Cellular M2M Market to See 29% CAGR to 2020, according IDATE Consulting & Research Study Published at MarketPublishers.com
19 Dec 2016 • by Natalie Aster
LONDON – The cellular machine to machine (M2M) market comprises custom-made applications like remote vehicle diagnostics, video monitoring, asset tracking, fleet management, point-of-sale (POS) systems and theft recovery to deliver business efficiency to versatile enterprises. Cellular M2M value added services (VAS) is being incorporated in a host of enterprises to guarantee operational effectiveness and to minimise losses pertaining to operational breaches.
With the advances in the embedded telematics segment, the cost of wireless connectivity has dropped down, which has done good to heavy equipment makers, fleet owners, and cellular-based M2M VAS applications providers. The decreasing cost of networking has also enabled the emerging vendors to avail of the benefits of wireless M2M solutions and construct embedded connectivity modules. With the declining cost of networking, the take-up of cellular M2M VAS applications is on the rise across a vast spectrum of commercial industry sectors particularly in the automotive and insurance sector.
The cellular M2M market keeps on witnessing steady expansion. As of 2015, the number of active cellular M2M modules (all technologies included) stood at 283 million units. The size of the cellular M2M market is projected to expand from USD 3.22 billion as of 2015 to amount to USD 11.50 billion by 2020-end, registering a 29% CAGR.
New report “Cellular M2M Markets: Consistent Growth Driven Mainly by Automotive and Utilities” by IDATE Consulting & Research offers an all-round analysis of the uppermost trends and changes occurring within the worldwide M2M marketplace. The research study canvasses the factors driving the market’s growth and radical change, enclosing an all-round investigation of key market trends, alongside value and volume forecasts through to 2020 by region and country. The study also casts light on the quantitative development of cellular modules, based on application and networking technology.
More insightful reports by IDATE Consulting & Research are available in this catalogue.