IoT to drive growth for the internet space in the future: Study

IoT to drive growth for the internet space in the future: Study

For 75 per cent of respondents, IoT will drive growth for the internet space in the future as per mobility solutions provider Mahindra Comviva’s released “The Business of Tomorrows” survey report.

The survey was carried out in collaboration with Mobile World Live, an online communication hub for the global mobile industry.

Operators across various segments, including the overall industry landscape, mobile payments, 5G, content, customer analytics and mobile broadband were surveyed. The report provides in-depth analysis of the impact of current and emerging new technologies on the wider telecom ecosystem

Commenting on the study Manoranjan Mohapatra, CEO, Mahindra Comviva, said, “Fueled by booming demand for mobile, the opportunities in the digital content and mobile financial services and under pinned by the promise of 5G, operators clearly have a major role in shaping the Business of Tomorrows driven by new technologies adoption leading to innovations and growth. We are committed to work in this ecosystem to drive future readiness of the operators, leading to the next level industry transformation,” he further added.

As per the survey, IoT holds tremendous potential; for 75 per cent of respondents, IoT will drive growth for the internet space in the future. For 32 per cent of respondents, smart city deployment could emerge as the biggest usage case for 5G, enabling cities around the world to connect to various types of infrastructure and amenities.

Customer Experience Management will form an integral part of this strategy too, as identified in the survey. There is also a strong likelihood that operators will start to invest, or step up their interests in solutions that monitor how people are dealing with an ongoing transformation. 63 per cent of respondents expected to invest in proactive customer experience, due to the rise of predictive, descriptive and prescriptive analytics.

As per the survey, there is no clear winner in the mobile payments space. A number of segments have emerged in the field, and while technology continues to evolve, financial inclusion for the masses must remain the key benefit and priority.

The reports also stresses that considering the huge scale, and additional benefits, mobile services can provide, mobile broadband needs to be made more affordable to truly achieve global scale and mass adoption.

There remain numerous challenges, though. As per the survey, operators will need to fine tune their strategies to address challenges like affordability, CAPEX and OPEX related issues, customer retention, and a comprehensive strategy to cash in on the data opportunity

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