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Global M2M Services Market Forecast to Grow at 24.27% CAGR

Mar 2 2015

Research and Markets has announced the addition of the "Global M2M Services Market 2015-2019" report to their offering.

The analysts forecast the Global M2M Services market to grow at a CAGR of 24.27% over the period 2015-2019.

M2M is a technology that enables communication through wired and wireless technology. The exchange of information takes place between machines and devices or sensors. Most of the wireless M2M applications It is used in various industries such as healthcare, automotive, oil and gas, transportation, public safety, and retail for smooth functioning of operations, enhancing productivity, and reducing cost. It is widely used in connected health, connected car, smart metering, fleet tracking, intelligent buildings, and POS terminals. It is used to monitor condition of patient in real-time, manage machines from a remote location, and can easily identify critical situations.

Increased use of M2M in supply chain management is one of the key trends emerging in this market. M2M services allow companies to improve their existing supply chain processes by enabling the remote monitoring of vehicles. These services also enable the provision of real-time updates about cargo shipments. They help reduce the costs to companies and enhance data security.

According to the report, increased use of M2M services in automotive industry is one of the major drivers of this market. Demand for connected car M2M applications has increased significantly in the automotive industry. Increased numbers of people are subscribing for safety and security-related services. Stolen car trackers also figure among the frequently used applications in the automotive industry.

Further, the report states that lack of standardization is hampering the market growth. Standardization will facilitate better pairing and compatibility among devices after the authentication of credentials. The M2M value chain comprises manufacturers, connectivity providers, application service providers, service providers, sellers, and re-sellers. Everyone in this value chain follows their own standards and protocols, which leads to incompatibility among devices manufactured by different manufacturers.

Scope

On the basis of technology the Global M2M Services market can be classified into three major segments: Cellular, Fixed, and Satellite.
On the basis of Vertical the market is segmented into six major categories: Consumer Electronics, Automotive, Healthcare, Energy and Utilities, Transport and Logistics, Manufacturing, and Others.
The others segment includes verticals such as Consumer Goods, Financial Services, Public Services, Security, and Retail.

Key Vendors