Cellular machine-to-machine (M2M) subscriptions are forecast to reach 24.9mn in Latin America in 2016 compared to 4.1mn this year, Pyramid Research research manager Julian Morrison told BNamericas.
Morrison said the cellular M2M market in Latin America will move US$319mn in 2016 compared to US$51mn in 2011.
"For the Latin American market, we currently see fleet management applications as the largest segment, representing over 40% of subscriptions in 2010. However, we expect regulations in the huge Brazilian market will drive adoption of telematics applications in the region," Morrison said.
Pyramid Research forecasts that worldwide, the volume of cellular M2M subscriptions will increase almost fourfold between 2010 and 2016, from 72mn to 282mn. These figures are equivalent to 1.4% of all mobile subscriptions in 2010, and increasing to 3.6% in 2016.
According to the consultancy, there are significant differences in adoption regionally, with mature, developed markets leading the way, and many emerging markets still at a very incipient stage.