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Global M2M Services Industry Expected to Reach $60.9 Billion by 2027, Despite COVID-19

Dublin, July 13, 2020 (GLOBE NEWSWIRE) -- The "M2M Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global M2M Services Market to Reach US$60.9 Billion by the Year 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 grow at a 30.6% CAGR to 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. This segment currently accounts for a 4% share of the global M2M Services market.

The U.S. Accounts for Over 29.9% of Global Market Size in 2020, While China is Forecast to Grow at a 23.7% CAGR for the Period of 2020-2027

The M2M Services market in the U.S. is estimated at US$4 Billion in the year 2020. The country currently accounts for a 29.9% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$10.6 Billion in the year 2027 trailing a CAGR of 23.7% through 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 while Rest of European market (as defined in the study) will reach US$10.6 Billion by the year 2027.

Healthcare Segment Corners a 9.4% Share in 2020

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.

The publisher brings years of research experience to this 9th edition of the report. The 121-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:

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 N.V.



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.

Total Companies Profiled: 43 For more information about this report visit https://www.researchandmarkets.com/r/apnq Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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