Global Cellular Based M2M VAS Market Overview
Cellular Based M2M VAS Market Size was estimated at 25.31 (USD Billion) in 2022. The Cellular Based M2M VAS Market Industry is expected to grow from 29.78(USD Billion) in 2023 to 128.75 (USD Billion) by 2032. The Cellular Based M2M VAS Market CAGR (growth rate) is expected to be around 17.66% during the forecast period (2024 - 2032).
Key Cellular Based M2M VAS Market Trends Highlighted
Main Factors Affecting The Market:
Several factors, including the increasing penetration of IoT connections, remote monitoring and connectivity expectations across different industries, and the rising trend of cellular networks for M2M communications, are boosting the Cellular Based M2M VAS Market.
Target Markets:
There is enough scope for development in the illuminated continents with regard to the market as the areas with the requirement of affordable and present M2M connectivity are vast. Also, newer growth prospects are likely to be opened with the improvement of cellular technology, including 5 G and NB-IoT.
Recent Trends:
The increasing trend of M2M applications includes healthcare, logistics, and manufacturing sectors, as well as a rise in M2M platform usage for data collection and analysis, as well as AI and ML for predictive maintenance and improvement of M2M systems.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cellular Based M2M VAS Market Drivers
Growing Adoption of IoT Devices
The proliferation of IoT devices is a major driver of growth in the Cellular Based M2M VAS Market Industry. These devices are used in a wide range of applications, including smart cities, industrial automation, and healthcare. As the number of IoT devices grows, so too does the demand for cellular-based M2M connectivity. Cellular-based M2M connectivity provides a reliable and secure way to connect IoT devices to the internet, allowing them to transmit data and receive commands.This connectivity is essential for the operation of IoT devices, and its growing adoption is a major factor driving the growth of the Cellular Based M2M VAS Market Industry. In addition to the growing adoption of IoT devices, other factors that are contributing to the growth of the Cellular Based M2M VAS Market Industry include the increasing demand for remote monitoring and control, the growing popularity of cloud-based services, and the increasing adoption of smart grids.These factors are expected to continue to drive the growth of the market in the coming years.
Government Initiatives
Government initiatives are another major driver of growth in the Cellular Based M2M VAS Market Industry. Governments around the world are increasingly recognizing the benefits of cellular-based M2M connectivity, and they are implementing a variety of initiatives to promote its adoption. These initiatives include providing financial incentives to businesses that adopt cellular-based M2M connectivity, developing standards for cellular-based M2M communication, and investing in research and development of cellular-based M2M technologies.
Technological Advancements
Technological advancements are also playing a major role in the growth of the Cellular Based M2M VAS Market Industry. The development of new cellular technologies, such as 5G, is making it possible to connect more devices to the internet at faster speeds and with lower latency. This is making cellular-based M2M connectivity more attractive for a wider range of applications. In addition, the development of new cloud-based services is making it easier for businesses to manage and monitor their cellular-based M2M devices.
Cellular Based M2M VAS Market Segment Insights
Cellular Based M2M VAS Market Technology Insights
Narrowband IoT (NB-IoT), LTE-M, Cat-M1, and Cat-NB1 are the key technologies driving the growth of the Cellular Based M2M VAS Market. NB-IoT is expected to hold the largest market share in 2023, owing to its low power consumption and wide area coverage. LTE-M is expected to witness the highest growth rate during the forecast period, due to its high data rates and low latency. The growth of this market is attributed to the increasing adoption of IoT devices and the growing need for connectivity in various industries.
technology segment plays a crucial role in determining the overall market dynamics.NB-IoT is a popular choice for applications requiring low power consumption and long battery life, such as smart metering and asset tracking. LTE-M, on the other hand, is suitable for applications requiring higher data rates and lower latency, such as connected cars and industrial automation. Cat-M1 and Cat-NB1 are designed for low-power wide-area applications and are expected to gain traction in the coming years.
The market is witnessing a shift towards higher-speed technologies, with LTE-M and Cat-M1 gaining prominence. These technologies offer faster data rates and lower latency, enabling new applications and services.NB-IoT remains a popular choice for low-power applications, and it is expected to continue to hold a significant share of the market. Overall, the technology segment is expected to witness significant growth in the coming years, driven by the increasing adoption of IoT devices and the growing demand for connectivity in various industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cellular Based M2M VAS Market Application Insights
The Cellular Based M2M VAS Market is segmented into various applications, including remote monitoring, asset tracking, fleet management, smart metering, and healthcare. Among these segments, remote monitoring is expected to witness significant growth in the coming years due to increasing demand for real-time data and analytics for optimizing operations and improving decision-making. The increasing adoption of asset tracking solutions in industries such as transportation and logistics is driving the growth of this segment.
