Implementing IoT in telecom can offer business analytics, ensure safety at remote sites, and monitor equipment.
FREMONT, CA: Having connected the vast majority of the world's citizens with a wireless cellular connection, the telecom industry is the most significant player in the IoT market. Reports say that telecom companies spent approximately $110.7 million on IoT in 2018, and this budget will substantially increase to $169.5 million in 2020. The emergence of IoT presents the telecom industry with some exciting opportunities to focus on.
By using IoT in telecom companies, business leaders can gain a large volume of data. Telecom firms can develop an information pool with the help of data gathered by IoT sensors. Firms can use the data to help gain crucial business insights. Analytics can also help telecom companies identify customer usage patterns, according to which firms can build predictive models that can help them forecast the upcoming trend in the industry.
Telcos can allow energy-efficient machine-to-machine communication with IoT. Usually, telecoms use GSM and WiFi for machine-to-machine communication. Telecom companies can provide low power WAN in IoT devices for various applications, including smart agriculture, parking systems, and many more using low power WAN. Besides, telecom organizations can develop other IoT-based products and services to generate new revenue streams in the IoT market.
A significant portion of a telecoms' operational cost is eaten up by remote infrastructure. This is where IoT plays a vital role, that is, remote monitoring and management. A telecom network will comprise several mobile cell towers distributed across a vast geographical area. Monitoring them for operational efficiency and predicting maintenance in advance are essential ingredients of remote management, and IoT makes it possible. Remote sites are under the threat of environmental hazards, and IoT can help in detecting such conditions. This can help issue control commands to either take preventive measures or shut down the system to avoid irreparable damages.
Implementing IoT in telecom is all set to change the role of telecom service providers in enabling communication between people and devices. Therefore, before adopting IoT in telecom companies, business leaders must develop an effective strategy to reap benefits to the fullest.