Today almost every M2M device includes a SIM card. The cost of procuring the SIM card for an M2M application, getting someone to physically put it in the SIM card slot and then verify the network connection usually costs upwards of $25. The advent of eUICC (eSIM) technology presents an opportunity to streamline the costs which should propel the IoT market. In this discussion, we look at the new opportunities that iSIM brings to the value chain and possible new business models and revenue streams the industry can benefit from. Ultimately, no single platform will be able to offer all features for all verticals in an IoT environment characterized by a “platform of platforms” approach, with open, interoperable platforms interacting with and complementing each other in a “system of systems” constellation and open ecosystem. Therefore, using easy-to-integrate and standards-based services is a key requirement as different players in the ecosystem build their business propositions.