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

Life Lessons: Rock star to resistors to robotics

Posted on: June 4, 2020

A love of guitars led Tom Canning indirectly to the Internet of Things and his role as head of IoT and Devices at Canonical. Here, he tells IoT Now how his imagination was fired up lately by an enhanced computer vision use case, he shares about his worst boss, and the importance of listening to

Read more

Trusted Connectivity Alliance grows and strengthens across SIM ecosystem

Posted on: June 4, 2020

Trusted Connectivity Alliance (TCA), a global, non-profit industry association working to enable a secure connected future, has welcomed Arm, NXP and Qualcomm to the organisation as its latest members. Linxens and Workz Group have also joined as members in 2020.

Read more