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M2M Services Market to flourish at a steady CAGR of 27.2%; Growth in Internet Connectivity to Fuel Demand – TMR

1075 Days ago

The key growth drivers of the global M2M services market include expanded fiber optic cable networks and improved Internet connectivity.

Albany, New York, June 17, 2019 (GLOBE NEWSWIRE) -- Machine-to-machine or M2M technology helps networked gadgets to perform tasks and exchange information without any human assistance. M2M communication takes place among the mobile networks, which utilize fiber optics as their mode to transfer large amount of data. Improved network connectivity and expanded network of optic cables are some of the major factors supporting the demand in global M2M services market.

According to a recent report by Transparency Market Research, the global M2M services market is foreseen to flourish at a steady CAGR of 27.2% within the forecast period from 2017 to 2025. The leading firms are indulging into several business strategies like mergers and acquisitions and collaborations. The firms are also investing in research and development activities to improve network connectivity and to serve more and more customers.

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With a notable developments in connection speed and internet connectivity in past few years, the M2M service givers are effectively providing improved and integrated telecom solutions to their consumers. In addition, cloud solutions by M2M service providers can be potentially be used on large number of deices to transfer huge amount of data.

Moreover, major drop in operational prices of M2M services due to improved wireless connectivity are responsible for the development of global M2M services market.

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Investments by Telecom Firms to Support Market Growth

Rising investments by telecom firms for the growth of fiber optic networks is additionally propelling the demand in M2M services market. In addition, the rising number of connected gadgets that transfer information through fiber optic networks is anticipated to surge growth of the global M2M services market in the forthcoming years.

On the other hand, consequences of theft of important information during cyber-attack are hindering the development of global M2M services market. This is credited to the fact that M2M service links several devices to their back-end IT infrastructure of a firm which results in hacking of data through several devices via a single platform.

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Incidents of Cyber-attack leading to Information Theft across Connected Devices Hampers M2M Service Adoption

On the flip side, repercussions of theft of valuable data in the event of a cyber-attack are providing headwinds to the growth of global M2M services market. This is because M2M service connects multiple devices to the back-end IT infrastructure of an organization that results in hacking of information from multiple devices through a single platform.

Nevertheless, players in the market are engaged in designing secure M2M platforms and imparting knowledge among M2M service users about the safe usage of M2M communication technology.

The information presented is based on the findings of a report by Transparency Market Research, titled “M2M Services Market (Organization Type - Large Enterprises and SMEs; Services - Managed Services, Professional Services, Connectivity and Data Storage Services; Industry Vertical - Retail, Manufacturing, Healthcare, Automotive, Consumer Electronics, Energy and Mining, Transportation and Logistics, and Oil and Gas - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025.”

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