Juniper Research says the forecast increase in M2M connections — a growth of 165% over the five years — is being driven by embedded SIM adoption.
And according to the Juniper forecast remote provisioning and innovative anti-fraud measures enabled by embedded SIM technologies (hardware modules built directly into M2M devices) will drive adoption of M2M services in key sectors including automotive, smart cities and connected agriculture.
The new research also found that adoption of eSIMs will grow 350% over the next 5 years, exceeding 1 billion eSIMs globally by 2024.
Research author Elson Sutanto said: “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,” Sutanto said.
The research also found that 5G’s impact on the M2M market will be limited over the next 5 years, forecasting that only 15 million 5G connections will be in use by 2024, after initial commercial network launches this year.
The research also 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.
And 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, Juniper 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.