The global cellular M2M market will nearly quintuple from over 620 million connections in 2019 to 3 billion connections in 2024, according to a new report by global tech market advisory firm, ABI Research. While connection revenues will double to $32 billion over the forecast period, these revenues will account for just 14% of all cellular M2M value-added services revenues in 2024. To capture greater share of the M2M revenue opportunity, global operators must expand their horizontal capabilities, partner with vertical specialists, and move up the value stack.

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