The global cellular M2M connections and services market size is set to expand at a CAGR of 20.4% in the assessment period 2023 to 2033. It is likely to reach a valuation of USD 20.9 billion by 2023.
The cellular M2M connections and services market is expected to top a valuation of about USD 134 billion by 2033. It is anticipated to develop a concrete monetary potential of USD 113.1 billion from 2023 to 2033.
| Attributes | Key Insights |
|---|---|
| Cellular M2M Connections and Services Market Estimated Size (2023E) | USD 20.9 billion |
| Cellular M2M Connections and Services Market Projected Valuation (2033F) | USD 134 billion |
| Value-based Cellular M2M Connections and Services Market CAGR (2023 to 2033) | 20.4% |
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North America to Propel Demand Amid Increasing Clinical Trials
In North America, countries like Canada and the United States are anticipated to drive the cellular M2M connections and services market through 2033. Ongoing expansion of remote patient monitoring and telemedicine in these countries is expected to push demand. These new services often use real-time data and pass on the same between healthcare professionals & medical devices, which would require M2M connections.
A handful of health insurance firms across North America might also use cellular M2M connections and services to track the health & wellness of policyholders. The data obtained can be utilized to deliver customized incentives and insurance plans for achieving healthy lifestyles.
North America is a key hub for medical research and clinical trials. Need for cellular M2M connections and services might rise as these would be needed to transmit and collect information from participants. These services can help researchers evaluate patient health and drug effectiveness remotely.
As per Antidote, a clinical trial patient engagement and recruitment firm, the United States spends about USD 7 billion as part of pharmaceutical research funding in clinical trials. The expected cost of patient recruiting is USD 1.89 billion, or 40% of the expenditure.
Asia Pacific to Witness High Demand as Elderly Care Gains Prominence
Increasing acceptance of wearable technology for health monitoring is likely to propel demand in Asia Pacific. Launch of novel smartwatches and fitness trackers that can collect data such as sleep patterns, activity levels, and heart rate is rising.
Growing demand for smartwatches in China, India, and Japan is projected to augment the need for cellular M2M connections and services. These help transfer real-time data to mobile applications and healthcare professionals. With cellular M2M connections, healthcare providers might develop personalized treatment options and facilitate remote patient monitoring.
Demand for elderly care systems is anticipated to rise in Asia Pacific as the senior population surges. GPS-enabled watches and wearable fall detection devices are estimated to be utilized for tracking the location and health of aging patients. Wearable device manufacturers use cellular M2M connections to send location data and alerts to emergency responders or caregivers.
In August 2023, for instance, Tata Consultancy Services (TCS) and Sree Narayana Mission (SNM), Singapore, established a Seniors Lab to help elders confidently age. It is a trial digital initiative for integrated senior care. By developing innovative care delivery methods, Seniors Lab aims to improve the well-being and inclusion of Singapore's aging population.
The initiative uses Internet of Things (IoT) technology to build a unified healthcare delivery network to reduce the expense of care delivery. It also helps seniors in SNM lead safer, more pleasant, and independent lives. It was created to solve issues with rising healthcare expenses. Such initiatives are expected to drive the Asia Pacific cellular M2M market.
The global cellular M2M connections and services market grew at a decent CAGR of 25.4% in the historical period from 2018 to 2022. It is expected to witness a CAGR of 20.4% in the estimated timeframe. The market for cellular M2M connections and services stood at USD 17.3 billion in 2022.
| Historical Cellular M2M Connections and Services Market CAGR (2018 to 2022) | 25.4% |
|---|---|
| Historical Cellular M2M Connections and Services Market Value (2022) | USD 17.3 billion |
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Between 2018 and 2022, the period exhibited a steady rise in demand for cellular M2M connections and services worldwide. The period witnessed the COVID-19 pandemic, which resulted in the temporary shutdown of clinics. It further led to the rapid adoption of telemedicine and telehealth services.
Demand for a secure and efficient means of connecting with patients rose among healthcare providers for virtual consultations. Hence, cellular M2M connections and services demand surged as these offered digital health record access, remote diagnostics, and video calls in real-time. This not only reduced in-person clinic visits but also allowed for continuous care.
The pandemic also disturbed supply chains worldwide, which resulted in a high demand for real-time supply chain tracking. Businesses started using cellular M2M connections and services to scrutinize the movement of crucial pharmaceuticals, vaccines, and medical supplies to ensure smooth distribution and delivery. This boosted the cellular M2M connections and services market.
