Telecoms to boost revenue with enterprise IoT monetisation | VanillaPlus
Image by FreepikA new study from Juniper Research has predicted operators will find revenue growth through the monetisation of enterprise markets, such as cellular IoT, to capitalise on the USD $900 billion global telecommunications market this year.
Despite their investment in 5G networks, operators have struggled to monetise the widespread adoption of 5G by consumers. Failing to gain a price premium over 4G services has been a key issue.
The IoT API opportunity
Turning to enterprises, the report recommends operators invest in cloud technologies that enable new services such as CAMARA-compliant APIs to better manage IoT services over networks. An API will enable third-party software to communicate with specific applications present in telecommunications networks.
IoT connectivity – A $23bn market
5G is the key enabling platform for operator growth in the IoT market; owing to the high degree of software‑defined processes allowing the swift deployment of APIs. However, to maximise this growth, operators must provide APIs that enable real-time management of devices, remote configuration and integration with third-party solutions. This will position operator networks well to capitalise on the opportunity for IoT connectivity revenue; a market forecast to grow from $10 billion in 2023, to $23 billion by 2028.
Benjamin Clark, a research co-author said: “Despite the investment into new technologies, strategies to monetise networks via mobile subscribers have fallen short. Future business models must create value for enterprises and new revenue streams that monetise via enterprise activities.”
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