The Internet of Things (IoT) ecosystem is undergoing significant transformation as connectivity management platforms (CMP) adapt to the evolving needs of businesses and the growing complexity of IoT deployments. With advancements in technology and increasing demand for streamlined, scalable solutions, the landscape of IoT CMPs is poised for rapid growth and innovation. This report sheds light on the current market dynamics, key players, and emerging trends shaping the future of IoT connectivity management, offering valuable insights into how third-party platforms and new technologies are redefining the industry.

The ResearchAndMarkets.com report estimates that total revenues for third-party IoT connectivity management platforms will grow at a compound annual growth rate (CAGR) of 12% from US$ 1 billion in 2024 to US$ 1.8 billion in 2029.

About 12% of all IoT SIMs were deployed on third-party IoT CMPs at the end of 2024, while about 7% of the installed base was deployed by IoT MVNOs. The remainder was managed via mobile operators’ in-house developed CMPs. Excepting China, the share of IoT SIMs managed via third-party CMPs was substantially higher, accounting for 31% of all IoT SIMs. Annual revenues from the sales of third-party IoT CMPs grew 8% to reach an estimated US$ 1 billion in 2024. Until 2029, annual IoT CMP revenues are forecast to grow at a CAGR of 12% to reach US$ 1.8 billion in 2029.

Market dynamics in the IoT CMP market have evolved in recent years as vendors focus on responding to declining ARPUs for IoT connectivity services. Early CMPs were developed at a time characterized by inflated expectations of the IoT market, which has led to incumbent vendors exiting the space. In contrast, others have had to rethink their product and pricing strategies, often involving tiered offerings and adding value-added services. New investments are targeted at remote SIM provisioning (RSP) platform integrations, eSIM orchestration and connectivity management orchestration capabilities, machine learning-based analytics, security services, and programmable network capabilities enabled by 5G SA.

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 with the Cisco IoT Control Center reached about 262 million. Aeris ranked as the second largest IoT CMP vendor with 28 mobile operator partners and 84 million connected devices at the end of 2024. The company took over the loss-making IoT business of Ericsson in early 2023 and has since the acquisition successfully managed to modernise and streamline operations while merging its legacy platform and the IoT Accelerator into a single platform. MAVOCO has emerged as a significant player in recent years, with more than 10 mobile operator partners at the year-end. MAVOCO’s IoT CMP is cloud- and core-agnostic, allowing mobile operators to utilise existing infrastructure to cost-effectively address IoT customers globally. Other IoT CMP vendors with a meaningful number of IoT CMP deployments are Comarch, Nokia and Vodafone. IoT CMPs are also a key component in the value proposition from vendors such as 1NCE, 1oT, emnify, Eseye and floLIVE, which operate as technology providers for mobile operators, as well as IoT MVNOs.

CMO Platforms Emerge to Streamline IoT Connectivity Management

The fragmentation of the IoT CMP landscape has given rise to a new type of product category called connectivity management orchestration (CMO) platforms, which ride on top of IoT CMPs through API integrations, pioneered by vendors like IoTM Solutions and Simetric. Several IoT CMP vendors and IoT MVNOs have also introduced CMO capabilities. AT&T is an example of a mobile operator that have fully embraced the CMO concept and announced, together with Simetric the introduction of the IoT Console Single Pane of Glass in November 2024. Enea is another example of a vendor that provides adjacent products. Its IoT CCS service works in concert with existing IoT CMPs and enables mobile operators to offer a multi-tenant, private APN service to their enterprise customers.

Uptake in the IoT market has been slow compared to the adoption in the consumer market, as solutions based on the eSIM M2M specification, originally published in 2013, have not met the intended goals of enabling widescale adoption of remote SIM provisioning and eSIMs. After the publication of the new eSIM IoT specification SGP.32 in 2023, eSIM solution providers are now gearing up for a new adoption cycle of solutions based on the specification. New deployments benefit from the large existing installed base of SM-DP+ systems, which will be used for both consumer and IoT eSIM services. The development of eSIM solutions for the IoT market has been driven by incumbent SIM providers such as Thales, Giesecke+Devrient (G+D), and IDEMIA, as well as newer entrants like Kigen. The shift to eSIM has attracted a large number of other players into the space. With the transition to SGP.32, vendors like Redtea Mobile and Monty Mobile, which were previously mainly active in the consumer eSIM market, have also started to address the IoT market. The report estimates that roughly 10% of the global installed base of cellular IoT devices used an eSIM at the end of 2024.

Final thoughts

The IoT connectivity management market is entering a transformative phase, driven by the rise of third-party platforms, advancements in eSIM technologies, and the integration of automation and analytics. The adoption of connectivity management orchestration (CMO) platforms reflects a need for unified, scalable solutions in a fragmented market.

With the SGP.32 specification accelerating eSIM adoption, vendors are poised to tap into both consumer and IoT markets, fostering technological convergence. As IoT expands, companies that deliver cost-effective, innovative solutions with seamless management capabilities will lead the next wave of growth in this evolving ecosystem.