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This report presents and discusses the global and summary findings of Ovum’s Cellular Machine-to-Machine (M2M) Forecast: 2016–21, published in December 2016.


  • The number of cellular M2M connections will increase to 733 million by 2021. At the same time, annual M2M revenues will grow by a CAGR of 14%, to $67bn.
  • MNO-specific M2M revenue indicators remain scant; there is a great range between the highest and lowest reported MNO M2M ARPC values. Ovum has developed three MNO M2M service revenue forecast scenarios, reflecting MNO success in "ascending the value chain" to accrue greater value from four service layers: network, managed connectivity, application development, and integration.
  • Some commoditization will occur (especially of connectivity) and is necessary in order for M2M services to propagate with enterprises. Connection growth won’t quite offset value decline, but revenue will still increase.

Features and Benefits

  • Explains cellular M2M connection and cellular M2M service revenue growth from 2013 to 2021 globally.
  • Assesses the MNO cellular M2M service revenue opportunity, average revenue per connection (ARPC), as well as MNO connection and revenue penetration globally.
  • Identifies critical splits in global M2M service revenues by service layer and M2M connection segmentation by industry, region, technology, and MNO type.

Key questions answered

  • What is the potential for cellular M2M connection and revenue growth?
  • How much value can wireless carriers take from the cellular M2M market?
  • How does the cellular M2M market break down by service layer, region, industry, technology, and MNO type?

Table of contents


  • Introduction
  • Download 1: M2M Forecasts 2016–21: Global Summary and Key Market Drivers

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