BURNABY, Canada, June 22, 2015 /PRNewswire/ --
Growing need for automation and real-time monitoring across various sectors to drive machine-to-machine (M2M) modules market in India through 2020
According to TechSci Research report, "India Machine-to-Machine (M2M) Modules Market Opportunities & Forecast, 2020", M2M modules market in India is projected to cross USD4.4 billion by 2020. Over the last few years, India has emerged as one of the fastest growing market for M2M modules in APAC. The market is expected to witness tremendous growth on account of rising government projects in India and increasing need for remote monitoring, tracking and controlling security & surveillance activities across various verticals such as supply chain & logistics, energy & utilities, etc., and ongoing technological developments in M2M modules to provide better connectivity. Machine-to-Machine (M2M) market in India is in its nascent stages, but demonstrates tremendous potential for growth.
Growing application of M2M in various sectors including energy & utilities, logistics, automotive, consumer electronics, coupled with favorable government initiatives such as smart cities, smart meters, etc. is projected to drive rapid growth in India M2M market in the coming years. However, over the past few years, machine-to-machine has undergone radical changes in terms of standardization, globally. This has also led to robust growth in adoption of cellular M2M modules, and consequently, this category has emerged as the fastest growing M2M module type in India. In 2014, consumer electronics formed the most dominating segment in India, followed by transport and security & surveillance sectors.
Major factors driving adoption of connected M2M devices include rising need for real-time remote monitoring for safety & security; growing demand for connected devices to reduce labor and operational costs and need for smart energy management solutions to reduce energy theft and transmission loss. In accordance with these developments, the market for transportation, retail and home & buildings have been witnessing significant growth over the last few years, with the M2M adoption expected to increase over the next five years as well in various verticals in India.
"Increase in number of government projects such as mandatory use of GPS and e-calls in commercial passenger vehicles; smart cities; smart transportation; and smart grids is driving the machine-to-machine (M2M) modules market in the country. Consumer electronics segment, in terms of connected M2M devices, is expected to continue its dominance in the Indian market in the coming years. Increasing adoption of satellite M2M module in supply chain & logistics, energy & utilities, retail and transportation segment to provide real-time remote monitoring and tracking of assets for enhanced security; government's M2M standardization initiatives; growing trend of combination modules to go hand-in-hand with the trend of miniaturization of devices to provide better functionality and features are among the major factors driving M2M module sales in the country.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Machine-to-Machine (M2M) ModulesMarket Forecast & Opportunities, 2020" has evaluated the future growth potential of India machine-to-machine (M2M) modules market and provides statistics and information on market structure, size, share and future growth of India M2M modules market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India Machine-to-Machine (M2M) modules market.
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