The Internet of Things aka IoT for telcos along with the machine to machine technologies no longer remain simple novelties with their constant enhancement. The Digital Revolution has also effectively made them commonplace essentials in the Telecom industry.
Telcos are finally getting their chance to bounce back after several years of cannibalization of potential revenues by OTT players. With all these new and exciting revenue-building opportunities, IoT for telcos might have a unique opportunity to capitalize on their access to vast volumes of data.
Competitive Advantages of using IoT for Telcos
The heavy reliance on telecommunications providers by IoT serves the telecoms industry to benefit the most. The development of new mobile IoT apps and services have also contributed to the tremendous growth of mobile carriers. According to professional forecasts, IoT for telcos would potentially generate $1.8 trillion in income by 2026 for mobile network operators.
In fact, the constant increase in the number of digital natives living the ‘super-active’ lifestyle has actively created a huge demand for connected devices. With more than 20 billion connected devices worldwide, industry leaders like Comcast, AT&T, Vodafone or Verizon are starting to rely on Narrowband IoT for Telcos. This is mainly due to its low-cost comprehensive coverage and ability to create new telecom value-added services.
As a telecom firm, you just cannot go without depending on IoT for telcos in the modern-day digital world. However, the adoption of Saas, Baas and PaaS models can have a great contribution to the improvement of business operations and delivery of improved services.
Uses of IoT in the telecom industry
There are widespread benefits of using IoT for telcos since its use allows enterprises to develop a wider range of services based on their unique assets. The impact of using IoT services has already had major impacts in the healthcare sector and the automotive industry.
The main uses of IoT for Telcos include intelligent networks, data analytics, billing, CRM and cloud services for all kinds of existing industries.
Industrial Monitoring Systems
More than 87% of industrial companies are extending their usage of IoT for Telcos in order to produce better management of resources and equipment in real-time. CSPs can profit from using IoT for Telcos also by using their tailored network offers. Mobile was one of the first carriers to use Narrowband Internet of Things to help industrial clients capitalize on the value of data.
Smart Homes and Buildings
Presently, the most promising niche gaining major profits from using IoT for Telcos is Home Automation. The ever increasing demand for smart homes and the construction market plays a major role in this.
Telecoms are capable of providing exceptional mobile and network connectivity services to run all kinds of smart home mobile applications and real-time monitoring systems. Furthermore, relying on IoT for telcos can also improve traffic management, environment monitoring and waste management.
Shared Economy and Smart Cities
The deployment of 5G and Narrowband IoT services have created mutually advantageous public-private partnerships between CSPs and local governments, municipalities and universities. IoT for telcos is exhilaratingly crucial for the integration and digitization of urban infrastructure.
As of now, substantial numbers of Tier-1 telecom service providers like O2, AT&T, Telefónica, Deutsche Telekom, SK Telecom and NTT Docomo have started to supply IoT-based solutions to modernize cities.
Benefits of using IoT for Telcos Connectivity Services?
The use of the Internet of Things (IoT) for telco operators can turn out greatly beneficial as it helps in-
- Data Analytics
- Data Storage and Management
- PaaS and SaaS Solutions
- Asset Monitoring
In addition to these, using IoT for Telcos can also give you substantially higher network speeds and expanded bandwidth, low latency, increased revenues and new jobs all with increased power efficiency.
Future of IoT in the Telecom Industry
Implementation of IoT services and their development has promising prospects lying ahead. However, it firstly needs enough telecom operators, end-users and developers to gather the necessary expertise and experience. These investments can turn out majorly profitable in the long run with the constant development of technology.