The Europe Cellular M2M Market would witness market growth of 20.7% CAGR during the forecast period (2022-2028).
In emerging countries, the worldwide landscape for machine-to-machine connections is increasing. Embedded telecommunications have opened the path for market development due to the growing demand for data dependability and efficiency. Additionally, as the cost of connection and connectivity services has decreased, manufacturers are becoming capable to adopt a more favorable attitude toward wireless communications due to its advantages. M2M devices are widely used across numerous verticals, particularly in the insurance and automobile sectors due to their cost-effective networking. M2M value-added services are also being leveraged by small and medium enterprises to secure the safety and security of their cars and drivers.
The demand for a universal M2M platform has grown in response to the growing requirement for wireless communication. The market for cellular M2M is being driven by a rise in the requirement for risk assessment and management services, a decrease in the cost of connection applications, and the growing utilization of the Internet of Things.
Increased investment in high-speed internet, as well as connectivity technologies like 4G and 5G, may help to support the market in the future. For example, the United Kingdom government proposed a $38 million (£28 million) investment in innovative 5G experiments in January 2021. The collaborative investment from government and business will fund nine UK-wide projects that will benefit from 5G while also assisting British enterprises.
In addition, the region comprises a significant and robust healthcare infrastructure. The expenditure in the healthcare sector holds a substantial proportion of the overall expenditure of the region. Moreover, according to the Office of National Statistics, the United Kingdom spent 3,933 USD per person on the healthcare in 2017. A total of 9.6% of the overall expenditure of the United Kingdom was spent on the development of healthcare technologies.
The Germany market dominated the Europe Cellular M2M Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,484.8 million by 2028. The UK market is anticipated to grow at a CAGR of 19.8% during (2022 - 2028). Additionally, The France market would display a CAGR of 21.6% during (2022 - 2028).
Based on Organization Size, the market is segmented Large Enterprises and Small & Medium Enterprises (SMEs). Based on Services Type, the market is segmented into Connectivity Services, Professional Services, and Managed Services. Based on Application, the market is segmented into Asset Tracking & Monitoring, Predictive Maintenance, Telemedicine, Warehouse Management, Industrial Automation, Fleet Management, Smart Meter, and Others. Based on End User, the market is segmented into Manufacturing, Healthcare, Energy & Utilities, Transportation & Logistics, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Cellular M2M Market Size will Hit $38 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AT&T, Inc., Verizon Communications, Inc., Vodafone Group Plc, Orange S.A., Telefonica S.A., Deutsche Telekom AG, Ericsson AB, Giesecke & Devrient GmbH, Thales Group S.A., and Infineon Technologies AG.
By Organization Size
By Services Type
By Application
By End User
By Country
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