The Cellular Based M2M VAS Market size for asset tracking is estimated to reach $128.75 billion by 2032.Fleet management is also a key application segment, with increasing demand from various sectors, including transportation, logistics, and construction. The adoption of fleet management solutions helps businesses optimize fleet operations, reduce costs, and improve safety. The Cellular Based M2M VAS Market data for fleet management is expected to grow at a steady pace in the coming years. Smart metering is another promising application segment in the Cellular Based M2M VAS Market. The growing adoption of smart meters in utilities and energy management is contributing to the growth of this segment.
The Cellular Based M2M VAS Market statistics for smart metering is expected to witness significant growth in the future. Healthcare is also an important application segment in the Cellular Based M2M VAS Market industry. The increasing use of cellular-based M2M devices in healthcare applications, such as remote patient monitoring, telemedicine, and medical device connectivity, is driving the growth of this segment. The Cellular Based M2M VAS Market growth for healthcare is expected to continue at a steady pace in the coming years.
Cellular Based M2M VAS Market Industry Insights
The Cellular Based M2M VAS Market segmented by Industry is expected to grow significantly over the forecast period. The automotive industry is expected to account for the largest share of the market, driven by the increasing adoption of connected cars and the growing demand for remote diagnostics and maintenance services. The manufacturing industry is also expected to witness significant growth, as more and more manufacturers adopt M2M technology to improve operational efficiency and reduce costs.
The healthcare industry is another key segment, with M2M technology being used for remote patient monitoring, asset tracking, and inventory management.The utilities industry is also expected to see strong growth, as M2M technology is used for smart grid management and distribution automation. Finally, the transportation industry is expected to grow steadily, with M2M technology being used for fleet management, tracking, and safety applications. Overall, the Cellular Based M2M VAS Market is expected to grow at a CAGR of 17.66% from 2024 to 2032, reaching a value of USD 128.75 billion by 2032.
Cellular Based M2M VAS Market Deployment Model Insights
The deployment model segment of the Cellular Based M2M VAS Market is bifurcated into public network-based and private network-based. The public network-based model dominates the market due to its extensive coverage, reliability, and cost-effectiveness. It enables M2M devices to connect to cellular networks without the need for dedicated infrastructure, making it a viable option for large-scale deployments. On the other hand, the private network-based model offers greater control and security, but it requires significant investment in infrastructure and maintenance.
This model is typically adopted by enterprises that require high levels of customization and security for their M2M applications. According to industry estimates, the public network-based segment accounted for over 86% of the Cellular Based M2M VAS Market revenue in 2023 and is projected to maintain its dominance throughout the forecast period.
Cellular Based M2M VAS Market Form Factor Insights
The Form Factor segment of the Cellular Based M2M VAS Market is classified into Embedded modules, Ruggedized devices, and Gateways. Embedded modules are expected to dominate the market with a revenue of USD 13.54 billion by 2024, owing to their compact size and low power consumption. Ruggedized devices are projected to grow at a CAGR of 18.2% during the forecast period, driven by increasing demand for these devices in harsh environments. Gateways are anticipated to witness steady growth, facilitated by their ability to connect various devices and applications.The Cellular Based M2M VAS Market segmentation provides valuable insights into the market dynamics and helps stakeholders identify potential growth opportunities.
Cellular Based M2M VAS Market Regional Insights
The Cellular Based M2M VAS Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2023, owing to the presence of a large number of cellular network operators and a high adoption rate of M2M technology. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness the highest growth rate during the forecast period, due to the increasing demand for M2M solutions in emerging economies such as China and India.South America and MEA are expected to account for a relatively smaller share of the Cellular Based M2M VAS Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cellular Based M2M VAS Market Key Players And Competitive Insights
Major players in the Cellular Based M2M VAS Market industry are engaging in strategic collaborations and partnerships to expand their global reach and gain a competitive edge. Leading Cellular Based M2M VAS Market players are investing heavily in research and development to introduce innovative solutions that cater to evolving customer needs. The Cellular Based M2M VAS Market industry is characterized by a high degree of competition, with established players and new entrants vying for market share.
