Cellular machine-to-machine (M2M) / Internet of Things (IoT) services revenue in Thailand is set to increase at a compound annual growth rate (CAGR) of 1.3% from $75 million in 2025 to $81 million in 2030, driven by 5G advancements,  accelerated enterprise digitization initiatives, and a steady rise in IoT deployments across major sectors in the country, according to GlobalData, a leading intelligence and productivity platform.

GlobalData’s Thailand Mobile Broadband Forecast (Q1 2026) reveals that M2M/IoT subscriptions in the country are set to increase at a CAGR of 2.6% between 2025 and 2030, and their share of total mobile subscriptions is expected to grow up to 12% by the year end 2030. The expanding 5G network, which has already achieved about 95% population coverage, will enable widespread deployment and adoption of M2M/IoT connectivity services in the country over the forecast period.

The government’s push for smart infrastructure including smart cities, smart buildings, smart grids and smart manufacturing facilities using advanced technologies like IoT will also favor growth in the cellular M2M/IoT market in the country. For instance, in November 2025, Thailand’s Digital Economy Promotion Agency (depa) stated that it plans to increase the number of smart city areas from 37 to 105 by 2027, including the application of digital technology in 45 communities and a 5G Ambulance project to upgrade emergency services.

Kantipudi Pradeepthi, Telecom Analyst at GlobalData, comments: “Expanding M2M/IoT use cases in industries like manufacturing, transportation & logistics, utilities, healthcare, and agriculture, supported by telcos’ M2M/IoT connectivity plans tailored to these applications, will additionally lend traction to the M2M/IoT market in the country over the forecast period.”

For instance, AIS, through its business division, provides M2M and IoT solutions that focus on key vertical markets and applications like vehicle tracking, video analytics, smart mobility, telematics, and smart transportation.

Pradeepthi concludes: “True Corp is also making significant investments in 5G and IoT with a strong focus on tapping enterprise opportunities. The operator has expanded its 5G network footprint to serve major business hubs and industrial zones, ensuring high-speed, reliable connectivity solutions tailored to enterprise needs across Thailand. This rising demand for IoT solutions will reshape the mobile landscape and presents telcos with opportunities for revenue growth.”