The managed M2M services market may gain profitable growth during the assessment period of 2024-2030 on the back of the growing use of technology across a wide arena of industries. The extensive penetration of the internet in diverse regions and favorable regulatory mandates may bring promising growth prospects for the managed M2M services market through the forecast period of 2024-2030.
An M2M service is an umbrella term to describe any technology that allows network devices to exchange information and perform tasks without any manual assistance. These services are used across diverse industries such as oil and gas, transportation, banking and financial institutions, telecom, IT, automotive, healthcare, retail, and transportation sectors. This factor invites great growth opportunities for the managed M2M services market.
The utilization of managed M2M services across various applications in the healthcare sector is estimated to bring promising growth. The COVID-19 outbreak is bringing great opportunities for the managed M2M services market. Blood pressure monitors, multi-parameter monitors, blood glucose meters, smart pill dispensers, fall detectors, and telemedicine are some of the vital applications of managed M2M services.
M2M services help in streamlining business processes, reduces redundancy, and increases efficiency. These specialties of managed M2M services may help in harnessing exponential growth.
This report on the managed M2M services market aids the stakeholder to eliminate the barriers of fake information and offers a total analysis of varied segments. The report offers a five-factor (latest trends, industry analysis, a detailed study on the regions, prominent players, and recent developments) advantage to the stakeholder. This factor plays a crucial role in imparting the right information to the stakeholder.
Furthermore, the study pays attention to the effect of the SARS-CoV-2 pandemic and also on the dangers that may hurt the growth of the managed M2M services market. The detailed study conducted by the researchers also sheds light on the opportunities and challenges that the managed M2M services market may face between 2024 and 2030.
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Managed M2M Services Market: Competitive Prospects
The managed M2M services market has a large number of players in the fray for acquiring a dominant position among others. The massive number of players places the managed M2M services market into the highly fragmented category.
The players are involved in expansive research and development activities that assist them in gaining useful insights into the managed M2M services market. These insights enable the players to implement strategies and formulations that help them in launching novel products and technological upgrades.
Mergers, acquisitions, collaborations, joint ventures, and partnerships allow the players to enhance their product portfolio and strengthen their presence across the managed M2M services market, eventually increasing the growth rate. Expansion activities are also on the radar of the players. These activities allow the players in the managed M2M services market to further explore untapped opportunities.
Some well-established players in the managed M2M services market are Vodafone Group, Huawei Technologies Co., Ltd., IBM, Verizon, Deutsche Telekom AG, Rogers Communications, and Gemalto NV.
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Managed M2M Services Market: Key Trends
The adoption of wired and wireless connectivity coupled with the inculcation of new connectivity technologies like 4G and 5G may serve as a prominent growth factor for the managed M2M services market. The heightening need for the integration of software across a line of products may help the managed M2M services market to gain sufficient growth.
However, expensive installation and high maintenance are some of the factors that may act as growth restraints for the managed M2M services market.
Managed M2M Services Market: Regional Perspective
Asia Pacific’s managed M2M services market may garner considerable growth across the assessment period of 2024-2030. Varied initiatives like smart cities in diverse countries around Asia Pacific may serve as a vital growth factor for the managed M2M services market. North America’s managed M2M services market may also gain lucrative growth through the assessment period.
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