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Communications service providers (CSPs) are among the top players vying for a share of the addressable IoT market. Top CSPs, such as AT&T and Vodafone, have developed new technology, business frameworks and competencies. Many other CSPs have seen significant growth in machine-to-machine (M2M) connections over the past few years.
More than 30 billion connected devices will be in use by 2025, of which cellular IoT—and Low-Power Wide-Area (LPWA) modules are forecast to account for about 7 billion units, according to Machina Research.
As the connectivity requirements for IoT have become more complex, investment by CSPs has increased. The total M2M revenue opportunity is forecast to reach USD1.6 trillion in 2024, up from USD500 billion in 2014, a CAGR of 12%, according to Machina Research. This includes devices, connectivity and application revenue, with the majority of the revenue coming from devices.
This paper explores the use of cellular technologies for connecting billions of devices in the premise of internet of things.