To stay ahead in the competition, major players are adopting various strategies, including product differentiation, geographical expansion, and mergers and acquisitions. The competitive landscape is expected to remain dynamic as companies continue to innovate and adapt to changing market conditions.A leading company in the Cellular Based M2M VAS Market industry is Qualcomm Technologies, Inc. The company offers a comprehensive portfolio of cellular-based M2M VAS solutions, including chipsets, modules, and software. Qualcomm Technologies has a strong global presence and a wide customer base across various industries. The company's focus on innovation and customer-centricity has enabled it to maintain a leadership position in the market.A competitor of Qualcomm Technologies in the Cellular Based M2M VAS Market industry is u-blox AG.
The company provides a range of cellular-based M2M VAS modules and solutions for a diverse range of applications. u-blox has a strong presence in Europe and North America and is expanding its reach in other regions. The company's commitment to quality and reliability has earned it a reputation as a trusted provider in the market.
Key Companies in the Cellular Based M2M VAS Market Include:
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Sierra Wireless
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Ericsson
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Qualcomm Technologies
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Huawei Technologies
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Intel Corporation
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Thales Group
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Microsoft Corporation
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Google LLC
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Amazon Web Services
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Thales
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Nokia Corporation
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ublox AG
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Broadcom Inc.
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MediaTek Inc.
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Samsung Electronics
Cellular Based M2M VAS Market Industry Developments
The Cellular Based M2M VAS Market is projected to reach USD 128.75 billion by 2032, exhibiting a CAGR of 17.66% during the forecast period. The market growth is attributed to the increasing adoption of cellular-based M2M communication in various industries, including automotive, healthcare, manufacturing, and utilities. Additionally, the growing demand for connected devices and the proliferation of IoT applications are driving market expansion. Recent developments include the launch of 5G networks, which offer higher bandwidth and lower latency, enabling new use cases for cellular-based M2M communication. Furthermore, strategic partnerships between cellular network providers and M2M solution providers are shaping the market landscape, leading to the development of innovative solutions and services.
Cellular Based M2M VAS Market Segmentation Insights
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Cellular Based M2M VAS Market Technology Outlook
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Narrowband IoT (NB-IoT)
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LTE-M
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Cat-M1
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Cat-NB1
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Cellular Based M2M VAS Market Application Outlook
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Remote monitoring
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Asset tracking
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Fleet management
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Smart metering
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Healthcare
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Cellular Based M2M VAS Market Industry Outlook
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Automotive
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Manufacturing
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Healthcare
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Utilities
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Transportation
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Cellular Based M2M VAS Market Deployment Model Outlook
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Public network-based
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Private network-based
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Cellular Based M2M VAS Market Form Factor Outlook
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Embedded modules
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Ruggedized devices
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Gateways
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Cellular Based M2M VAS Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
25.31(USD Billion) |
| Market Size 2023 |
29.78(USD Billion) |
| Market Size 2032 |
128.75(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
17.66% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Sierra Wireless, Ericsson, Qualcomm Technologies, Huawei Technologies, Intel Corporation, Thales Group, Microsoft Corporation, Google LLC, Amazon Web Services, Thales, Nokia Corporation, ublox AG, Broadcom Inc., MediaTek Inc., Samsung Electronics |
| Segments Covered |
Technology, Application, Industry, Deployment Model, Form Factor, Regional |
| Key Market Opportunities |
Advanced asset tracking Remote diagnostics Smart metering Fleet management Smart home applications |
| Key Market Dynamics |
Growing IoT Adoption Smart City Initiatives Integration of AI and ML 5G Network Expansion High Demand for Remote Monitoring and Control |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Cellular Based M2M VAS Market is expected to reach USD 128.75 billion by 2032, exhibiting a CAGR of 17.66% from 2024 to 2032.
North America is expected to account for the largest market share, owing to the presence of a large number of M2M service providers and the early adoption of advanced technologies.
The growth of the market is primarily driven by the increasing adoption of M2M devices, the rising demand for connected devices, and the growing need for efficient and reliable communication solutions.
Cellular Based M2M VAS technology is widely used in various applications, including smart metering, remote monitoring, fleet management, and healthcare.
Some of the key competitors in the market include Ericsson, Nokia, Huawei, Sierra Wireless, and Telit.
The Cellular Based M2M VAS Market is expected to be valued at USD 29.78 billion in 2023.
The market faces challenges such as security concerns, the lack of standardization, and the high cost of implementation.
The market is expected to witness significant growth in the coming years, driven by the increasing adoption of IoT devices and the growing demand for wireless connectivity.
Key trends include the adoption of 5G technology, the rise of cloud-based solutions, and the increasing focus on data analytics.
The Cellular Based M2M VAS Market is projected to reach USD 128.75 billion by 2032.
