Page 60 - SAMENA Trends - Oct-Nov 2023

ARTICLE SAMENA TRENDS

ARTICLE

IoT Use Cases for Strong Revenue Opportunities in

MENA

In the last several years, communications service providers (CSPs)
started adopting and developing the Internet of Things (IoT) to
generate alternative revenue streams. This is not surprising, as IoT
already has an impact om everyday life and work, and we will see
more exciting emerging trends as the IoT market will grow further.
In 2023, there are 19.8 billion installed and connected devices
across the world, and by 2025, they are expected to increase to
30.9 billion. MENA will also likely benefit from a productivity
effect from IoT-based products and services. For all ecosystem
players in MENA, IoT revenue will increase by approximately 19%
per year to reach $55 billion in 2025. According to the GSMA, the
economic benefit will rise to $18 billion in 2025, equivalent to a
GDP contribution of 0.3% to the regional economy.

Building IoT ecosystems is closely related to developing
applications designed to collect, transfer, and process data from
connected devices. There are opportunities to create a wide range
of IoT solutions based on mobile connectivity management.
Connectivity management platforms serve as a foundation to
build the CSP’s business in the IoT market, as they provide clients
with the next level of visibility through IoT-enabled devices and
access to IoT data. For instance, Nexign IoT Connectivity Platform
helps CSPs automate core business processes in the IoT and
machine-to-machine (M2M) market. It provides end-to-end IoT
client lifecycle management and enables CSPs to create a digital
ecosystem, generate new revenue streams, and reduce operating
expenditure (OPEX) for customer support and BSS maintenance.

Along with 5G, IoT is crucial for industrial digitalization. 5G and
IoT let CSPs offer customized network slices to meet the client’s Mikhail Matyushin
needs. For instance, they determine the speed of data transfer, the Chief Executive Officer
amount of data that could be sent between devices, and network Nexign
coverage. The industrial IoT market is expected to exceed $1 trillion
by 2028, as companies across the world require greater efficiency
and control in industrial operations. In MENA, industrial IoT is the
fastest growing IoT segment. It is anticipated to reach 57% of total
IoT connections in the region by 2025 due to an increase in smart
utilities, smart retail, and smart city deployments.

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