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Global Cellular Machine-to-Machine (M2M) Modules Market to Reach $4.5 Billion by 2026

Cellular Machine-to-Machine (M2M) communication technology is a novel M2M communication model that allows wireless transmission of information between devices/machines over mobile networks. Over the years, continuous development of the telecom infrastructure has made cellular M2M connections more reliable, and affordable. Few of the several benefits of cellular M2M driving adoption rates include easy remote or mobile implementations, increased productivity, intelligent distribution of information where needed, real time, uninterrupted communication ability, 24/7 connectivity, and greater signal reliability and expanding bandwidth capacity in line with evolving fiber optic network and mobile network technologies. Technology developments including semiconductor innovation of M2M modules such as extended temperature capability for greater suitability for harsh environment applications; addition of geofencing and GPS capabilities, among others, are also helping fuel adoption rates. Higher data rates and lower monthly plan pricing for M2M applications, and bespoke offerings for various industry verticals, offered by cellular service providers will particularly emerge as the most influential driver of technology adoption and proliferation. Other major factors influencing growth include IPv6 standardization; explosion of connected devices; alliances between specialists in communication software and hardware, mobile operators and providers of analytics software for providing one-stop M2M solutions to end-users; decreasing cost of hardware and wireless bandwidth and increased availability of B2C and B2B applications.

Amid the COVID-19 crisis, the global market for Cellular Machine-to-Machine (M2M) Modules estimated at US$3 Billion in the year 2022, is projected to reach a revised size of US$4.5 Billion by 2026, growing at a CAGR of 8% over the analysis period. Fleet Management, one of the segments analyzed in the report, is projected to record a 8.3% CAGR and reach US$1.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Security segment is readjusted to a revised 7.4% CAGR for the next 7-year period. Fleet management integrates GPS with M2M cellular technology to offer efficient services. Fleet management solutions deliver a host of functions, including vehicle management, driver management, mobile workforce management and transport management. Advanced M2M modules can be used in buildings, retail outlets and banks for security purposes such as real-time monitoring, alarm system monitoring, video analytics and video surveillance.

The U.S. Market is Estimated at $689.1 Million in 2022, While China is Forecast to Reach $483.4 Million by 2026

The Cellular Machine-to-Machine (M2M) Modules market in the U.S. is estimated at US$689.1 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$483.4 Million by the year 2026 trailing a CAGR of 10.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 7.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.4% CAGR. Europe and North America remain key centers for growth of mobile-M2M modules. In the coming years, fastest growth is anticipated to come from Asia-Pacific due to the presence of a varied, diverse and strong economic base capable of creating demand for classified M2M solutions.

Remote Monitoring & Control Segment to Reach $964.7 Million by 2026

Cellular M2M is used in agricultural and industrial sectors to remotely supervise maintenance work, which in turn minimize labor work. Some of the primary uses of M2M in the healthcare sector include remote monitoring of senior patients; remote monitoring of a patient from home settings; remote consultation; sending vital parameters of patients from ambulance to hospital; and rural medical assistance such as e-ICU. In the global Remote Monitoring & Control segment, USA, Canada, Japan, China and Europe will drive the 7.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$471.6 Million will reach a projected size of US$789 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$137.5 Million by the year 2026, while Latin America will expand at a 8.5% CAGR through the analysis period.