The global cellular M2M value-added services (VAS) market to grow at a CAGR of 40.64% during the period 2017-2021.
The report, Global Cellular M2M Value-Added Services (VAS) Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is growth of the automotive industry by leveraging 5g technology. 5G network is expected to support developments such as autonomous vehicles, M2M and machine-to-infrastructure services, as well as IoT. Over the years, automotive manufacturers and telecom providers have been developing connectivity solutions such as IoT connectivity platforms. IoT connectivity enables the interconnectivity between two vehicles. Innumerable sensors and processors integrated into a car provide accurate and real-time information about the surrounding environment to the driver.
According to the report, one of the major drivers for this market is declining cost of connectivity applications. The integrated telematics penetration is increasing year-over-year (YoY) worldwide due to the increased demand for smartphones and the new regulations related to the safety features of automobiles. Basic delivery of the safety features of the vehicles in the era of advancing technology does not amount to a competitive edge. Premium telematics solutions including navigation, infotainment, and vehicle-to-vehicle communication are required to satisfy the growing demands of the customers. These premium services increase the telematics retention and also average revenue per user (ARPU).