Business

Business growth with current situation of Cellular M2M Market

The global cellular M2M market is predicted to be valued at $45,398.9 million by 2027, increasing from $10,351.9 million in 2019 at a CAGR of 20.5%.

Impact Analysis of COVID-19 on the Cellular M2M Market:

The coronavirus (Covid-19) outbreak has spiked digital transformation in several industries particularly in the healthcare sector. Companies operating in the healthcare sector are following advanced strategies such as IoT and M2M connectivity while trying to reach patients who are staying home. Furthermore, cellular M2M solutions play a key role in the architecture of connected healthcare solutions. Owing to the above-stated factors healthcare institutions are strategically teaming up with IoT service providers in order to provide better services to patients. For example, in April 2020, Myongji Hospital announced their collaboration with ITX-M2M, a notable player in security solutions, for the joint development of a telemedicine in order to implement decentralized healthcare aided by health bots and home healthcare. Such company initiatives throughout the COVID-19 pandemic had created lucrative impact on the global cellular M2M industry.

Global Cellular M2M Market Analysis:

In recent years, M2M communications has been enormously widening in emerging countries including China, India, and South Korea due to its cost-effectiveness. Moreover, significantly increasing need for data efficiency and reliability, combined with embedded telecommunications, has paved a way for the global cellular M2M market growth.

Also, key players operating in the market such as AT&T, Tata Communications, Verizon Communications Inc., and ORBCOMM are following effective strategies to provide advanced solutions worldwide. For instance, in October 2020, Tata Communications, one of the leading Indian telecommunications company and Micron Technology, Inc. key player in innovative memory solutions, announced that they are entering into a joint venture in order to make cellular-enabled connectivity solution available worldwide. This agreement will help in simplifying and accelerating large scale global deployment of IoT devices. With this technology, Tata has proposed a plan that can provide the service of ‘Tata Communications MOVE’, a global IoT solution, across 200 countries and territories. The connectivity solution will be powered by a new virtual SIM, which mainly provides a scalable and flexible substitute to conventional physical SIM cards. Such company developments may lead to register a significant growth during the analysis period.

Check out How COVID-19 impacts the Cellular M2M Market. Click here to Connect with Analyst @ https://www.researchdive.com/connect-to-analyst/5826

The connectivity services sub-segment of the global cellular M2M market is predicted have a rapid growth and is expected to surpass $14,093.8 million by 2027, with the rise from $3,117.7 million in 2019. M2M connectivity services are the best fit for requirement of the industries such as healthcare, transportation, hospitality, retail, oil and gas, and financial services since they help in automating the activities across industries via IoT. Moreover, these services are best for solutions that require less internet data per month. These factors may lead to accelerate the sub-segment growth, during the forecast period. The managed services sub-segment of the global cellular M2M industry shall have a significant share and is anticipated to cross $16,148.8 million by 2027, with a rise from $3,816.3 million in 2019. M2M managed services make it easy to manage and control  IoT deployment. These services mainly help in organizing devices like smartphones and desktops, monitoring and troubleshooting device functionality, and sending firmware updates over-the-air (OTA).

Asia-Pacific cellular M2M industry registered a revenue of $3,538.3 million in 2019, and it is expected to surpass $15,744.3 million by 2027. Major adoption of 4G/5G network coupled with implementation of effective strategies by key players may create positive opportunities for the market, during the forecast period. For example, in February 2019, Arm Limited, a British semiconductor and software design company, entered into official partnership with China Unicom (Hong Kong) Limited., a notable player in telecommunication industry, in order to provide IoT simplicity, scalability, and security to Chinese businesses and global enterprises seeking to have a presence in China. Also, in October 2020, Renesas Electronics Corporation., a Japanese advanced semiconductor manufacturer and SEQUANS., a significant provider of IoT modules, announced their strategic collaboration in order to develop IoT based Sequans’ Monarch LTE-M/NB-IoT solutions. Further, the IoT modules are developed to serve IoT enterprises with an integrated connectivity platform that play crucial role in several applications, including smart home, industrial IoT (IIoT), and smart city.

North America region for cellular M2M market generated a revenue of $2,405.8 million in 2019, and it is expected to reach up to $10,959.3 million by 2027. North American Countries particularly the U.S. and Canada are extensively responsive to the upgradation of the recent technological advancements to gain optimization of business resources. Moreover, key players operating the North America region are following business expansion strategies to strengthen their presence into international market. For example, in June 2019, NimbeLink, one of the leading developers of cellular-based IoT solutions, entered into partnership with NOVOTECH TECHNOLOGIES., Canada based leading distributor of M2M and IoT hardware, in order to extend its distribution network nationwide. As per this collaboration, NimbeLink is focusing on providing cellular connectivity solutions and services that enable enterprises to rapidly get their IoT products to market and publicize the full value of M2M technology. Such company initiatives may further drive the demand for cellular M2M industry, during the forecast period.

Key Player

  • AT&T
  • Infineon Technologies AG
  • Verizon Communications Inc.
  • Telefónica S.A.
  • Cubic Telecom Ltd.
  • T-Mobile USA, Inc.
  • ORBCOMM
  • 1oTOÜ
  • KPN
  • Telefonaktiebolaget LM Ericsson..

Porter’s Five Forces Analysis for Cellular M2M Market:

  • Bargaining Power of Suppliers: Innovative and smart cellular M2M platforms launched by new suppliers will tremendously lessen the bargaining power of the traditional suppliers. Furthermore, these suppliers will provide less value if compared with the connected and smart constituents. Hence, the bargaining power of the supplier is LOW.
  • Bargaining Power of Buyer: The global market for cellular M2M market is fragmented. Therefore, there is remarkable product differentiation found in the cellular M2M solutions. Hence, the negotiating/bargaining power of the buyer is LOW.
  • Threat of New Entrants: New entrants are mainly opting for various effective strategies such as collaborations, technological advancements to strengthen their presence in the globe. However, fixed high cost of advanced products is one of the major restraints for new companies. Hence, the threat of the new entrants is Moderate.
  • Threat of Substitutes: There is no substitute product/service for the cellular M2M solutions. Thus, the threat of substitutes is Low.
  • Competitive Rivalry in the Market: Strong presence of technology players such as Verizon Communications Inc., Telefónica S.A., and Cubic Telecom Ltd., is creating huge rivalry in the global market. Elements such as significant business expansion combined with high investments on research are creating extreme rivalry among the market.
    Competitive rivalry in the market is High

Reference: https://www.researchdive.com/press-release/cellular-m2m-market.html

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