From 2023 to 2028, the period is expected to showcase a high participation rate in sports and fitness activities globally. Fitness enthusiasts and athletes might depend on real-time feedback and coaching through their training sessions. Cellular M2M connections and services are set to rise in wearable devices to provide workout recommendations, develop analysis reports, and instant performance data.
The period is also likely to witness the emergence of several fitness platforms and smartphone applications that would encourage competition & interactions among users. Cellular M2M connections and services might help create a sense of motivation & community across these platforms. These are set to do so by allowing health-conscious users to engage in friendly challenges, share workout information, and connect with fellow users.
In June 2022, SM Entertainment and LG Electronics introduced a joint venture called Fitness Candy in South Korea. It would help both companies to enhance their presence in the home fitness segment. To assist consumers in addressing their physical wellness demands at home, LG and SM want to build an integrated wellness platform that includes content, services, and related items.
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Growing traffic control-related issues in developed and developing countries worldwide are projected to propel the market from 2028 to 2033. Several countries invest huge sums in developing smart cities to reduce congestion and refine traffic management. Ability of cellular M2M connections and services to improve urban mobility, lower traffic jams, and enhance traffic flow is expected to support adoption.
With smart city initiatives, countries might move toward dynamic toll collection methods. These might use cellular M2M connections in cameras and sensors to electronically collect tolls based on traffic conditions, date, time, and vehicle type. This method is anticipated to help improve user experience and lower traffic jams at toll booths.
Introduction of smart parking systems is another crucial factor that might accelerate the demand for cellular M2M connections and services. These are anticipated to provide cashless payment services for parking areas, inform drivers about available spots, and evaluate the availability of parking spaces.
Such features will likely refine the parking experience in urban areas, reduce traffic congestion, and lower the time spent searching for an ideal spot. The need for advanced parking management systems may propel the cellular M2M connections and services market.
The table below provides the latest cellular M2M connections and services market trends, growth obstacles, and upcoming opportunities. Trends for cellular IoT modules enable stakeholders to invest in the right area and gain profit.
| Attributes | Key Factors |
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| Latest Trends |
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The below table explains the worldwide demand for cellular M2M connections and services market of the top 5 countries. Regional forecast for cellular M2M connections and services market by country states that the United States is anticipated to remain at the forefront by topping a size of USD 22.6 billion by 2033.
China might reach USD 20.9 billion in 2033. Japan is expected to follow the United States and China to create a moderate cellular M2M market size worth USD 13.2 billion.
| Countries | Market Value (2033) |
|---|---|
| United States | USD 22.6 billion |
| United Kingdom | USD 4.3 billion |
| China | USD 20.9 billion |
| Japan | USD 13.2 billion |
| South Korea | USD 4.9 billion |
In the below table of the growth potential of the machine-to-machine (M2M) connections market, CAGRs of the top 5 countries are provided. Out of the 5, Japan and China are likely to remain in the leading positions in the cellular M2M value-added services (VAS) market by exhibiting CAGRs of 23.0% and 22.2%, respectively from 2023 to 2033.
Followed by these, the United Kingdom and the United States are expected to witness cellular M2M connections and services sales at CAGRs of 21.0% and 20.3%, respectively.
| Countries | Value-based CAGR (2023 to 2033) |
|---|---|
| United States | 20.3% |
| United Kingdom | 21.0% |
| China | 22.2% |
| Japan | 23.0% |
| South Korea | 19.6% |
The United States is projected to exhibit a CAGR of 20.3% in the forecast period. It is likely to establish a clear-cut revenue chance worth USD 19.1 billion by 2033 in the cellular M2M connections and services market.
The rising need for cold chain evaluation will likely boost the machine-to-machine connections market in the United States. Several vaccines, primarily those developed for chronic diseases, must be stored at a specific temperature across the supply chain. Integrating cellular M2M connections might make it easier to scrutinize environmental conditions and temperature in real-time during transportation & storage.
In case of deviations, these networks are projected to offer instant notifications, further reducing the risk of damage.
Inventory management is another important element that requires the intervention of cellular M2M connections. Smooth inventory management is considered critical for enhanced vaccine distribution. Novel M2M connections enable healthcare professionals to check usage patterns, expiration dates, and vaccine levels. This might initiate a constant supply of vaccines by triggering automated reorders when the inventory thresholds are complete.
