Early deployment of commercial low power wide area networks (LPWAN) in licenced spectrum is said to boost IoT revenue to an estimated $ 1.8 trillion (£1.36tn), according to a new report from the GSMA.
The report, containing figures from the IoT Forecast Database Research published by analyst firm Machina Research, underline the huge growth opportunities for mobile operators delivered through new mobile IoT applications and services.
According to the report, 12 mobile operators have launched 15 such commercial services, which includes AT&T, Telstra and Verizon (LTE-M), as well as China Mobile, China Telecom, China Unicom, Deutsche Telekom, KT, LG Uplus, M1, Turkcell and Vodafone (NB-IoT). The Americas region is expected to see an estimated $ 534 billion, or approximately a third of the total revenue.
The findings show that the biggest revenue opportunities for IoT will come from the consumer demand for connected home ($ 441 billion), consumer electronics ($ 376 billion) and connected car technologies ($ 273 billion). Also, other areas such as connected energy are predicted to reach $ 128 billion by 2026 owing to local governments and consumers looking for smarter ways to manage utilities.
Operators are upgrading their licensed cellular networks with NB-IoT and LTE-M technologies that use internationally approved 3GPP standards to scale the IoT. Furthermore, mobile IoT networks are likely to see 862 million active connections by 2022. These new networks are compatible with mass-market IoT applications across various use cases, such as industrial asset tracking, safety monitoring, water and gas metering, smart grids, city parking, vending machines and city lighting, requiring solutions that are low cost, use low data rates, require long battery lives and can operate in remote locations.