Thailand’s IoT revenue growth trails subscription uptake, GlobalData says

IoT subscriptions to reach 12% of mobile base by 2030 as adoption outpaces revenue.

Thailand’s cellular machine-to-machine (M2M) and Internet of Things (IoT) services revenue is forecast to grow to $81m in 2030 from $75m in 2025, expanding at an annual rate of 1.3%, even as M2M/IoT subscriptions grow at a faster pace, according to GlobalData.

The firm’s Thailand Mobile Broadband Forecast for the first quarter of 2026 said M2M/IoT subscriptions are projected to rise at a 2.6% compound annual growth rate over the same period, accounting for 12% of total mobile subscriptions by the end of 2030.

GlobalData attributed the growth to Thailand's expanding 5G network, which covers about 95% of the population, alongside enterprise digitalisation and increased IoT deployments across industries.

The government's plans to expand smart city areas from 37 to 105 by 2027, including digital technology projects in communities and a 5G ambulance initiative, are also expected to support demand for IoT services.

"Expanding M2M/IoT use cases in industries such as manufacturing, transport and logistics, utilities, healthcare, and agriculture will support market growth over the forecast period," said Kantipudi Pradeepthi, Telecom Analyst at GlobalData.

Pradeepthi said rising demand for IoT solutions presents revenue opportunities for operators. AIS and True Corp are expanding enterprise-focused 5G and IoT offerings to tap that demand.