Canada, June 22: According to TechSci Research report, "
India Machine to Machine (M2M) Modules Market Opportunities & Forecast, 2020", M2M modules market in
India is projected to cross $
4.4 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 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
Indian M2M market in the coming years. However, over the past few years, M2M has undergone radical changes in terms of standardisation, 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 standardisation initiatives; growing trend of combination modules to go hand-in-hand with the trend of miniaturisation of devices to provide better functionality and features are among the major factors driving M2M module sales in the country.", said
Karan Chechi, Research Director, TechSci Research.
