Approximately 2.7 million cellular M2M terminals were shipped globally during 2015 according to a new research report from the M2M/IoT analyst firm Berg Insight. Growing at a compound annual growth rate (CAGR) of 16.1 percent, this number is expected to reach 5.7 million in 2020.

“North American and Asian vendors dominate the global cellular M2M terminal market”, said Jonas Wennermark, IoT/M2M Analyst at Berg Insight.

Cradlepoint, Sierra Wireless and Digi International are the largest vendors in North America, while SIMCom is the main manufacturer on the Asian market. Combined, these four vendors generated close to US$ 290 million in revenues from M2M terminal sales during 2015.

“A large number of small and medium-sized vendors are active on the European market, while the North American market is dominated by a handful of major vendors, largely due to barriers in the form of carrier certifications required for cellular devices in the region”, concluded Wennermark.