M2M refers to machine to machine communication between any devices, including wired as well as wireless. It can include industrial instrumentation with a sensor to communicate with the application software about the recorded data, viz temperature, inventory level, no. of units, etc.
Therefore, recent M2M communication has turned into a system of networks that transmits data into personal appliances. Proliferation of IP networks around the globe has enhanced M2M communications.
The global scenario for machine to machine communications is widening in emerging countries. Growing need for data reliability and efficiency, embedded telecommunications have paved a way for growth in the global market. Moreover, the decreasing cost of connectivity has also enabled the vendors to adopt an inclined approach towards wireless communications for its benefits. With cost-effective connectivity, the M2M devices are utilized widely across various verticals especially in insurance and automotive sectors. Even small scale enterprises are now adopting M2M value-added services to ensure vehicle safety and security of vehicles and drivers.
As fleet management market helps in tracking and monitoring details about driver, material location, and other important details about vehicles, it is another value-added segment that will boost the M2M value-added services. Technologically, it uses GPS for tracking and monitoring purposes in real-time. The marine sector is largely benefitted by GPS and GIS technology too. GIS helps in enabling secured transportation of freight and cargo. Enabling GPS technology in modes of transport to spot geographic locations in real-time minimizes the costs and damages too.
With all the crucial factors mentioned above, the global cellular M2M market is projected to reach at a higher CAGR for the forecast period.
Cellular machine to machine market witnesses a wide range of applications in verticals such as automotive, healthcare, retail, transport and logistics, manufacturing, energy and utilities, and consumer electronics.
On the basis of geography, the global machine to machine cellular market is segmented into North America, Europe, Middle-east, Africa, and Asia Pacific. North America is forecasted to grow as a favorable market for M2M technology. Asia-Pacific and other regions are in emerging stages for this market. The emerging markets are forecasted to witness a greater scope for M2M cellular devices for the forecasted period. Moreover, a huge ROI is expected in cellular M2M value-added services in the emerging markets owing to good chances of augmented performance in M2M value-added services.
The key players in the cellular machine to machine value Added Services market include AT&T Inc., Verizon Communication, China Mobile Ltd, Vodafone Group PLC, Amdocs, Aeris Communications, Deutsche Telekom AG, Sprint Corporation, Sierra Wireless, and Telefonica.
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In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.