Published On : 11 Oct 2018
In a somewhat fragmented global cellular M2M module market having several established vendors competition is stiff. In such a scenario players are seen upping the ante against their rivals by diversifying their product portfolio by launching more evolved versions. To that end they are seen expending considerable amounts on research and development. As a result, the global cellular M2M module market, which is still in its early stages and full of potential, is predicted to surge ahead at a phenomenal pace in the upcoming years.
Cellular M2M modules enable communication between IoT devices or M2M applications. Those also include radio chips outfitted in IoT solutions which bring about communication over cellular networks. Cellular M2M modules find usage in different areas such as home appliances, healthcare devices, consumer utilities, and smart utilities.
Healthcare Uses to Buoy Global Cellular M2M Modules Market
The healthcare applications are poised to spell maximum opportunity in the global cellular M2M modules market. This is because it can allow remote monitoring of patients with accurate transfer of data on different issues such as cardiac arrest, apnea, and diabetes. With a large pool of elderly, which is only set to grow further and rising instances of chronic diseases, the global cellular M2M modules market will only rise further.
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Smart City Initiatives Across Nations Benefitting Market
Another trend that is predicted to provide a major impetus to the global cellular M2M modules market is the thrust on building smart cities by governments across nations. Those entail leveraging modern technologies to improve urban infrastructure. The smart cities serve to improve the quality of lives by ensuring proper traffic movement, proper functioning of streetlights, schools, hospitals, and residential and commercial complexes. They do so by integrating artificial intelligence with physical infrastructure. The extensive usage of IoT devices and other devices drives the usage of cellular modules.
Data Security Challenges Hinders Global Cellular M2M Modules Market
Posing a challenge to the global cellular M2M modules market, on the other hand, is the concerns about data leak owing to increasingly sophisticated nature of cyberattacks. This is because of the heavy usage of cloud networks and Wi-Fi networks.
Despite such setbacks, the global cellular M2M modules market is predicted to rise with the extensive rollout of 3G, 4G, and CDMA.
North America Makes Maximum Revenue Owing to Cellular IoT
From a geographical standpoint, the global cellular M2M modules market is spread across North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe. Among them, North America is a major revenue generator. Going forward too, it is expected to hold on to its prominent position. This is because of the proliferation of cellular IoT and a bettering internet infrastructure. Apart from that, thrust on uptake of latest cutting-edge technologies is also positively impacting the market in the region.
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