According to 6Wresearch, India's M2M market is estimated to generate revenue of $7.10 billion in 2015.
India Machine to Machine (M2M) Market to Surpass $7 Billion in 2015 - 6wresearch 6Wresearch - Knowledge partner of the recently concluded India M2M Conclave 2015, Bangalore - announces the release of India Machine to Machine Market (2015-2021) report.
Increasing demand for connected devices, rising awareness, penetration of smart devices are some of the factors driving the growth of M2M market in India. New government initiatives such as 100 smart cities project coupled with increasing country's IT spending is further expected to fuel the M2M market in India.
The Country is also exhibiting installation of fourteen smart grids and 130 million smart meters in the coming years, which would spur the M2M market in utility application. According to 6Wresearch, India's M2M market is estimated to generate revenue of $7.10 billion in 2015. Shifting focus of telecom companies to provide M2M services, declining module prices and government initiatives such as National Telecom Policy is anticipated to boost the market for M2M in India.
According to "Rajat Kharbanda Senior Consultant, Research and Consulting, 6Wresearch," India M2M market is witnessing significant development in the areas of automotive and utilities. Need for fleet management, emergence of connected cars or telematics and rising number of radio taxis in the country would provide necessary growth to M2M market in the automotive vertical.
"Furthermore, demand for M2M services is exhibited to gain momentum owing to Government of India initiatives to build smart cities. Indian government is likely to spend nearly $100 million per year on each smart cities project which would be expected to create huge demand for M2M devices across various verticals," Rajat further added. According to Shefali Goel, Research Associate, Research and Consulting, 6Wresearch, Security, BFSI, Healthcare and Agriculture are the other key promising verticals where players can explore opportunities for revenue generation. Video surveillance, micro-finance, insurance, m-health and irrigation are the potential areas in these verticals. Cellular M2M market is emerging as a key revenue contributing segment in overall M2M market, where network operators are taking several steps to promote and increase awareness in the industry.
On the other hand, value added service segment has generated majority of the market revenues, whereas hardware has captured miniscule share." Shefali concluded. Some of the companies in India's M2M market include - Gemalto NV, Sierra Wireless, Telit Wireless Solution, SIMcom Wireless Solution, u-blox, Vodafone India, Tata Teleservices, Cisco and Wipro. "India's M2M Market (2015-2021)" provides in-depth analysis with 39 figures and 11 tables covered in 105 pages. The report estimates and forecast overall India's M2M market by revenue, type segments (hardware, connectivity & services) and verticals such as Automotive, Transport And Logistics, Utilities, Security, Retail & Financial services, Healthcare, Agriculture and other verticals. The study highlights the key potential areas and provides insights on competitive landscape, company profiles, market drivers and restraints. 6Wresearch has been tracking the India M2M market for the past several years and thus assisting players in devising various strategies in all areas of M2M and Internet (IoT) field including Telematics, Telemedicine / Healthcare, Transportation / Fleet management, Industrial application, Home applications, Financial services, Agriculture, Security and Energy & Utilities / Smart Grid. The Company has been periodically organizing conferences in the M2M space, recently concluded India M2M Conclave 2015, in order to spearhead the growth in the market.
Our current and past research and consulting projects related to M2M market include: India M2M Market - Trends, Analysis and Forecast (2015-2020) India Telematics Market - Opportunity Assessment (2014) India Smart Cities - Key Potential Areas (2015) India mHealth Market - Trends, Analysis and Forecast (2015-2020) India Smart Transportation Market - Trends, Analysis and Forecast (2015-2020) India Smart Grid Market - Competitive Benchmarking Analysis (2014) India Connected Cars Market - Trends, Analysis and Forecast (2015-2020) India Vehicle Tracking System Market – Market By Applications (2015) India In-Car Entertainment Systems Market (2015-2021): Market Forecast By Head Unit Types, Navigation Systems, Speaker Types, Fit and Region
Media Source: Industry Today