IoT Has Room to Grow

In a recent blog, we explored some of the hot topics at last month’s Mobile World Congress Americas in San Francisco. Related to IoT, we had many “what’s next?” discussions, and it is an exciting question to consider given how quickly IoT adoption is expanding. Some reports predict 8 billion connected devices by 2020, while others estimate 50 billion. What researchers all agree on is that the ceiling for IoT adoption is sky-high, with no definable plateau in sight.

So with an increasing number of connected devices, what will drive the next wave of IoT innovation? Here are our thoughts:

• LTE: This one is not exactly rocket science, but we would be remiss without stating the obvious. We are already seeing how 4G networks are giving organizations richer, more enhanced capabilities for their applications. And with flavors of LTE that allow low power applications to function at costs competitive with 2G/3G networks, all industries seem to be covered.
• 5G: Will 5G drive further innovation in IoT? Will it be revolutionary? If we look around the room, all heads are probably nodding. How? Shoulders shrug. There is a lot of speculation, but it is just that – speculation. The picture should be less blurry in the next couple of years, and it will be exciting.
• Analytics: B2B utilization of IoT is unearthing wide swaths of data that answer questions about organizational capabilities. Where IoT can offer further value is by identifying how these sets of data interact and the cause and effect they have on an organization’s efficiencies. Analyzation of data relationships will drive even further ROI.
• eSIM: Mobile eSIM cards are a potential game-changer for organizations where connectivity is on the move – such as those in the Fleet Management space. The technology would allow devices to switch from one mobile network to another as signal strengths change, without losing connectivity. Right now, carriers are understandably concerned about the idea of losing exclusivity of customers, but it is a matter of time before they agree to standards to allow eSIM implementation.
• Multi-modality: As networks advance, preferred IoT solutions will be ready-made to adapt without additional servicing or new parts. IoT solutions lacking this prerequisite will quickly become obsolete.
• Integrated IoT offerings: Because most organizations cannot build an IoT ecosystem and do not have the time to manage relationships with the multiple solution providers necessary to support an application, we are seeing a greater commitment to turnkey IoT offerings. Bundling of services streamlines and accelerates the “idea-to-market” process at a much lower price point. The result: more organizations can take advantage of IoT’s power.

It is truly an exciting time to be part of the IoT revolution. While so much has already been accomplished, we are seeing only the tip of the iceberg. Learn more about how KORE can help get your IoT application off of the drawing board and into the market place.