Thanks to the increasing use of “smart and intelligent” devices such as fitness trackers, smart thermostats, and driverless vehicles, the Internet of Things (IoT) has become more prevalent, making our lives smarter and more interactive. According to a report by Goldman Sachs, the IoT is expected to connect as many as 28 billion devices to the Internet by 2020, spanning across wearable devices, cars, homes, cities, transportation, oil and gas, healthcare, and the industrial internet.
Not Just Connectivity, Telecom Must Leverage the Most of IoT to Deliver Value-Based Services
The telecommunications industry is rapidly growing by providing enhanced connectivity solutions to various smart devices. This presents a significant revenue opportunity for telecom operators, as they combine connectivity, analysis, mobile, security, and cloud to support businesses.
As consumer data and connectivity requirements fluctuate with IoT and digitization advancements, it is crucial for telecom companies to redefine their business strategies, focusing on key offerings around IoT to maximize their position in the IoT value chain.
Hit the Bull’s Eye with IoT customized Offerings
- IoT specific price plans: Telecom players should create specialized price plans and provide connectivity tailored to IoT services to capitalize on the growing interest in IoT.
- Create information pools: Telecom providers can gather vast sets of data from IoT devices to gain business insights, predictive modeling, and build specific solutions.
- Device cloud for effective management: Telecom players need to actively monitor and manage connected devices using a device cloud platform, which can also be used by other industries and companies.
Protect IoT data with Blockchain
The growth of IoT directly impacts data security. Utilizing strong multiple layers of security, such as Blockchain, can protect data from cyber-attacks and ensure the safety of IoT devices and networks.
Blockchain technology allows device networks to protect themselves by forming consensus about normal behavior within a network and negating unusual activities.
Marry IoT and Contracts for ‘Smart Contracts’
Smart contracts define the rules and regulations of information sharing, automating obligations and providing transparency in data governance.
Partnership Is the Key to Success
The telecom industry needs to focus on delivering value-based services to customers and partners by partnering with solution providers and system integrators. Additionally, the telecom industry can offer specialized servers, routers, and more to meet the specific needs of industries like online gaming.