The United Kingdom is expected to witness a CAGR of 21.0% in the review period. The country is projected to formulate a definite financial opening of USD 3.7 billion by 2033 in the cellular M2M connections and services market.
Increasing demand for smart home meters such as gas, water, and electricity in the United Kingdom is projected to drive the satellite M2M connections and services market. These meters provide remote control and monitoring capabilities and hence need constant connectivity. Cellular M2M connections are projected to help utility firms and homeowners adjust settings, check usage patterns, promote resources, and access consumption data.
Cellular M2M connections and services market in the United Kingdom might also surge due to the utility sector's requirement for efficient grid management. These connections are set to improve reliability on electrical grids, lower energy losses, and respond to power outages.
China is likely to reach a valuation of USD 20.9 billion by 2033 in the cellular M2M connections and services market. It is set to record a decent CAGR of 22.2% from 2023 to 2022.
Cellular M2M connections and services market in China is estimated to be accelerated by increasing demand for real-time passenger tracking in the public transportation sector.
Passengers traveling by trains, trams, and buses might gain access to real-time information regarding service updates and arrival/departure times via SMS, electronic displays, or mobile apps. Hence, China is expected to incorporate cellular M2M connections in its public transportation infrastructure to enhance the passenger experience.
The county might also use cellular M2M connections and services to promote contactless fare collection and smart ticketing systems. Individuals can utilize their smartphones, contactless cards, or mobile wallets to pay for their tickets. This might lower the need for cash or physical tickets, increasing convenience.
Japan registered an average CAGR of around 21.7% in the cellular M2M connections and services market from 2018 to 2022. It is projected to rise at a CAGR of 23.0% in the estimated time frame.
Cellular M2M connections and services market in Japan is expected to surge steadily amid growing use for tracking vehicles in real-time. Telemetry devices are set to be equipped with M2M connections to help vehicle owners, logistics firms, and fleet managers monitor the routes, speeds, and locations of vehicles. This will likely induce high security, enhancement of routes, and asset management.
Increasing cases of road accidents are projected to push the government of Japan to utilize cellular M2M connections in telemetry devices. These help assess drivers' behavior regarding cornering, braking, and acceleration. Such networks would improve road safety, lower fuel consumption, and refine driving skills.
South Korea is set to shape a distinct income-generating possibility of USD 4.1 billion by 2033. It is expected to witness a CAGR of 19.6% from 2023 to 2033 in the cellular M2M connections and services market.
Cellular M2M connections and services market in South Korea is projected to be augmented by the increasing development of automated teller machines (ATMs) in the country. Without manual intervention, these connections help financial institutions and banks track machine health, transaction history, and cash levels. These further improve the functioning of ATMs, maintain cash availability and lower downtime.
Cellular M2M connections and services might also help withdraw cash from ATMs during network issues or natural disasters. These will likely ensure proper access to banking systems and cash services during emergencies when other channels might be disturbed.
The table below highlights global demand for cellular M2M connections and services by organization size. Under organization size, the large enterprises segment, while smaller, is set to showcase a significant CAGR of 20.2% through 2033. It is expected to be followed by the SME segment.
| Category | Organization Size |
|---|---|
| Sub-category | Large Enterprises |
| Value-based CAGR (2023 to 2033) | 20.2% |
In terms of organization size, the large enterprises segment is likely to generate a considerable cellular M2M connections and services market share. It is set to showcase a CAGR of 20.2% in the assessment period. The segment exhibited a CAGR of 25.2% in the historical period.
Large enterprises often depend on data to enhance their functions and make quick decisions. Ability of cellular M2M connections to provide real-time data from equipment, machines, and sensors might push their adoption. These will likely help large enterprises with process optimization, predictive maintenance, and performance analysis.
Remote monitoring and automation are two crucial elements that large enterprises require to gain real-time insights into their processes and systems. Cellular M2M is expected to help manage their assets and control their systems remotely without manual tasks. Their ability to initiate automation is anticipated to reduce labor costs, lower downtime, and surge operational efficiency.
The historical and forecast CAGRs of the large enterprises segment show a dip of 5.0% between these two timelines. A saturation point might arise as large enterprises use M2M connections and services for several applications. This might lead to implementing beneficial and critical use cases, which can hamper demand.
