Global Cellular M2M Value-Added Services (VAS) Market Will Be Affected by the Declining Cost of Connectivity Applications | Technavio
The global cellular M2M value-added services (VSD) market size is poised to grow by USD 76.08 billion during 2020-2024, progressing at a CAGR of almost 39% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Cellular M2M Value-Added Services (VAS) Market 2020-2024 (Graphic: Business Wire)
One of the key drivers for the cellular M2M market is the growing demand for connectivity. This demand is encouraging the M2M service operators to enable a capable cellular and satellite network infrastructure. The aviation sector is highly reliant on SatCom connectivity for automated flight operations and on-board Wi-Fi or mobile usage to cater to the increasing customer demand. The installation and deployment of satellite terminals such as IP Voyager on any vehicle with its tracking antenna to track satellite signals during movement. This increasing demand for connectivity will significantly fuel the cellular M2M VAS market growth during 2020-2024.
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- The major cellular M2M value-added services market growth is driven by the consumer electronics market, which is due to the rising adoption of cellular broadband networks in households and the trend among consumers to use smart connected devices among consumers.
- Europe was the largest cellular M2M value-added services market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. …