For a long time, IoT platform has been used as a proof of concept for many business ventures. But it has only played a small role up till now. Not anymore though! With constant evolution of technology, especially in computing horsepower, IoT data connectivity and cloud computing, IoT development is taking place at a phenomenal rate. With nearly 10 billion IoT sensors and devices in 2020 (which are growing as we speak), IoT is not too far off as a real business force.
The Value of IoT for Telecom Operators
Telecom industry is going through a lean phase, and the profit margins are receding ever so fast. Over the Top (OTT) players from outside the industry are having a huge say on the total revenue generated by telcos. It is time for MNOs and MVNOs to take their destiny in their own hands, and come up with exciting offerings. In this regard, IoT has a huge role to play.
But many telecom operators would rather focus on their business strategies than establish a complete IoT services delivery network. Especially MVNOs who do not have deep pockets, there is a need to access an IoT platform that provides IoT data, IoT billing and IoT development solutions. Such Internet of Things companies are very rare who can fulfill these requirements of telcos.
The Most Sought-After Attributes of Internet of Things Companies
As a telecom operator, it is vital to find Internet of Things companies that can fulfill the following requirements:
Tracking, charging and billing of millions and millions of IoT transactions
IoT tech is a different breed altogether. When IoT is in full flow, we are expected to see millions and millions of IoT transactions taking place every day. Therefore, the IoT support partner that you choose should be able to handle such large scale tracking, charging and billing requirements.
Security for IoT data transmission and devices
As the number of transactions rise, the need to secure every transaction will also grow. The IoT signal and vast amount of IoT sensors need to be secured with robust encryption. The IoT company that you choose should be able to offer flawless security, if you are to leverage it for business gains.
Variety in IoT connectivity
IoT data connectivity requirements are not very simple. You require Bluetooth, NFC, RFID, Mobile Data, Broadband, Satellite, LoRA and SigFox expertise to fulfil the unique requirements of different IoT use cases. Therefore, you need a versatile IoT partner with relevant expertise.