Global M2M Services Market to Reach $60.9 Billion by 2027
Amid the COVID-19 crisis, the global market for M2M Services estimated at US$13.4 Billion in the year 2020, is projected to reach a revised size of US$60.9 Billion by 2027, growing at a CAGR of 24.2% over the analysis period 2020-2027. Retail, one of the segments analyzed in the report, is projected to record a 30.6% CAGR and reach US$5.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Manufacturing segment is readjusted to a revised 31.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4 Billion, While China is Forecast to Grow at 23.7% CAGR
The M2M Services market in the U.S. is estimated at US$4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.6 Billion by the year 2027 trailing a CAGR of 23.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.5% and 20.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 17% CAGR.
Healthcare Segment to Record 22.1% CAGR
In the global Healthcare segment, USA, Canada, Japan, China and Europe will drive the 22.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1 Billion in the year 2020 will reach a projected size of US$4.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7.2 Billion by the year 2027.
Select Competitors (Total 43 Featured):
Amid the COVID-19 crisis, the global market for M2M Services estimated at US$13.4 Billion in the year 2020, is projected to reach a revised size of US$60.9 Billion by 2027, growing at a CAGR of 24.2% over the analysis period 2020-2027. Retail, one of the segments analyzed in the report, is projected to record a 30.6% CAGR and reach US$5.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Manufacturing segment is readjusted to a revised 31.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4 Billion, While China is Forecast to Grow at 23.7% CAGR
The M2M Services market in the U.S. is estimated at US$4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.6 Billion by the year 2027 trailing a CAGR of 23.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.5% and 20.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 17% CAGR.
Healthcare Segment to Record 22.1% CAGR
In the global Healthcare segment, USA, Canada, Japan, China and Europe will drive the 22.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1 Billion in the year 2020 will reach a projected size of US$4.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7.2 Billion by the year 2027.
Select Competitors (Total 43 Featured):
- Aeris Communications, Inc.
- AMDOCS Ltd.
- Applied Satellite Technology Systems Ltd.
- AT&T, Inc.
- China Mobile Ltd.
- Comarch SA
- Digi International, Inc.
- EE Limited
- Ericsson AB
- Gemalto NV
- Huawei Technologies Co., Ltd.
- KORE Wireless Group, Inc.
- Novatel Wireless, Inc.
- Nupoint Systems Inc.
- Oracle Corporation
- Orange Business Services
- PTC, Inc.
- Quake Global, Inc.
- Rogers Communications, Inc.
- Sierra Wireless, Inc.
- Sprint Corporation
- Tech Mahindra Ltd.
- Telefonica SA
- Telia Company AB
- Telit Communications PLC
- u-blox AG
- Verizon Wireless
- Wipro Ltd.
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I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS
1. MARKET OVERVIEW
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
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