London, 24 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the M2M Connections and services market in China 2015-2019, which is expected to grow at a CAGR of 23.76% during the forecast period of 2015-2019.
The Chinese M2M connections market is the world’s fastest as well as largest M2M market with more than 50 million connections in 2014, which is more than the US and Japan, and it is expected to increase rapidly during the forecast period. Major Chinese telecommunication operators such as China Telecom, China Unicom, and China Mobile are experiencing tremendous growth in various sectors such as healthcare, automotive, agriculture, retail, and consumer electronics.
“With the increase in popularity of satellite M2M devices for asset tracking, remote monitoring, and controlling, the demand for satellite M2M for event-based SCADA applications has increased rapidly,” says Faisal Ghaus, Vice President of Technavio.
“In remote areas, the availability of a cellular service is less or not available and satellite broadband is a costly solution for the application.”
Key Market Drivers
- High Adoption of M2M Communication among Individual Consumers and Enterprises
- Increase in Development of Smart Cities
- Government Investment in IoT Projects
- Increased Demand for Cellular M2M Modules among Enterprises
- Increased Use of M2M Services in Big Data Analytics
Key Market Trends
- Increased Use of Satellite M2M for Event-based SCADA Applications
- Adoption of M2M Cloud-based Platform
- Increased Focus on R&D
- Increased Use of M2M in Insurance Telematics
Key Market Vendors
- China Mobile Ltd.
- China Unicom (Hong Kong) Ltd.
- China Telecom Corp. Ltd.
- Huawei Technology Co. Ltd.
- ZTE Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