The table below highlights global demand for cellular M2M connections and services by end-use. Under end-use, the transportation & logistics segment, while smaller, is set to showcase a significant CAGR of 20.0% through 2033. The energy & utilities, manufacturing, healthcare, and other segments are expected to follow it.
| Category | End-use |
|---|---|
| Sub-category | Transportation & Logistics |
| Value-based CAGR (2023 to 2033) | 20.0% |
Based on end-users, the transportation & logistics segment is anticipated to lead the cellular M2M connections and services market through 2033. It is expected to record a CAGR of 20.0% from 2023 to 2033. It expanded at an average CAGR of 25.1% between 2018 and 2022.
Real-time monitoring and tracking of shipments, containers, and vehicles is vital to the transportation & logistics sector. Cellular M2M connections and services will likely allow for accurate and continuous location tracking, offering a deeper insight into their operations. It is projected to improve customer service, route optimization, and asset management.
Cargo tampering and theft are a couple of security challenges that the transportation & logistics sector often tends to face. Cellular M2M connections and services such as surveillance cameras and door sensors may address these challenges by providing real-time information. Hence, companies are expected to protect their cargo from theft with these services.
New technologies such as 5G networks, however, might hinder cellular M2M connections and services demand in this sector. These technologies are projected to deliver unique and alternative options. These might be replaced with M2M connections amid high efficiency and cost-effectiveness.
Cellular M2M connections and services market players focus on enhancing and broadening their networks to reduce latency, refine reliability, and deliver widespread coverage. They also provide high bandwidth by introducing 5G networks, making them ideal for M2M connections.
Clients are expected to be highly concerned about security in terms of M2M applications. Hence, cellular M2M connections and services market participants are set to invest huge sums in developing superior security software solutions to protect devices and data. They are obtaining security certificates and offering authentication tools and encryption systems.
A handful of cellular M2M providers are joining hands with firms in the field of IoT, such as cloud service providers, software developers, and device producers. Such collaborations help them to provide device compatibility and end-to-end solutions.
For instance
| Attribute | Details |
|---|---|
| Estimated Cellular M2M Connections and Services Market Size (2023) | USD 20.9 billion |
| Projected Cellular M2M Connections and Services Market Valuation (2033) | USD 134 billion |
| Value-based Cellular M2M Connections and Services Market CAGR (2023 to 2033) | 20.4% |
| Historical Data Provided in Cellular M2M Connections and Services Market | 2018 to 2022 |
| Forecast Period Provided in Cellular M2M Connections and Services Market | 2023 to 2033 |
| Quantitative Units of Cellular M2M Connections and Services Market | Value (USD billion) |
| Segments Covered in Cellular M2M Connections and Services Market Study | Organization Size, End-User, Region |
| Regions Covered in Cellular M2M Connections and Services Market Report | North America; Latin America; East Asia; South Asia Pacific; Western Europe; Eastern Europe; Middle East & Africa |
| Key Countries Covered in Worldwide Cellular M2M Connections and Services Market | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan and Australia |
| Cellular M2M Connections and Services Market Top Players | AT&T, Inc.; China Telecom Corporation Ltd.; EE Limited; Sprint Corporation; Verizon Communications, Inc. |
The cellular M2M connections and services market might top USD 134 billion by 2033.
The cellular M2M connections and services market might witness a 20.4% CAGR from 2023 to 2033.
Transportation & logistics, manufacturing, and healthcare are the top 3 end-users.
The cellular M2M connections and services market might reach USD 20.9 billion by 2023.
Vehicle telemetry services, smart home meters, and wearable technologies are a handful of examples.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Organization Size 5.1. Large Enterprises 5.2. SMEs 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 6.1. Transportation & Logistics 6.2. Energy & Utilities 6.3. Manufacturing 6.4. Healthcare 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. AT&T, Inc. 17.2. China Telecom Corporation Ltd 17.3. EE Limited 17.4. Sprint Corporation 17.5. Verizon Communications, Inc. 17.6. Deutsche Telekom AG 17.7. Telefonica S.A. 17.8. Aeris 17.9. Cisco System Inc. 17.10. Huawei Technologies Co. Ltd. 18. Assumptions & Acronyms Used 19. Research Methodology
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Cellular M2M Connections and Services Market
