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The Cellular Machine-to-Machine Module Market size is estimated to grow by USD 3.35 billion at a CAGR of 10.22% between 2023 and 2028. M2M (Machine-to-Machine) technology plays a pivotal role in revolutionizing various industries, particularly in healthcare and retail sectors. In healthcare, M2M technology enables remote patient monitoring, allowing healthcare providers to monitor patients' vital signs and health data in real-time, ensuring timely interventions and improved patient outcomes. The retail sector is witnessing an increasing demand for connected devices, such as smart shelves and beacons, which utilize M2M technology to optimize inventory management, enhance customer experience, and facilitate seamless transactions. Furthermore, advancements in cellular network technologies, including 5G, are expected to accelerate the adoption of M2M applications, offering faster data transfer rates, lower latency, and increased reliability. These developments underscore the transformative potential of M2M technology in creating new business models, enhancing operational efficiencies, and delivering innovative services in diverse industries.
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The market is rapidly expanding due to several key factors, including the rise of Machine to machine connections and the increasing adoption of connected cars. Wireless technologies such as NB-IoT and LTE-M are driving advancements in healthcare equipment and autonomous networks. The shift towards a remote working culture, On-site personnel, and self-isolation policies has accelerated the need for reliable wireless sensor node systems and connectivity services. Global mobile devices and the growing mobile subscriber base contribute to this surge, as does the rise in e-commerce and mobile internet users. Massive data technology and M2M transaction are central to this growth, influenced by state policies and Porter’s five forces analysis. These developments ensure enhanced service delivery and operational efficiency across various sectors.
The use of M2M technology for remote patient monitoring is driving growth in the market. One of the main end users of cellular M2M modules is the healthcare sector. The aging population, high life expectancy, and increase in the number of individuals with chronic disorders are increasing the scope of the global Cellular Machine-to-Machine Module Market. In order to monitor individuals with specific medical conditions such as apnea, cardiac arrest, and diabetes, cellular M2M communications allow data transmission.
Moreover, cellular M2M patient monitoring devices need to be embedded with M2M modules or should be connected to an external M2M modem. Experts are able to communicate with patients from anywhere in the world thanks to M2M healthcare applications. M2M technology provides remote patient monitoring solutions for providing diagnosis accuracy, ensuring tracking, and monitoring patients. It is expected to drive the growth of the global cellular M2M module market during the forecast period.
The growing number of smart cities is a key trend in the market. The global market is becoming increasingly dominated by the growth of smart cities. As urbanization continues to accelerate worldwide, cities are exploring advanced technologies to enhance their infrastructure and services. To optimize the operation and efficiency of essential services, for example, such as transport, energy, safety, waste management, or healthcare, smart cities are using Internet of Things technology.
Moreover, cellular connectivity ensures reliable communication, even in areas with limited wired infrastructure or during natural disasters. As a result of several factors, the global Cellular Machine-to-Machine Module Market is experiencing significant growth in smart cities. The increasing penetration of smartphones and other connected devices, along with advancements in wireless communication technology, is driving the demand for M2M modules. Such a factor is expected to drive the growth of the global cellular M2M module market during the forecast period.
The growing privacy and security concerns are a major challenge in the Market. For the global market for cellular M2M modules, increasing security and privacy concerns have emerged as a major challenge. As the IoT expands and more devices become interconnected, ensuring the security and privacy of data transmitted through cellular M2M modules has become a top priority for businesses and consumers alike.
However, privacy concerns have increased alongside the proliferation of M2M modules. With a plethora of data being collected and transmitted, questions arise about who has access to this information and how it is being used. As consumers become more aware of possible misuse of their data, they are increasingly demanding greater transparency and stricter legislation on privacy protection. Such a factor is expected to hinder the growth of the global cellular M2M module market during the forecast period.
The market share growth by the smart utilities segment will be significant during the forecast period. The smart utilities segment includes smart meters, smart grids, and smart building infrastructure. Smart grids are electrical grids that are equipped with computer intelligence and network capabilities. Smart meters and renewable energy are part of this.
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The smart utilities segment showed a gradual increase in the market share of USD 1.51 billion in 2018. The alarming rate of increase in burglaries is compelling individuals to move toward safety options. Thus, smart safety solutions are being demanded by a number of individuals. This compels alarm system manufacturers to integrate M2M modules within products. Such need for smart utilities is expected to drive the growth of the smart utilities segment of the global cellular M2M module market during the forecast period.
