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India M2M modules market to exceed $4.4B in 2020

Posted: 01 Jul 2015     Print Version  Bookmark and Share

Keywords:TechSci Research  M2M module  security  supply chain  automotive 

The latest TechSci Research report titled "India Machine-to-Machine (M2M) Modules Market Opportunities & Forecast, 2020" has predicted that the M2M modules market in India will cross $4.4 billion by 2020. The market research firm stated that over the last few years, India has become 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. M2M 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 favourable government initiatives such as smart cities, smart metres, etc. is projected to drive rapid growth in India 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 labour 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 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," said Karan Chechi, research director with TechSci Research.





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