The North America Cellular M2M Market would witness market growth of 20.1% CAGR during the forecast period (2022-2028).
Technological advancements along with digitalization in many countries are estimated to increase the demand for cellular M2M solutions in key verticals such as healthcare and utilities in order to eliminate human interaction. The rapidly rising adoption of various cutting-edge technologies all over the world is a major reason that would propel the adoption of M2M solutions. Businesses can leverage these solutions in order to reduce the requirement of labor. On the other hand, the utilization of M2M approach can also significantly lower the risk of human errors in various operations across numerous industries. Therefore, with the increasing adoption of modern technologies all over the world, the demand for M2M solutions is constantly increasing in various major verticals.
Additionally, cellular M2M networks are developing to become compatible enough to be implemented within fully autonomous networks like wireless sensor node systems, which is projected to provide several growth prospects for the cellular M2M market in the future. In maintaining M2M device connections, connectivity is one of the most crucial aspects. Wireless communication is becoming more broadly utilized in a wide variety of businesses. M2M has unlocked a broad range of connectivity alternatives for enterprises with devices spread across several sites.
The increasing growth of the transportation and logistics industry across the region is one of the major factors that is propelling the growth of the cellular M2M market in North America. In the United States, the transportation and logistics industry is fiercely competitive. Multinational corporations can better facilitate the transportation of goods all over the largest consumer market of the world by investing in this industry. This industry benefits from a highly skilled workforce and low expenses for both international and domestic enterprises. According to the SelectUSA, in 2018, business logistics costs in the United States exceeded $1.6 trillion, which is 8% of GDP overall GDP of the nation. In addition, in 2018, the industry received $1.5 billion in foreign direct investment. Due to this factor, the cellular M2M market players would witness significant growth prospects in the transportation and logistics industry.
The US market dominated the North America Cellular M2M Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,504.2 million by 2028. The Canada market is poised to grow at a CAGR of 22.8% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 21.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Cellular M2M Market is Estimated to reach $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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