6Wresearch said short range M2M modules have accounted for 49.48 percent of the market share in the overall M2M modules market in 2011. Cellular M2M modules generated $9.15 million in 2011 and are expected to reach $41.54 million by 2016. Satellite M2M modules generated $2.43 million in 2011 and are likely to reach $10.67 million by 2016.
Recently, Frost & Sullivan said 2012 is expected to be a year when telecom providers in Europe will begin developing consumer machine to machine (M2M) opportunities in addition to their current enterprise focus. Monetising M2M data will be one of the key drivers for such an aggressive growth forecast.
According to 6Wresearch, automotive, transport & logistics applications account for 75.9 percent of the market share in the overall modules market. Applications such as utilities and security are likely to grow with CAGR of 38.12 percent and 35.24 percent, respectively.
The research report said M2M modules market in India is still in the nascent stage but it offers high growth opportunities to market vendors.
The demand for remote monitoring & control, government initiatives, launch of 3G networks and reducing human efforts have increased the Indian M2M modules market. The Indian M2M modules market is dominated by short range M2M modules but cellular and satellite M2M modules have CAGR of 35.32 percent and 34.44 percent, respectively from 2011-2016.
The M2M modules can be classified as short range, cellular and satellite M2M modules, which are commonly used in wide range of applications such as utilities, security, automotive, transport & logistics, healthcare and retail & financial services. Automotive, transport & logistics application is the prominent application market for M2M modules; however application markets such as security and utilities are the most emerging markets.