The potential of the Internet of Things (IoT) is immense, as connected devices worldwide hold the promise of a better, greener, and safer future. Events like the IoT Tech Expo Europe are crucial for exploring the latest innovations, implementations, and strategies that can help businesses realize the benefits of IoT and drive their success. This year, on September 26th and 27th, enterprise leaders from around the world will gather in Amsterdam to delve into the potential of IoT.
The GSMA’s Global Trends Report sheds light on the latest developments in IoT that will be closely watched at this year’s event. Firstly, IoT deployments are driving the digital transformation agenda for nearly two-thirds of enterprises, with revenue generation and cost savings being equally important priorities. This will result in an incredible two billion new IoT connections globally in 2023, with 1.4 billion of those coming from enterprise use cases, surpassing consumer connections in 2024.
The evolution of 5G is another significant theme to watch. IoT devices are putting pressure on current networks, impacting speed and reliability, prompting operators to evolve their strategies. The GSMA’s research highlights low-cost IoT as a top priority for 5G-Advanced, reflecting the industry’s push towards B2B services.
While cellular networks currently serve only 15% of total IoT connections, there is significant room for growth in the cellular IoT space. The GSMA predicts that licensed cellular IoT connections will reach 5.3 billion globally by 2030, up from 2.6 billion in 2022. Cellular M2M will support IoT devices that require mobility, while licensed LPWA will cater to devices previously served by legacy cellular networks.
eSIM technology is also poised for scalability and adoption. Enterprises recognize eSIM as an important technology for successful IoT deployments, with best-in-class security and scalability being the top eSIM benefits. In 2023, the focus will be on advancing eSIM adoption beyond automotive applications and highlighting how eSIM supports environmental sustainability.
Moreover, there is a strong synergy between IoT and private wireless networks. Around 70% of operators report that enterprise customers who purchase private wireless networks also request IoT services. This indicates a clear connection between the two services, with growth in private wireless networks driving renewed interest and further growth in enterprise IoT.
With innovation in the IoT field accelerating rapidly, attending the IoT Tech Expo Europe is an excellent opportunity for enterprise leaders to stay updated on the latest trends and identify new growth opportunities. The sharing of knowledge and information at such events will pave the way for more robust digital transformation strategies.
1. IoT deployments are part of the digital transformation agenda for 63% of enterprises, driving revenue generation and cost savings.
2. The successful rollout of 5G-Advanced is crucial for realizing the connected world vision.
3. Cellular IoT connections are expected to reach 5.3 billion globally by 2030, up from 2.6 billion in 2022.
4. eSIM technology is seen as a significant enabler of IoT deployments, with security and scalability being its top benefits.
5. Private wireless networks and IoT have a strong synergy, with growth in one driving renewed interest and growth in the other.