The Economic Opportunity of NB-IoT

The Economic Opportunity of NB-IoT

The Internet of Things (IoT) is critical to our future presenting solutions to major societal challenges. These include global warming, and an aging population and congestion in major cities. IoT is also important commercially. The advancement of IoT can lead to new products and services, as well as innovative ideas.

IoT refers to a network of physical objects that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet.

IoT technologies have reshaped the landscape of many industries. There are 6 major industry verticals which have been influenced by IoT technology most significantly; these are agriculture, livestock, maritime, transport and logistics, energy, and infrastructure.

The number of IoT devices and the revenue derived from IoT has grown steadily over the past decade, albeit not as fast as hoped. Part of the reason for slower than expected growth has been coverage – with the revenue from IoT being less than that of cellular handsets, there is limited incentive for terrestrial operators to extend their coverage. In such cases, the key to unlocking everything is satellites. With the growing development and utilisation of Narrow-band IoT (NB-IoT) we can maximise the interoperability between terrestrial and space networks. That way, IoT applications can harness the strengths of both terrestrial and satellite networks.

All these culminate in the proliferation of IoT applications which would draw revenues upwards of $1 trillion global­ly by 2025 according to GSMA intelligence. The advantages NB-IoT can bring to economies and societies have been witnessed by several countries, such as Argentina, China and the United States.

The effective deployment of a NB-IoT has historically been challenged by the necessity of adapting devices and technology, creating a barrier for commercially valuable proprietary solutions – and thus, recent develop­ments in standard based solutions are key.

Download the report here:


 

Related Articles

AI in Africa: Unlocking Potential, Igniting Progress

AI in Africa: Unlocking Potential, Igniting Progress

As we stand at the threshold of the generative AI revolution, it will be critical to take early steps to...

21 Sep 2023 Reports
Google Korea 2023 Economic Impact Report

Google Korea 2023 Economic Impact Report

Driving force to South Korea’s economic growth and global success: Google’s contribution to digital innovation and role as K-content export...

21 Sep 2023 Reports
Local sellers, Global consumers 2022: Capturing the e-commerce export opportunity in Thailand

Local sellers, Global consumers 2022: Capturing the e-commerce export opportunity in Thailand

Thailand’s Micro, Small, and Medium Enterprises (MSMEs) are strategically positioned to capitalise on the rapid surge in e-commerce activities stemming...

20 Sep 2023 Reports
Google’s Economic Impact in Brazil

Google’s Economic Impact in Brazil

Brazil’s digital economy has demonstrated resilience over the past few years, with the country showcasing the ability to bounce back...

19 Sep 2023 Reports