Welcome to the brand-new industry!
The Internet of Things (IoT) is a reality. In fact, according to IDC, the IoT opportunity is expected to be. $1.2 trillion dollars by 2022. Meanwhile it is estimated that only up to 15% of this will be network and telecom related revenues.
The Internet of Things in its simplest form turns everyday objects and devices into smart, connected objects and devices. Telecom companies and communication service providers have a unique opportunity to tell a story and play a pivotal role in the development and adoption of IoT.
The benefits of the IoT digital transformation services are geared around harnessing the data (from the connecting devices), performing analysis to extract insights which will drive actions and through those action the organisation will reduce costs, improve operations, customers engagement and drive further innovation.
It is expected, that in the next 5 years, the average person will be interacting with a connected device up to 5000 times/day. The majority of the data will be real time in nature and mainly driven by IoT services (95% of it).
It’s all about Communication!
The actionable side of this data will be in the form of reports, alarms and notifications and the bulk of it, in my estimation, would move through multi-channel rich communication. This will further boost Voice, SMS and Rich content traffic.
Looking at the Telco industry, the winners of the IoT race are those who jumped in and invested in connectivity early on and then used the traction gained to deliver scalable, data driven services. The IoT value added services (included and not limited to smart buildings, telematics and remote healthcare) are having a high impact on their customers live and their overall supply chain.
Customers across the industry are becoming more demanding and are looking for simplicity and value. They are looking for services that make their jobs and lives easier and this is what IoT services can deliver.
The majority of Telcos, either are not yet engaging with IoT, or they are purely concentrating on the connectivity element of the IoT stack.
This has left the door wide open for Telco service providers, OTTs and CPAAS companies to swoosh in and take part of the pie, by being the ones which will offer the IoT services to the market and create, new products and new revenue streams for their organisations. I call this the double whammy, as these companies will capture revenue from both the new IoT services offered and the boost from IoT on SMS, Voice and Rich communications.
The IoT and the Big Data
A couple very simple use cases for IoT services are adding smart tags (NFC, RFI) to items to authenticate and scan their location and limit loss; pressure and proximity sensors to track usage; GPS sensors to vehicles and moving items to track location and speed.
Manufacturers are adding smart sensors to their machines and components of their products so that they can transmit health status data back about performance, which allows them to proactively deal with problems.
IoT is helping enterprises access more data about their own products and their own internal systems, resulting to a greater ability to make changes faster.
Are you Ready?
IoT will deliver vast amounts of real time data and formalise Data-as-a-service. The questions for our telco friends is then: how ready are you to play a role in this vast economy?
Founder and CEO Apiro Data Ltd
Get in touch and let’s build something great together!
Nassia is a Digital Transformation Technologist with over 25 years of experience helping global organisations develop and grow.
Nassia helps businesses commercialise their digital transformation to drive operational efficiency and increase revenue through creative technology solutions with IoT, AI and Cloud services.
Nassia is the Founder and CEO of Apiro Data Ltd an End2End IoT solutions and platform company, enabling deployment, data collection, processing and visualisation to manage and monitor connected devices.
Apiro Data Ltd
Apiro Data Ltd, was founded Oct 2018 with the vision to take our clients on a journey from unconnected products to connected services.
At Apiro Data, we understand that transformation in the digital age is not always easy. Opportunities such us operational efficiencies, cost saving and innovation, come peppered with equivalent challenges, including limited knowledge base, upfront capital and business process integration.
Our role is to help companies, large and small, to win with IoT. We do that through our partner ecosystem and our End2End IoT platform Infinity Core, which enables deployment, data collection, processing and visualisation to manage and monitor connected, smart devices.