M2M connections to exceed 1.6bn by 2024, driven by embedded SIM adoption says Juniper Research

A new study from Juniper Research has found that the global number of cellular M2M connections will reach 1.6 billion by 2024; rising from 596 million in 2019. This is a growth of 165% over the next 5 years. It forecasts that remote provisioning and innovative anti-fraud measures enabled by embedded SIM technologies will drive adoption of cellular M2M services in key sectors including automotive, smart cities and connected agriculture. Embedded SIMs, or eSIMs, are hardware modules built directly into M2M devices.

Over 1bn eSIMs in operation by 2024

The new research, M2M: Key Verticals, Technology Analysis & Forecasts 2019-2024, found that adoption of eSIMs will grow 350% over the next 5 years; exceeding 1 billion eSIMs globally by 2024. It urged eSIM vendors to add modules that support emerging technologies, including 5G and low power M2M networks, as soon as possible to increase adoption.

Research author Elson Sutanto remarked, “eSIMs will continue to be essential in accelerating the adoption of M2M services. Offering the eSIM standard across all cellular technologies will maximise the technology’s value across all M2M sectors”.

5G to represent only 1% of global M2M connections by 2024

The research also found that 5G’s impact on the M2M market will be limited over the next 5 years. It forecast that only 15 million 5G connections will be in use by 2024, after initial commercial network launches this year. The research anticipated that the automotive sector would be the primary industry adopter over the next 5 years; accounting for 70% of 5G M2M connections by 2024.

The research forecasts that the high cost of 5G and end users’ familiarity with established cellular networks will lead to initial hesitancy in adoption. In response, it urged M2M service providers to ensure that their services fully exploit the advanced capabilities of 5G technology, such as network slicing, in order to migrate users to 5G networks. Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

For more insights on M2M, download our free whitepaper: How eSIMs will Disrupt M2M Business Models.

Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow

RECENT ARTICLES

5th Edition Connected Africa announces Telecom Innovation & Excellence Awards 2024

Posted on: April 19, 2024

The International Center for Strategic Alliances (ICSA) has announced the 5th Edition Connected Africa- Telecom Innovation & Excellence Awards 2024, set to be held on 22 May 2024 in Johannesburg, South Africa. Under the theme “Building a Connected Global Economy,” the summit aims to influence the telecom in Africa. With a focus on fostering forward-thinking

Read more

Facilio launches refrigerant tracking and leak detection software

Posted on: April 19, 2024

Property operations software firm Facilio has announced the launch of its ready-to-deploy refrigerant tracking and leak detection software solution. This is meant for all grocery and convenience store operators who want to implement an automatic leak detection system to identify and mitigate potential refrigerant leaks to achieve 100% compliance.

Read more
FEATURED IoT STORIES

What is IoT? A Beginner’s Guide

Posted on: April 5, 2023

What is IoT? IoT, or the Internet of Things, refers to the connection of everyday objects, or “things,” to the internet, allowing them to collect, transmit, and share data. This interconnected network of devices transforms previously “dumb” objects, such as toasters or security cameras, into smart devices that can interact with each other and their

Read more

The IoT Adoption Boom – Everything You Need to Know

Posted on: September 28, 2022

In an age when we seem to go through technology boom after technology boom, it’s hard to imagine one sticking out. However, IoT adoption, or the Internet of Things adoption, is leading the charge to dominate the next decade’s discussion around business IT. Below, we’ll discuss the current boom, what’s driving it, where it’s going,

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more