The global mobile M2M module market is expected to grow at a staggering CAGR of over 21% by 2020, according to the latest market study released by Technavio.
The market research firm said that consumers worldwide are adopting connected devices (such as tablets, smartphones), and PDAs at a much faster rate. These devices can be intelligently connected to each other through advanced M2M modules, smart sensors, and software. The mobile M2M modules enable data flow at high speed and sharing real-time information, helping the growth of businesses.
According to Technavio, telecommunication operators play a vital role in providing services at high speed to consumers by deploying advanced wireless technologies such as 3G and 4G/LTE. These wireless technologies help enterprises in obtaining real-time information, thereby enhancing their operations. In addition, the combination of cellular networks and M2M technology improves the efficiency of organizations by improving speed and accuracy of real-time information without the need for human intervention.
The global mobile M2M module market by 2G technology shipped 50 million units in 2015 and is likely to ship 54 million units by 2020, growing at a CAGR of around 2%. The cost of a 2G CDMA network is less compared to 2G GSM and 3G HSPA. Therefore, 2G CDMA is a cost-effective solution for most IoT or M2M applications.
The global mobile M2M module market by 3G technology shipped 44 million units in 2015 and is likely to ship 168 million units by 2020, growing at a CAGR of nearly 31%. With the increase in number of connected devices and demand for high-speed data and bandwidth, most service providers are shifting toward 3G networks.
The global mobile M2M module market by LTE technology shipped 7 million units in 2015 and is likely to ship 87 million units by 2020, growing at a CAGR of around 66%. The market for LTE modules is expected to grow rapidly during the forecast period. LTE provides high-bandwidth and high-speed data transfer for M2M applications. Most M2M applications in the automotive and energy sectors require high-bandwidth and high-speed for efficient functioning. Further, the rise in implementation of M2M applications among enterprises requires the real-time transfer of data and information among M2M devices. Hence, enterprises are increasingly adopting LTE modules, said Technavio.
