NEW YORK, Oct. 20, 2023 /PRNewswire/ — The US – Cellular M2M Connections Market size to increase by USD 5.40 billion, accelerating at a CAGR of 19.03% during the forecast period, according to Technavio’s market analysis. The growth of the US cellular M2M connections market is significantly driven by the rising demand for connected devices. This demand is primarily fueled by several factors, including the widespread adoption of IoT solutions across different industries, the implementation of Industry 4.0 practices, the development of smart homes and buildings, and the utilization of connected devices in healthcare applications. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy full report here
- One of the primary obstacles impeding the growth of the US cellular M2M connections market is the issue of inadequate network coverage. Network coverage represents a major challenge for this market. M2M technology, which enables data transmission between devices for remote monitoring, control, and communication, heavily relies on extensive and reliable cellular access. However, numerous remote areas in the US suffer from limited or restricted cellular network coverage. This limitation significantly hampers M2M applications that necessitate connectivity in remote regions, such as the agriculture, forestry, and oil and gas industries. Consequently, these factors have a detrimental impact on the US cellular machine-to-machine (M2M) connections market. Therefore, it is anticipated that this issue will hinder the growth of the US cellular M2M connections market during the forecast period.
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The cellular M2M connections market is segmented by Service (Connectivity services, Professional services, and Managed services), End-user (Large enterprises and SMEs), Connectivity (Wireless and Wired), and Geography (North America).
- The connectivity services segment is projected to experience notable expansion in the market’s share growth during the forecast period. Reliable and secure cellular connectivity plays a significant role in enabling effective M2M communication. Key factors driving the growth of this segment encompass the escalating adoption of Internet of Things (IoT) technology, a surge in the demand for connected devices, and the deployment of 5G networks.
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US – Cellular M2M Connections Market 2023 – 2027: Key Companies
- Aeris Communications Inc.
- Arm Ltd.
- AT and T Inc.
- Cisco Systems Inc.
- Cubic Telecom Ltd.
- Deutsche Telekom AG
- Huawei Technologies Co. Ltd.
- Intel Corp.
- KORE Group Holdings Inc.
- Orange SA
- ORBCOMM Inc.
- Semtech Corp.
- Telefonaktiebolaget LM Ericsson
- Telefonica SA
- Telit
- Texas Instruments Inc.
- Thales Group
- Verizon Communications Inc.
- Vodafone Group Plc
- UNICOM Global
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Cellular M2M Connections Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 19.03% |
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Market growth 2023-2027 |
USD 5.40 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
17.74 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aeris Communications Inc., Arm Ltd., AT and T Inc., Cisco Systems Inc., Cubic Telecom Ltd., Deutsche Telekom AG, Huawei Technologies Co. Ltd., Intel Corp., KORE Group Holdings Inc., Orange SA, ORBCOMM Inc., Semtech Corp., Telefonaktiebolaget LM Ericsson, Telefonica SA, Telit, Texas Instruments Inc., Thales Group, Verizon Communications Inc., Vodafone Group Plc, and UNICOM Global |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
TOC:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Sizes
- Five Forces Analysis
- Market Segmentation by Service
- Market Segmentation by End-User
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, & Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
