How is IoT transforming the telecom industry
Digital transformation became a "buzzword" after the pandemic challenged different sectors to sustain. Every industry was gearing up for a significant change to stay afloat. One of the technologies that skyrocketed particularly during this time was the "Internet of things," or what we prefer to call "IoTs."
Like other industries, the telecommunication industry is also evolving with the Internet of Things. It's no longer a novelty that it used to be until a few years ago. According to a renowned survey, the IoT Telecom services market is predicted to grow to around 22.57 billion by the end of 2023.
This is because major players like AT&T Inc., Verizon Communications, Aeris, Vodafone, T-Mobile, Huawei Technologies, and much more globally are pushing the IoT telecom services immensely. Moreover, the growing demand for better connectivity is further propelling the industry more than ever.
In fact, the rise of IoT is helping the operators to introduce revenue and generate new value by improving the functionality and performance of products. Is that all? This article has rounded up different ways how IoTs are making the lives of providers and end-users comfortable.
Ways IoTs Are Helping Transform the Telecom Industry
IoT products and services added value is beneficial since the telecom networks are moving towards 5G networks. The IoT platforms can be used as the foundation for organizations to create their IoT products/services.
Here's how it's helping providers!
Enhances capabilities to help data-hungry consumers:
Our personal lives are entirely revolving around smartphones, smart TVs, smart home appliances, and many more technologically enabled devices.
The business world reaps tons of benefits with IoTs talking to each other. It can be anything from controlling giant machines or analyzing big data collected by many devices. One can even get access to a wealth of information, not locally but internationally as well.
Expands the universe of telecommunications:
The telecommunication industry played a huge role in IoT technology transformation. Many global leaders suggest that IoT technology will drive further expansion. For instance, the hands-free convenience of Alexa taking orders for services or products via smartphone or TV, delivering items through Amazon drones, arranging payments through consumer's banks is helping streamline a series of actions with ease and comfort.
Improves monitoring of smart devices: The telecommunication industry is helping consumers connect to one another. But it is also helping businesses with remote branches or store locations to monitor them easily. In fact, around 30% of telecommunications activity monitors the intelligent devices we wear. Further, approximately 33% of telecommunications activity tracks different aspects of purchases/ leases.
In other words, it's helping to:
- Monitor telecom equipment or cell towers in real-time.
- Make adjustments to remote equipment to improve efficiency.
- Fix the problem after the IoT discovers it.
Improves telecommunication software and infrastructure: To coordinate with the new IoT devices, the industry is restructuring its infrastructure for better operations. Here's how!
The increased use of Low Power Wan (LPWAN) is driving worldwide IoT connectivity. In fact, on successful application, this technology can resist interference and avoid collisions when traffic is high. So, all in all, it will improve the signal-to-noise ratio.
- Since the telecommunications industry uses all cell towers and other valuable equipment, smart IoT devices will help identify any interference. And that too in real-time.
- With so many regions prone to earthquakes, extreme weather conditions, IoTs can help with proactive measures that can prevent damage in case of an unprecedented situation.
Here are a few startups making a change in the telecom industry with their innovative IoT solutions.
- FiSens: It is a German startup. They are using a sensor system that measures the strain, temperature, and pressure. In fact, it also helps with electromagnetic interference. Thus, allowing the telecom industry to establish a conducive environment for their services or solutions to work.
- IoT Telecom: It is a French startup that produces IoT products that help with voice and data in the telecom sector. It helps with monitoring, quickly resolving network issues that improve customer retention in the telecom industry.
- Gwagenn: It is yet another French startup that is providing wireless technologies in the telecom industry.
- Mica Energies: This is a US-based startup. They provide smart IoT dashboards and charging solutions using far-field technology.
- Altaneos: It is a Belgian startup. They are providing customizable sensor-based solutions.
Final Takeaways: IoTs for Telecom Improving end-user experiences
The Telecom industry isn't about latency, slower networks anymore. The pandemic helped the companies to look around the bend to survive the evolving digital landscapes. With the new age technologies impacting many industries, including telecom, one can expect the following opportunities in the coming future.
- Improved customer satisfaction: It helps to collect data in real-time. Thus, assisting providers in making the best decisions that will positively impact the customers.
- Cost-effective and flexible services: It helps collect data, which allows providers to create a platform where they can transfer information to the cloud through IoT.
- Build new business models and revenue streams: As IoT progresses, you can expect a variety of business models like Iaa, data package sales model, PaaS, SIM card management services, SaaS, BaaS, and so on.
For instance, Huawei analyzed and evaluated many models and suggested using:
- Connection and cloud services for organizations with a strong network and minimal IoT experience.
- Platform provider for the operators with ecosystem capabilities.
- Solution integrator for companies with a strong network, IT credibilities, and more.
- Smart cloud operation management solutions: With the growth of IoT, the need for data is growing. To manage this data, one can expect cloud infrastructure in the coming years.
In short, one can expect many innovative solutions in the coming years that will completely transform the telecom sector for good. Also, with IoTs making an entrance into the lives of millions of households already, it won't be long until the telecom industry reaps the benefits of modifications as per the changing trends.
So, what type of innovation will you include in your organization? How will IoT change or transform the telecom industry in the foreseeable future?