In 2023, Japan had 44.512 million M2M/embedded mobile cellular subscriptions. From 2024 to 2028, the number of these subscriptions is forecasted to steadily rise. We expect the subscription numbers to increase year-on-year by approximately 6.7% in 2024, 6.6% in 2025, 6.2% in 2026, 5.8% in 2027, and 5.4% in 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is projected to be around 6.1%.

Future trends to watch:

The integration of 5G technology, which is likely to boost M2M connectivity capabilities and adoption rates.
The growing emphasis on IoT in various industries such as healthcare, manufacturing, and logistics, driving demand for M2M subscriptions.
Regulatory developments and government initiatives aimed at fostering digital transformation across sectors.