According to the latest market research study by Technavio, the global machine-to-machine services market is expected to grow at a CAGR of close to 29% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global M2M services market in terms of revenue and emerging market trends. The report also includes a competitive vendor analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the vertical
The top three revenue contributing vertical segments are discussed below
Consumer electronics: The consumer electronics industry is anticipated to grow rapidly during the forecast period. The increased use of M2M technology in smart consumer electronic gadgets such as cameras, gaming consoles, health monitors, etc. has made these devices more affordable for consumers.
“The segment is growing with the increase in adoption of cellular broadband networks in households and smart connected devices among consumers. Consumer devices such as TVs, refrigerators, microwave ovens, security cameras, and dishwashers can be connected to each other via M2M connectivity and wireless networks,” says Abhishek Sharma, a lead analyst at Technavio for research on machine to machine and connected devices.
Automotive: M2M services are mainly used for the remote monitoring of cars and theft recovery in the automotive industry. The deployment of 4G LTE technologies in the automotive sector is among the major reasons for the increased adoption of M2M systems. Moreover, the automotive sector is experiencing a growing trend wherein smart cars, and transport systems are applying M2M systems to enhance safety and functionality.
Healthcare: In the healthcare sector, M2M services provides various facilities such as medication reminders, remote diagnostics, and telemedicine services. Besides, M2M solutions speed up emergency communication in critical situations. Mobile operators are launching sustainable business models in mHealth to collaborate with governments and other regulatory stakeholders to gain traction in the market.
The top vendors operating in the global M2M services market are:
The other prominent vendors in the market include Aeris Communications, Amdocs, Applied Satellite Technology, China Mobile, Comarch, Digi International, Ericsson, Gemalto, Huawei, Hughes Network System (EchoStar), Jasper Technologies, KORE Wireless Group, Novatel Wireless, Nupoint Systems, Oracle, Orange Business Services, PTC, Quake Global, Rogers Communications, Sierra Wireless, Tech Mahindra, Telefonica, TeliaSonera, Telit, u-blox, and Wipro.
A more detailed analysis is available in the Technavio market research report titled, ‘Global M2M Services Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Satellite M2M Connections and Services Market 2016-2020
- Global M2M Services Market in the Retail Industry 2016-2020
- Global Mobile M2M Module Market 2016-2020
To read more press releases – click here