Global M2M services market is likely to expand at a phenomenal CAGR of 27.2% between 2017 and 2025, for the market to attain a value of US$83,616.1 mn by the end of 2025 from US$9,695.1 mn in 2016.
With an extraordinary CAGR of 27.2%, the global M2M services market is likely to be valued the gigantic amount of US$ 83,616.1 Mn by the end of the projected period, i.e. 2025. The tremendous growth of the market can be clearly seen due to the huge disparity between the value of the market in 2016 and in 2025.
The worldwide market for M2M services was accounted only for US$ 9,695.1 Mn in 2016 which is likely to grow 10 times more in 2025 than in 2016. Keeping in view the demand of M2M services in the global market, Market Research Report Search Engine (MRRSE) has added this brand new publication, “M2M Services Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025,” in its database.
Global M2M Services Market- Drivers
The report has listed some of the factors which are fuelling the growth of the global market for M2M services. These drivers are as bellows
- Increasing partnership and collaboration among key players
- Efforts taken by the top leaders in this market to reach to the untapped economies
- Improved connection of internet and expanded networks in fiber optic cable
- Remarkable drop in the operational cost of M2M services which is booming the market
- Rising Research & Development activity to enhance advance communication technology, fuels the growth of the market
Global M2M Services Market- Segmental Forecast and Analysis
The worldwide market for M2M services are segmented into organization size, service type and industry verticals. The industry vertical segment includes a list of small segments such as automotive, retail, energy and mining, manufacturing, oil and gas, healthcare, transportation and logistics and others like hospitality and education.
Among all the segments, the segment of consumer electronics is likely to lead the market in revenue generation. While the segment of manufacturing is likely to expand at higher compound annual growth rate during projected period.
On the basis of organization size, the global market for M2M services is segmented into SMEs and large enterprises. In terms of revenue, the segment of large enterprises led the market in 2016.
But, SMEs segment is estimated to surpass this growth rate during the projected period of eight years. This growth is due to increasing use of IoT by small enterprises.
Service type segment is consists of connectivity and data storage services, managed services and professional services. Connectivity and data storage segment led the market in terms of revenue in 2016 and is likely to show remarkable growth in the CAGR in upcoming years.
Global M2M Services Market- Regional Forecast and Analysis
North America is leading the global M2M services market followed by Europe region. Being a home to many top enterprises that offers M2M services, North America dominates the market throughout the assessed period.
Around 76% of market share is expected to be captured by large enterprises in North America in 2025.
Global M2M Services Market- Key Companies
Deutsche Telekom AG, PTC, Ericsson AB, Sprint.com, aeris Communications Inc., Gemalto NV, EE Limited, Verizon Wireless, Oracle, and AT&T are some of the key companies that are operational in the global M2M services market.
Browse Full Global M2M Services Market Report with TOC : www.mrrse.com/m2m-services-market
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