MONTREAL, May 7, 2012 /ATR-Newswire/ ELECTRONICS.CA PUBLICATIONS, the electronics industry market research and knowledge network, announces the release of a comprehensive global report on the Satellite Machine-to-Machine (M2M) Services markets. Global market for Satellite Machine-to-Machine (M2M) Services is projected to reach US$1.6 billion by the year 2017. Growth will be primarily driven by the launch of new satellite services designed to support high-speed, next-generation data intensive M2M applications. Growth will additionally stem from untapped opportunities that exist beyond conventional asset monitoring functions.
Machine-to machine (M2M) is a relatively fledging technology that allows assets, devices, and machines to exchange data with management systems of a company or with people requiring information. The presence of millions and billions of machines, electronic as well as mechanical, provides massive untapped potential for M2M technologies. Though M2M communications are primarily identified with cellular networks, the inability of cellular networks to offer coverage in all regions/locations increases the significance of satellite technology. For instance, terrestrial wireless networks currently cover only about 10% of the earth’s surface thus providing unimaginable potential for two-way satellite data links and satellite M2M. There exist immense opportunities for the technology in industries such as oil and gas, utilities, and transportation and distribution, wherein a large number of assets are deployed in remote locations with inadequate cellular coverage. Inconsistent cellular coverage in difficult terrains, such as, oceans, deserts, remote rural areas, offshore drilling sites, diamond mines, etc., provides a business case for satellite M2M, given that rugged mobile, mission-critical requirements requires superior and enhanced M2M (machine-to-machine) connectivity.
Future growth in the market largely hinges on the commercial proliferation of data-intensive M2M applications, such as, vehicle telemetry, fleet management, marine vessel tracking, energy management, container tracking and remote field service applications (remote worker/asset management comprising of additional communication capabilities, such as, exchange of workflow information, emails, electronic forms). Advancements being made in real-time delivery of complex information will also push up demand for faster satellite-based M2M services capable of delivering over 1000 byte messages in less than a minute. Demand for these services will accelerate further as companies begin to realize the financial and operational benefits of M2M communication. Growing sophistication of M2M applications, increased volume data generated by M2M devices including video or other data-intensive content, and the ensuing need for higher bandwidth infrastructure, are all poised to benefit the market for satellite M2M services.
In the next few years, technology driven declines in M2M equipment costs will help expand the installed base of M2M devices, which in turn will increase the need for satellite M2M services. Currently however, the market faces challenges manifested in the form of higher cost-per-byte of satellite communications than in comparison with cellular M2M communication and lack of awareness about the capabilities of satellite communications that skews consumer preferences towards WiMAX, cellular, and Wi-Fi technology alternatives.
As stated by the new market research report on Satellite Machine-to-Machine (M2M) Services, North America represents the largest market worldwide. Asia-Pacific is forecast to emerge into the fastest growing regional market with a projected CAGR of 18.5% over the analysis period. Growth in the region will stem from the expansion of M2M applications into energy metering, asset tracking, digital signage, factory automation, and medical, among others. Also, as monitoring and managing connected devices begin to top the priority list of enterprises, the need for efficient transport of collected data will spur demand for continuous, reliable and uninterrupted data communications, irrespective of geographic location. Under this scenario, satellite M2M services are poised to emerge as the greatest beneficiary.
Major players profiled in the report include General Electric Company, Geotab Inc., Globalstar Inc., Inmarsat Plc, Iridium Communications Inc., M2M Data Corporation, Orbcomm Inc., Qualcomm Inc., SkyWave Mobile Communications Inc., Thuraya Telecommunications Company and Wireless Matrix Inc., among others.
The research report titled “Satellite Machine-to-Machine (M2M) Services: A Global Strategic Business Report” provides a strategic review of the industry, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections by the following geographic markets – North America, Europe, Asia-Pacific and Rest of World.
Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications' website. View the report: Satellite Machine-to-Machine (M2M) Services: A Global Strategic Business Report.