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The Cellular Machine-to-Machine (M2M) Module Market size is estimated to grow at a CAGR of 10.14% between 2022 and 2027. The market size is forecast to increase by USD 3,049.75 million. The growth of the market depends on several factors, including the use of M2M technology for remote patient monitoring, the Increasing demand for connected devices in the retail sector, and the advancement in cellular network technologies. Cellular M2M modules support cellular communication between IoT devices or M2M applications. They also refer to radio chips embedded in IoT solutions that enable communication over cellular networks. Cellular M2M modules are used in various applications, including home appliances, smart utilities, and healthcare devices.
This cellular m2m module market report extensively covers market segmentation by application (smart utilities, home appliances and consumer electronics, manufacturing, and others), technology (4G, 3G, 2G, and CDMA), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The use of M2M technology for remote patient monitoring is driving growth in the Cellular Machine-to-Machine (M2M) Module 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 Cellular Machine-to-Machine (M2M) Module Market. The global market for cellular M2M modules 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 Cellular Machine-to-Machine (M2M) Module 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 1,422.70 million in 2017 and continued to grow by 2021. 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 year 2020 witnessed a negative impact of COVID-19 on the cellular M2M module market in North America. However, the initiation of large-scale vaccination drives gained momentum in 2021 and beyond, and there was a noticeable recovery in the Cellular Machine-to-Machine (M2M) Module Market in North America. Vaccine deployment has fueled confidence, and investments in IoT infrastructure have been stimulated as economies recover. The increasing adoption of IoT in healthcare, with applications such as remote patient monitoring and telemedicine, will drive the demand for M2M modules during the forecast period. Such factors are expected to drive the growth of the cellular M2M module market in North America during the forecast period.
The Cellular M2M Module 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 cellular M2M module market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Cellular M2M Module Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.14% |
Market growth 2023-2027 |
USD 3,049.75 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.0 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 41% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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., 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., Vodafone Group Plc, and Lagercrantz Group AB |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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