Telcos develop IoT solutions to support business growth

Telcos develop IoT solutions to support business growth

Telcos are expanding their services to facilitate digital transformation across industries. IoT technology has the ability to keep billions of devices connected which can support the growth of business and increase revenues by giving companies access to more data and analytics and providing customers flexible and agile connectivity.

According to the Telefonica website, at the end of 2019, the Spanish telco managed 23.8 million IoT connections worldwide. In the first quarter of 2020, Telefonica claimed that IoT connections increased to over 2.6 million, a year-on-year growth of 12.4%. The rising number of connected devices clearly reflects a trend. Globally, the number of IoT-connected devices is projected to increase to 43 Billion in 2023, according to a McKinsey & Company report published in 2019.

Telefonica Tech is a new unit that leverages the advances being made in IoT and is expanding service offerings to customers for a better connective experience. The solutions that Telefonica has tapped into and brought together comprise of IoT big data, cloud and cyber security. These areas have high growth potential. Furthermore, the breakthrough of big data and cloud computing technologies will help transform the values of Big Data and promote the broader application of the Internet of Things.

According to the Telefonica website, the telco’s collaboration with Erictel aims to develop and commercialize new IoT and Big Data mobility solutions. Their services will support companies’ strategic execution of operations in a sustainable, efficient and secure way. This will also drive the development of new, improved business models. With the shift to remote working, it has never been more important for companies to protect their network with advanced management solutions in this heightened state of work-force connectivity. The solutions provide the appropriate tools such as real-time management and digital reporting.

Elena Gil, Product & Business Operations Director for IoT and Big Data at Telefonica Tech, welcomes the new phase of collaboration. “This agreement enhances our capabilities in IoT and Big Data, at a time when collaboration with our partners is more important than ever in order to support B2B customers in their path towards digitalization, automation and data-driven decisions.”