Global M2M Wireless Network Services Market Size is Predicted to Register Health CAGR till 2025
11 September 2018
The Global M2M Wireless Network Services Market is expected to witness significant CAGR over the forecast period. These services provide uninterrupted communication among two or more machines. Upward trends such as Bring Your Own Device (BYOD) and Internet of Things (IoT) are anticipated to boost demand for these networks in near future.
Mobile network operators are looking for alternative means to earn more revenue. Global telecom industry is finding new revenue generation opportunities with the advent of digitization and a rising mobile subscription base. This is anticipated to positively influence adoption of these services in near future. New financial gain opportunities for mobile network operators are expected to fuel the global market in the forthcoming years.
A subscriber base of more than five billion makes telecom one of the largest industries. However, even the increasing client base has failed to increase revenue for telecom operators due to the presence of intense competition. Constant pressure of competitive price drops is expected to challenge growth of the global telecom industry over the forecast period. This factor is poised to play a crucial role in expansion of the market for machine to machine cellular networks.
Rapid growth of cloud computing is anticipated to drive demand over the forecast period. Also, increasing use of smartphones is expected to impel demand for cellular services. High penetration of smartphones across the world is anticipated to create growth opportunities for key market players during the forecast period. Availability of fast connection between end-to-end devices, coupled with higher broadband usage, is also expected to drive their adoption. Low cost of and power consumption by wireless services are anticipated to further fuel growth.
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Customers are gradually shifting from voice services to data services as a consequence of technological developments. Increasing M2M services have contributed to rise in data traffic. Both these factors are expected to boost market in near future. Presently, customers are ready to shell out higher prices to avail improved offerings suitable for their individual requirements. Existing telecom infrastructure and coverage are expected to drive adoption of value added data services over the next few years. Moreover, proliferation of government standards and regulations and increased number of value added services are expected to fuel industry demand over the forecast period.
Growth in digital content and requirement for digital content management are anticipated to boost revenue growth over the forecast period. Alliances across hardware and software specialists, analytics software, communication hardware, and mobile operators are expected to favor industry growth. Reducing cost of wireless bandwidth and hardware will drive industry growth over the forecast period. However, B2C and B2B applications are expected to drive cellular machine to machine market in near future.
M2M solutions require connectivity, maintenance, data hosting, software updates, and additional services running simultaneously to deliver complete solutions to end users. Therefore, maintaining coordination among all the members of M2M value chain is one of the key challenges for market growth. Absence of communication infrastructure may also hamper demand over the forecast period. However, rising adoption of mobile technology is expected to drive growth. Moreover, adoption of emerging next generation technologies is also expected to boost demand for wireless network solutions.
North America, Asia Pacific, Middle East and Africa, Europe, and Latin America are major regions in global market. North America is anticipated to witness the highest market growth in terms of revenue over the forecast period. It is also expected to observe maximum growth followed by Asia Pacific and Europe. Stern government regulations to protect environment are projected to drive regional growth. Many companies are adopting green technologies to reduce power consumption and wastage. Significant rise in adoption of M2M wireless networks in countries Japan, U.K., and U.S. is anticipated to further fuel market development over the forecast period.
Key players operating in the M2M wireless network services market include Verizon, China Mobile, Vodafone, and AT&T. Other prominent companies include T-Mobile, Telenor, China Telecom, KPN, Orange, Sprint, Deutsche Telekom AG, and Telefonica. The companies are making R&D investment to provide consistent speed, capacity, and reliability across different regional markets. Adoption of numerous innovative technologies such as antenna beam forming and carrier aggregation are projected to provide fillip to adoption.
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