The global Internet of Things (IoT) market size was valued at a USD of $544 billion in 2022 and is projected to grow from $662 billion in 2023 to $3,353 billion by 2030, exhibiting a Compound Annual Gross Rate (CAGR) of 26.1% during the forecast period, as presented by Fortune Business Insights™ in its report titled ‘Internet of Things (IoT) Market Size, Share & COVID-19 Impact Analysis’.
Additionally, Asia Pacific is one of the major growth engines of the global IoT market. According to IDC’s forecast, the IoT market in the Asia-Pacific region reached approximately $54 billion in USD in 2019 and is expected to grow to $126 billion by 2024, with a CAGR of 18.5%. In addition, North America and Europe are also important IoT markets. By 2030, approximately 23% of IoT devices will be located in Europe and 24% in North America.
With the rapid development of IoT, there is an increasing number of device cellular-based interconnections worldwide. Global SIM (Subscriber Identity Module) has become one of the key technologies for connecting these devices. As a leading global communications technology company, Syniverse has launched an innovative Global SIM product that provides excellent cellular connectivity solutions for the IoT industry and enterprises.
1. Syniverse Global SIM Provides Comprehensive Support for IoT Enterprises
1.1. Connectivity with Global Coverage
Syniverse Global SIM provides worldwide cellular connectivity, covering multiple operator networks and regions. This means enterprises can use one SIM card to connect their IoT devices in multiple countries and regions, without having to purchase and manage different SIM cards for each region. Such global coverage greatly simplifies the complexity of device deployment, management and improves the efficiency and flexibility of enterprises.
1.2 Secured and Reliable Connection
In addition, Syniverse Global SIM provides a secure and reliable end-to-end gateway connection and data encryption solution. Security is a critical point for IoT devices as they often involve the transmission and processing of sensitive data. With Syniverse Global SIM, businesses can ensure that communications between their devices and cloud platforms are encrypted and protected, preventing potential data breaches and security risks.
1.3 Flexible Data Plans and Pricing Models
Syniverse Global SIM provides flexible data plans and pricing models to meet the needs of different businesses. Enterprises can choose the appropriate data plan according to the needs of their IoT applications, whether it is billed by traffic or by time. This flexibility allows enterprises to better control and manage the connection costs of their IoT devices, avoiding waste of resources and unnecessary expenses.
1.4 Real-time Monitoring and Management
Syniverse Global SIM provides real-time monitoring and management capabilities, enabling enterprises to track the status, connectivity, and data usage of their IoT devices. Through a centralized management platform, enterprises can centrally monitor, configure, and troubleshoot all devices to improve device reliability and operating efficiency. In addition, enterprises can also get real-time data usage reports, to make more accurate business decisions. These functionalities can be integrated into the Enterprise management tools via a robust suite of Application Programming Interfaces (APIs).
1.5 Enhanced User Experience
Through Syniverse Global SIM products, enterprises can provide seamless and stable connections for their IoT devices and improve user experience. The device can obtain the best signal coverage around the world and maintain a stable connection, thus ensuring the normal operation of the device function and the timely transmission of data. This enhanced user experience helps enterprises establish a good brand image and gain the trust and loyalty of users. Syniverse provides multiple network coverage options per destination, allowing for a greater redundancy option.
2. Syniverse Global SIM’s Application to the IoT Industry
2.1 Logistics and Supply Chain Management:
By using Syniverse Global SIM, logistics and supply chain management companies can track the location and transportation status of goods in real-time on a global scale. They can manage and monitor logistics equipment on a global scale, ensure the safe transportation of goods, and provide accurate delivery time forecasts.
2.2 Smart City:
In a smart city, various devices and sensors need to be interconnected for effective city management. Syniverse Global SIM makes communication between different devices and sensors easy and reliable. For example, smart streetlights can be remotely monitored and managed through Global SIM, and automatically adjust brightness and energy consumption.
2.3 Internet of Vehicles:
Syniverse Global SIM can be used for vehicle tracking, fleet management, and vehicle diagnosis. After the vehicle is equipped with a Global SIM card, it can monitor the vehicle’s location, driving conditions, and maintenance needs in real-time. This is very helpful in improving fleet safety, reducing operating costs, and optimizing maintenance schedules.
2.4 Industrial Automation:
Machines and equipment in the industrial field require highly reliable connections for automation and remote monitoring. By using Syniverse Global SIM, plant and equipment managers can remotely monitor and manage various machines and equipment in real-time, reducing downtime and increasing production efficiency.
2.5 Agricultural Internet of Things:
Syniverse Global SIM can be used in the agricultural field to monitor and manage key parameters such as crops, soil moisture, and climate conditions. Farmers can remotely access and control sensors and equipment on the farm through mobile phones or computers to increase crop yields and reduce the waste of resources.
As an innovative connectivity solution, Syniverse Global SIM product provides connectivity enablement to IoT industries and enterprises. Its global connectivity, secure and reliable connections, flexible data plans and pricing models, real-time monitoring and management capabilities, and enhanced user experience enable enterprises to connect and manage their IoT devices more efficiently and securely. With the continuous development of the Internet of Things and the continued expansion of application scenarios, Syniverse Global SIM products will aim to play an increasingly important function in the IoT industry.
Cary Niu is from Beijing China. He began his telecommunication career in 2006 as a Technical Support Manager at Aicent Inc, after which, he joined Syniverse when Aicent was acquired by Syniverse in 2014 and served in the role of Product Manager overseeing Global SIM and Wi-Fi solution in 2017. Cary’s strong technical knowledge in telecom network and programing, as well as extensive experience in product management, business case analysis, and project planning and implementation have enabled him to successfully develop and manage world-class PaaS products and key valuable function components including service portal, billing system, and OTA management platform. Cary holds an MBA degree and a PMP certificate. In his spare time, he likes soccer, tennis, and cycling.