At 6.4 billion, the number of IoT devices, which will be connected to mobile networks, is expected to launch by 2029. According to a Berg Insight report, these IoT devices are expected to generate an annual revenue of $ 22.4 billion.

Berg Insight: Rapid increase in IoT connections, with China dominating

This perspective enhances – as this study points out – the strategic role of mobile connectivity in digitizing industries, cities and services worldwide. IoT, from energy meters and vehicle fleets to agricultural monitoring and “smart” cities, is already shaping a new digital landscape – and mobile networking is its spine.

The findings of the same report show that revenue from the global IoT connectivity market via mobile networks amounted to $ 14.2 billion in 2024, increasing a 12% increase over the previous year. According to the latest report by Berg Insight, a specialized investigation company for the purchase of the Internet of Things (IoT), despite the increase in total revenue, the average monthly performance per user (ARPU) decreased by 5%, reaching € 0.33 per connection.

It should be noted that IoT revenue today accounts for 1% to 4% of total service revenue for the largest telecommunications companies in the world.

China’s dominance

At the end of 2024, the top ten mobile providers managed a total of 3.3 billion active IoT connections, accounting for 86% of 3.8 billion total connections. China Mobile stands out by difference, as it holds the first place in the world with 1.42 billion connections, followed by China Telecom (628 million) and China Unicom (625 million).

In the West, Vodafone is the leader, taking fourth place worldwide with 204 million IoT connections. Following is AT&T with 143 million connections in fifth place, while Deutsche Telekom and Verizon record from 56 to 60 million each. The top ten is completed by KDDI (49 million), Telefónica (45 million) and Orange (37 million).

Increase of connections

The rate of increase in connections for large providers ranged between 5% and 26% per year, demonstrating the continued dynamics of the ecosystem.

In addition to the big providers, Io Managed Service Providers, namely IoT managed services, who serve mainly as full virtual mobile providers (MVNOS), also play an important role. These companies are based on roaming and local access agreements, and also provide services with added value in selected market sectors.

The most famous players include 1Global, 1ction, Kore, Wireless Logic, Telit Cinterion, Soracom, Flolive and others. Overall, providers managed over 200 million connections at the end of 2024, with revenue of € 1.8 billion.