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Cellular M2M Module Market size to increase by USD 2.24 Bn | Use of M2M technology for remote patient monitoring to drive growth | TechnavioNEW YORK, Jan. 17, 2022 /PRNewswire/ -- The cellular M2M module market value is set to grow by USD 2.24 billion, progressing at a CAGR of 9.01% from 2020 to 2025, as per the latest report by Technavio.
Many countries across the world are making significant investments in the development of smart cities, which is driving the adoption of several smart solutions such as smart parking, smart meters, and smart grids. This is consequently attracting investments in the improvement of the LTE infrastructure. For instance, in June 2021, Telit, a global vendor of IoT solutions expanded its partnership with Hi-mix Electronic S/A, a Brazilian electronic manufacturing service (EMS) provider, for the development of LTE modules. Besides, the growing number of consumers falling in the 20-30 age group is increasing the market for connected appliances. All these factors are driving the demand for M2M module technologies. Technavio offers an up-to-date analysis regarding the current global market scenario and the overall market environment. Download Free Sample Report Cellular M2M Module Market: Use of M2M technology for remote patient monitoring The use of M2M technology in remote patient monitoring ensures diagnosis accuracy and efficient tracking and monitoring of patients' health. The growing adoption of the technology in healthcare is encouraging many vendors to offer both modules and modem-based solutions that meet end-user requirements. With the aging population, high life expectancy, and growth in the number of individuals with chronic disorders, the need for efficient cellular M2M communications to enable data transmission for monitoring individuals with various conditions has increased globally. This is expected to drive the growth of the global cellular M2M module market during the forecast period. To know about other market drivers, trends, and challenges, Download our free sample report Regional Market Analysis With 41% of the growth originating from North America, the region will record a faster growth rate during 2020-2025. The presence of leading players and increasing investments in R&D are driving the growth of the cellular M2M market in North America. Also, rapid technological advances, changing customer preferences regarding the use of electronic devices, and significant investments to improve the LTE infrastructure are propelling the growth of the cellular M2M module market in North America. For Additional Information about the regional market: Request for a free sample report Cellular M2M module Market: Segmentation Analysis This market research report segments the cellular M2M module market by technology (4G, 3G, 2G, and CDMA) and application (smart utilities, home appliances and consumer electronics, manufacturing, and others). By technology, the market generated maximum revenue in the 4G segment in 2021. The increasing deployment of 4G technologies across the automotive and energy sectors is fueling the growth of the segment. Also, the increasing demand for long-range connectivity solutions is contributing to the segment's growth. Similarly, by application, the smart utilities segment is expected to offer several growth opportunities for market players over the forecast period. Increasing investments in smart grids and rising emphasis on renewable energy are driving the growth of the segment. Know more about the segmentation insights that assist global businesses to obtain growth opportunities. Download Free sample report Related Reports: Smart Antenna Market by Application and Geography - Forecast and Analysis 2022-2026 Smart Tracker Market by Technology, Application, and Geography - Forecast and Analysis 2021-2025
Some of the key topics covered in the report include: Market Challenges Market Drivers Market Trends Vendor Landscape
About Technavio With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts
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