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Global M2M Services market to grow at a CAGR of 21.35 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing adoption of M2M services by individual users and enterprises. The Global M2M Services market has also been witnessing the increasing usage of satellite M2M services. However, the lack of coordination among the members of the fragmented value chain could pose a challenge to the growth of this market.
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Satellite M2M services are gaining momentum in emerging geographies such as the MEA region, Latin America, and Southeast Asia, mainly because the penetration of low-cost wireless networks is very low in these geographies. In addition, there has been a rapid increase in the demand for M2M services in remote areas across the globe. The use of M2M technology is extremely useful for applications, especially on ships. M2M can help in applications such as tracking fishing vessels and dangerous cargos and monitoring offshore wind farms. The Defense sector is also using satellite M2M services to track combat assets. Several terrestrial satellite providers such as Orbcomm Inc., Inmarsat plc, and Iridium Communication Inc. are developing innovative M2M terrestrial networks for offering services to communication providers. Hence, the increased usage of satellite M2M services is a new trend that is expected to boost the growth of the market over the next few years.
According to the report, one of the main drivers in this market is the increased adoption of M2M services by individual users and enterprises. Nowadays, people across the globe are increasingly using mobile devices such as smartphones, tablets, and PDAs for personal and official purposes. Since these mobile devices are intelligently connected with advanced M2M modules, smart sensors, and software, individual users are increasingly adopting M2M services.
Further, the report states that one of the major challenges in this market is the lack of coordination among the members of the fragmented M2M value chain. The M2M value chain includes manufacturers, connectivity providers, application service providers, service providers, sellers, and re-sellers. Although this extensive value chain supports M2M for its economic growth, the coordination among the value chain members is complex. The interoperability at the level of the hardware, software, and user interface is a major challenge for the M2M market. This adverse effect of the lack of coordination in the value chain prevents operators from offering complete solutions to end-users.
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