(I-BusinessNews.Com, June 17, 2021 ) The companies in the cellular M2M market are increasingly investing in integrating payment terminals to cater to the growing demand for mobile payments. The companies in the market are increasingly integrating flexible point of sale systems with fully integrated UX, to cater to the changing purchasing behavior. For instance, in 2020, Verizon Communications Inc., a US based cellular M2M company launched its new solution, Clover Flex, in partnership with Finserv, which is a mobile point-of-sale device that can enable touch less payments.
The cellular M2M market consists of sale of cellular machine to machine (M2M) and related services by entities (organizations, sole traders and partnerships) that provides cellular M2M products and solutions. Cellular M2M is the communication between any two devices from any location with enabled (subscriber identity module) SIM cards. The machines can be in communication through a wireless or wired connection. Cellular M2M is used for applications such as asset tracking and monitoring, predictive maintenance, telemedicine, fleet management, warehouse management, industrial automation, and smart meters.
Cellular M2M Market Report Segments:
1) By Services: Connectivity Services, Professional Services, Managed Services
2) By Organization Size: Large Enterprises, Small And Medium Enterprises (SMEs)
3) By Application: Asset Tracking And Monitoring, Predictive Maintenance, Telemedicine, Fleet Management, Warehouse Management, Industrial Automation, Smart Meter, Others
4) By End-User: Healthcare, Energy And Utilities, Transportation And Logistics, Manufacturing, Others
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The global cellular M2M market is expected to grow from $7.19 billion in 2020 to $8.76 billion in 2021 at a compound annual growth rate (CAGR) of 21.77%. The growth is mainly due increasing adoption of wireless connectivity across industries to improve operational efficiency, quality of products and services, and technologies advancements in connectivity are also enhancing the market growth. The cellular M2M market is expected to reach $23.79 billion in 2025 at a CAGR of 28.37%.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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