Global M2m Network Security Market To Grow At A Cagr Of 26.27% During The Period 2017-2021

Summary

Orbis Research Presents Global M2M Network Security Market 2017-2021 has been prepared based on an in-depth market analysis with inputs from industry experts.

Description

Latest Research Report – Global M2M Network Security Market 2017-2021

The Following Companies As The Key Players In The Global M2m Network Security Market: Cisco Systems, Gemalto, Kore Wireless, Numerex, and PTC (Axeda).

Other Prominent Vendors in the market are: Digi International, EUROTECH, NetComm Wireless, Netop, Novatel Wireless, Option, SIMCom Wireless Solutions, Systech, Telit, and Ventus.

Commenting on the report,“The latest trend gaining momentum in the market is increased demand for M2M in consumer electronics. M2M systems were mainly used by businesses and public organizations, but now they are used more widely in smart homes, different fitness gadgets, for tracking goods and assets, and in the entertainment sector. As new technologies and IoT ecosystem evolve, gadgets and devices will be affordable for everyone. However, the systems are still not very extended for mid-market consumers. IoT allows entertainment gadgets to be constantly connected to the Internet, which means that the users can access all types of media and up-to-date content.”

According to the report, one of the major drivers for this market is increase in number of connected devices. By 2019, the number of connected devices, including portable navigation devices, media players, and imaging devices with cellular connections, is expected to reach approximately 448.04 million units. These devices are connected to each other through advanced M2M modules, smart sensors, and software for entertainment, personal, and official applications. An increase in the number of devices makes it increasingly difficult to monitor, manage, and maintain. M2M network helps the end-users to simplify the management and maintenance of portable devices, resulting in the growth of the M2M network security market for efficient data transmission.

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Further, the report states that one of the major factors hindering the growth of this market is technical defects and related high costs of M2M network security solutions. The lack of accuracy of the M2M network security solutions is a major challenge that affects the profits of the vendors. Technical defects, server errors, and other malfunctions caused by hacking are some of the major issues faced by the vendors. Therefore, to ensure low error rate and high accuracy, vendors must conduct a number of trial runs before introducing M2M network security solutions in the market. This increases the cost of the products restricting their adoption among price-conscious end-users such as SMEs. It is therefore difficult for vendors to maintain a balance between accuracy and the price.

 

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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