Ahead of Telecoms Tech World next week, James Monighan—chair of the M2M track at the event—discusses the current state of the M2M market, the central role of customer experience, and why raw coverage numbers don’t tell the whole story.
The machine-to-machine (M2M) ecosystem is increasingly shaping everyday life as it evolves into the Internet of Things (IoT). Industry forecasts tout impressive growth: Strategy Analytics predicted 2.9 billion M2M connections by 2022, while other analysts project strong compound annual growth. These headline figures are attention-grabbing, but without context they can be misleading.
Monighan, formerly head of M2M strategy at Telefónica and now an interim consultant and advisor in the space, says there is a place for market-sizing reports, but he believes the most valuable narratives focus on customer experience and real-world outcomes.
“The market is growing very rapidly, but there’s a danger in only chasing the numbers,” he explains. “If you want to be profitable, you need to deliver great services. If your objective is to deliver great customer experiences, the profits will follow.”
He emphasises the importance of practical learning and openness: “The more people share stories about where they’ve been successful—and where they haven’t— the better. Honest case studies help the industry collaborate and build a sustainable future.”
This customer-centric view mirrors a broader shift in how leaders talk about connected technology. At Dreamforce, Salesforce CEO Marc Benioff framed a similar idea as the “internet of customers.” Monighan prefers the phrase “internet of meaning,” capturing the idea that connection counts for little without tangible value.
“The number of connected things isn’t a very meaningful measure on its own,” he says. “Cellular connectivity matters, but devices will use many different technologies. What truly matters is the value and meaning delivered to customers—people don’t want connectivity for its own sake.”
Monighan also sees a strategic shift in industry thinking, away from narrow vertical solutions toward broader, horizontal platforms that enable interoperability and data sharing.
“You hear more about horizontal platforms and horizontal plays, which I think shows the market maturing,” he notes. “This approach supports the Internet of Things or the Internet of Everything—sharing data across devices and people to create powerful, integrated experiences.”
As Telecoms Tech World approaches, Monighan highlights the event’s emphasis on informative, educational, and innovative content. He’s particularly interested in the evolving dynamic—often described as ‘co-opetition’—between telecommunications operators and platform providers.
“How telcos and platform companies collaborate and compete will be fascinating to watch. That balance will shape the services and experiences customers receive,” he adds.
In short, Monighan argues that industry success will come less from chasing scale metrics and more from building services that deliver clear, valuable experiences for customers. Sharing practical lessons—both successes and failures—will be essential to maturing the ecosystem and unlocking the true promise of connected technologies.
James Monighan is speaking at the M2M track at Telecoms Tech World, 26–27 November at Olympia, London.