The 4G segment of the global cellular M2M module market is experiencing significant growth and innovation. With the advent of 4G technology, the global cellular M2M module market has witnessed a surge in demand for faster and more reliable connectivity for M2M communication. Increasing adoption of IoT devices in different sectors, such as healthcare and retail, is a major driver for this growth. IoT devices, which are heavily reliant on cellular connectivity, require high-speed and extensive coverage for efficient data transfer and communication. The fourth-generation cellular network provides improved bandwidth capacity, reduced latency, and increased network stability compared to previous generations. Low-power, wide-area network technologies enable efficient and cost-effective communication for IoT devices, making them more accessible to a broader range of applications and industries. Such factors are expected to drive the growth of the 4G segment of the global cellular M2M module market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The cellular M2M module market in North America is experiencing rapid growth due to the increasing demand for connected devices and the proliferation of the IoT ecosystem. The Cellular Machine-to-Machine Module market in North America is characterized by the deployment of cellular modules in various industries, such as automotive, healthcare, retail, and utilities.
Moreover, automotive manufacturers are integrating cellular modules into their vehicles to enable features such as remote diagnostics, vehicle tracking, and emergency assistance. With regard to market trends, North America is a desirable region for cellular M2M module suppliers owing to its sophisticated telecoms infrastructure and large number of players in the sector. Key market players are continuously investing in research and development to offer innovative solutions and stay competitive. Such factors are expected to drive the growth of the cellular M2M module market in North America during the forecast period.
The Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cellular M2M Module Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aeris Communications Inc. - The company offers cellular M2M Modules such as Aeris Intelligent IoT network that provide adaptive connectivity with personalized prescriptive recommendations and automation capabilities.
AT and T Inc. - The company offers cellular M2M modules on LTE, HSPA+, HSDPA, UMTS, EDGE, GPRS, GSM, LTE Cat-M1, and LTE NB IoT technologies.
Deutsche Telekom AG - "The company offers cellular M2M modules such as NB IoT and LTE M chips concentrate on wireless functionality for specific applications and have energy saving capabilities like standby mode, long periodic tracking area updates, and extended discontinuous reception, which ensure optimal energy efficiency. "
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Cellular IoT Market: Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Germany, UK, Japan - Size and Forecast
5G Internet Of Things (IoT) Market: Analysis APAC, North America, Europe, Middle East and Africa, South America - South Korea, China, Spain, UK, US - Size and Forecast
LTE IoT Market: Research Report, Size, Growth, Trends, Opportunity Analysis, Industry Forecast
The market is thriving due to advancements in IoT infrastructure and its application across various sectors. Telecom service providers are crucial in enabling cellular M2M connections for diverse uses like autonomous driving and driver assistance systems. Major technology giants such as Google, Daimler, Volkswagen, Audi, Tesla, and Volvo are driving innovation in self-driving cars and specialized solutions.
Furthermore, this growth extends to public buildings, water management, and energy consumption, facilitated by distribution automation applications and IoT solutions providers. Telehealth/telemedicine advancements, including wearable devices for tracking sleep patterns and physical activity, are also noteworthy. Companies like AMC Health, GE Healthcare, and Intel Corporation contribute to these developments, alongside NXP Semiconductors and China Telecom. Emerging technologies such as Wi-Fi 6 and SimpleLink family integrated circuits (ICs) support the global cellular M2M market. With regulatory support from the Government of India and growing infrastructure in Southeast Asia and Australia, the sector's expansion is robust, impacting asset monitoring solutions, vending machinery, and transportation and logistics.
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Market Scope |
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Report Coverage |
Details |
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Page number |
183 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.22% |
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Market growth 2024-2028 |
USD 3.35 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.36 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 41% |
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Key countries |
US, Germany, China, Japan, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aeris Communications Inc., AT and T Inc., Deutsche Telekom AG, Fibocom Wireless Inc., Huawei Technologies Co. Ltd., Infineon Technologies AG, InnoComm Mobile Technology Corp, KORE Group Holdings Inc., Lagercrantz Group AB, Multi Tech Systems Inc., Novotech Technologies Inc., Orange SA, Quectel Wireless Solutions Co. Ltd., Sierra Wireless Inc., Sunsea AIoT Technology Co. Ltd., Telit, Thales Group, u blox AG, Verizon Communications Inc., and Vodafone Group Plc |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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