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IoT connectivity management platform market to grow

IoT market research provider, Berg Insight, released new findings about the market for IoT connectivity management platforms (CMPs), a standard component in the value proposition from mobile operators and IoT MVNOs around the world. Market dynamics in the IoT CMP market have evolved in recent times as vendors focus on responding to the challenge of declining ARPUs for IoT connectivity services.

Early CMPs were developed at a time characterised by inflated expectations of the IoT market, which has led to incumbent vendors exiting the space, while others have had to rethink their product and pricing strategies, often involving tiered offerings and adding value-added services.

New investments are targeted at RSP (Remote SIM Provisioning) platform integrations, eSIM orchestration and connectivity management orchestration capabilities, machine learning-based analytics, security services and programmable network capabilities enabled by 5G.

Cisco is the largest IoT CMP provider globally. The company has a strong position in all major geographies and partnered with about 60 mobile operators worldwide at the end of 2024. The number of SIMs managed by the Cisco IoT Control Centre reached about 262 million.

Berg Insight believes that a number of trends will positively influence the IoT CMP market in the coming years. Firstly, IoT CMPs and value-added services can play a key role in helping mobile operators drive revenue in the enterprise market from their 5G network infrastructure.

Secondly, mobile operator groups’ increased consolidation of operations to key markets will lead to a growing number of independent mobile operators and thereby increase the addressable market for third-party CMPs.

Lastly, the new eSIM IoT specification, SGP.32, enables smaller mobile operators to use their existing SM-DP+ systems to offer eSIM services for the IoT market, though they will need to complement their offering with IoT CMPs. Until 2029, annual IoT CMP revenues are forecasted to grow at a CAGR of 12% from US$ 1,0 billion in 2024 to reach US$ 1,8 billion in 2029.

Download report brochure: IoT Connectivity Management Platforms and eSIM Solutions

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