Tuesday, April 16, 2024
Evina 110 x 220
DigitalSelect1100x220 (Copy of #3)

    Operators must invest in IoT, cloud and API services to benefit from $900bn global telecoms market opportunity in 2024

    Operators are predicted to find revenue growth through the monetisation of enterprise markets, such as cellular IoT, to capitalise on the $900bn global telecommunications market this year, finds research.

    Despite their significant investment in 5G networks, operators have struggled to monetise the widespread adoption of 5G by consumers. Failing to gain a significant price premium over 4G services has been a key issue.

    An extract from the new report, Global Operator Revenue Strategies 2024-2028, is now available as a free download.

    The IoT API opportunity

    Turning to enterprises, the report from Juniper Research 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.

    Research co-author Benjamin Clark comments: “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.”

    Related Articles

    Subscribe to our newsletter

    To be updated with all the latest news, offers and special announcements.

    24 Seven 600x500
    Evina 900x750
    SeriouslyFresh 600x500