The Cellular M2M market size is projected to grow from USD 8.3 billion in 2020 to USD 21.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period. Cellular M2M provides the ability to connect multiple devices and applications to help businesses increase efficiency and productivity while reducing operating costs.
By services, the connectivity services segment to lead the market during the forecast period
The demand for connectivity services is increasing with the rise in complicated applications being deployed by customers. Services must ensure networks are secure, reliable, scalable, and offer coverage in remote areas. Hence, providing roaming services and SIMs with global coverage has become a pivotal function in creating end-to-end IoT solutions.
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By application, asset tracking and monitoring segment to lead the market during the forecast period
Asset tracking has been used to fix problems, such as theft and loss of valuable assets, inefficient processes, and poor operational performance. The M2M asset tracking application helps businesses efficiently track their assets to improve employee safety, drive process automation, and optimize their supply chain. The application is instrumental in maintaining the asset health as well as a vital means of troubleshooting in case of any emergency.
The key and emerging players include AT&T (US), Verizon (US), T-Mobile (US), Deutsche Telekom (Germany), Orange S.A. (France), Telefonica (Spain), Vodafone (UK), Ericsson (Sweden), Kore Wireless (US), Aeris (US), Arm holdings (UK), China Mobile (China), Infineon (Germany), Thales Group (France), Orbocomm (US), Telit (UK), Giesecke+Devrient (Germany), Cubic Telecom (Ireland), KPN (Netherlands), A1 Digital (Austria), SK Telecom (South Korea), Rogers Communications (Canada), Telenor Connexion (Sweden), Truphone (UK), and 1oT (Estonia). These players have adopted various strategies to grow in the global Cellular M2M market.
AT&T (US) is one of the leading vendors in the Cellular M2M market. The company offers various solutions consisting of platforms, network connectivity services, and global eSIM for enabling connectivity. The company offers robust networks for efficient industrial M2M connectivity, such as LTE-M and NB-IoT. These are aimed at providing connectivity to its customers for applications in various industries. The company focuses more on the adoption of inorganic growth strategies to enhance its position in the cellular M2M market. For instance, in November 2019, AT&T, along with Nokia, expanded its business by launching an IoT innovation studio in Germany to provide support to IoT in the region. Various industries can foster the studio and its offerings as a dedicated space that can demonstrate current developments and a future of connected solutions.
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Verizon (US) is another leading cellular M2M solution across the globe. The company offers Machine to Machine (M2M) data plans to make it simple for customers to connect devices across networks. The industries served by Verizon include retail and healthcare. The company offers various M2M solutions to its customers, which include connectivity modules, wireless M2M management centers, and wireless primary connectivity. The company focuses on inorganic growth strategies to improve its place in the cellular M2M market. For instance, in October 2020, Verizon extended the provision of its 5G network services at the innovation hub located at the University of Illinois Research Park. The provision of 5G network will enable innovators, to be able to create modern applications in all industries that leverage advanced technologies, such as robotics, analytics, ML, and IoT devices.
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