Delivering on the Promise of IoT
Mark Collins explores the role of Telcos in leveraging IoT to drive efficiencies and new revenue streams for enterprises
The growth of the Internet of Things (IoT) is astounding. 127 new devices are connected to the internet every second and the number of IoT devices is set to almost triple from 8.74 billion in 2020 to more than 25.4 billion in 2030. The rapid roll-out of 5G will continue to drive this growth, with companies predicted to invest up to $1.1 trillion in IoT by 2023. We’re seeing more enterprises leveraging IoT as a true enabler, using it to increase efficiencies, gather insights, or build new business models and revenue streams.
So, what does all this mean for the telecommunications sector? It certainly represents a huge opportunity, a fact that hasn’t gone unnoticed by the industry, with nine out of ten senior Telco executives believing that IoT growth is critical to their business. But the key challenge for Telcos is to ensure that they’re ready for what lies ahead. This means being prepared to address the low costs required to serve IoT devices and having the ability to scale on-demand as the number of devices increases exponentially. Long gone are the old ways of building a solution infrastructure with a three-to-five-year sizing in mind. As many enterprises have done over the last year, the Public Cloud is the way to go in order to capitalize on market opportunities.
While many operators have talked up IoT use cases, focusing on high-value opportunities such as healthcare and connected cars, there is going to be a long list of other IoT opportunities that will have a significant need for lower-cost devices, lower cost of connectivity, and low power usage. These same opportunities will also need the capabilities to enable developers and small businesses to innovate, without having to go down the route of often time-consuming one-to-one engagement with their Telco’s wholesale department.
This is where the right partner comes into play, a partner which will work alongside Telcos to make this a lower cost to serve, coupled with a greater self-enabled user experience for the log scale growth that could come from IoT opportunities.
What’s needed is a useful, enabling solution that enterprises want to consume, a solution that’s created by the splicing together of key capabilities. Here at ZephyrTel, one key area of focus is the combining of our product capabilities into a purpose-built system that will make large-scale, low-cost IoT a reality. For example, bringing together mobile messaging, device management, and IoT scale charging and billing. What results is an end-to-end solution that adds real value to an operator’s core network, while at the same time enabling operators to make full use of the public cloud to get access to these solutions not only for their own benefit but for the benefit of the customers they aim to serve too.
Working with the right partner, Telcos can leverage the full potential of IoT, adding real value to their core network. By using the power of the public cloud to address revenue expansion for lower value IoT opportunities, it’s possible to drive efficiencies and open up new revenue streams for enterprises, successfully delivering on the bigger promises of IoT.
For more information on how ZephyrTel can help you drive efficiencies and new revenue streams, contact Mark Collins at firstname.lastname@example.org.