, Neoway Technology Co. Ltd., Novatel Wireless, Inc., and Sierra Wireless, Inc. among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Machine to Machine (M2M) Cellular Modules Market Report
By Type
- Managed Service
- Professional Service
By End-User
- Retail
- Banking & Financial Institution
- Telecom and IT Industry
- Healthcare
- Automotive
- Oil and Gas
- Transportation
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