The Internet of Things is a huge business opportunity for innovators and service providers alike. Technavio’s analysts forecast the global cellular M2M connections and services market to grow at a CAGR of 29.98% during the period 2016-2020. From connected cars to utilities, heavy industry and manufacturing, practically every vertical sector is being transformed by M2M, providing operators with the platform to deliver the connectivity required to drive this evolution.
According to a survey conducted by 451 Research, approximately 65% of enterprises utilize IoT solutions for business purposes. The same research projects that enterprise investment in IoT technologies will skyrocket from $215 billion in 2015 to $832 billion in 2020, and expect that businesses will continue to find new use cases for IoT technologies over the next few years. What’s more, large IoT/M2M projects are now becoming more prevalent – more than 10% of the companies surveyed have IoT/M2M projects up and running with more than 10,000 connected devices.
MNOs and MVNOs are seeing their businesses transformed by the M2M connectivity revolution. The number of European MVNOs has grown at an incredible rate; latest reports indicate the figure stands at over 120. The situation is similar in the APAC market. This is due to established domestic players expanding into new markets with MVNO licences and moving to launch in countries such as Australia, Malaysia and Thailand.
However, before operators can capitalise on the growth of M2M, there are a number of challenges they need to address. This includes keeping pace with the constantly changing commercial and technological landscape. The impact that IoT transformations can have on business is a pain point that both MNOs and MVNOs share. For example, the complex requirements and network projects needed to support cellular M2M devices, and being able to provide fast, seamless global connectivity for vertical M2M applications, now need to be considered before rolling out M2M communications.
For years, BICS has been a dynamic partner for MVNOs worldwide, through offering access to its extensive network and roaming platform, and operating a carrier-grade supporting infrastructure. Our one-stop-shop solutions provide MVNOs with all the tools they need to launch and support the latest platforms across the globe.
BICS’ network and technology agnostic white-label machine-to-machine platform helps operators leapfrog the competition. Global connectivity capabilities with a broad range of partner companies and networks extend their reach, whilst still conforming to the highest security standards. What’s more, our services to facilitate new revenue streams from vertical sectors help to generate income from comprehensive SIM management and speeds up service adoption with API-based interfaces, with BICS providing the right blend of support and control along the way.
With connectivity revenues from IoT predicted to reach $50bn by 2025, the time is now for MVNOs and mobile operators to acknowledge and take advantage of the opportunity. And BICS’ one-stop-shop solutions hold the key to unlocking the potential of M2M for years to come.
An article by Vincent Godel, MVNx International Business Development at BICS