The IoT industries and all the service providers working around the area are passionate about innovation as well as in keeping an eye on what’s next. The state of connectivity and enterprise mobility might have reached a different level but it still is in the initial stages and has a long way to go. Let’s acquire a deeper understanding of this connected world and its potential implications for customers as well as the service providers.
How the Idea of Connectivity Came Into Being
The company CompuServe came up with the idea of a new service called the CompuServe Information Service in the 1980s. This service was supposed to give access to information present on the internet and only until later, it actually became known as the internet. Then, came about personal computers and thus a new notion of connectivity was born. The initial 2G technology promised fast internet speed in the 1990s. The wifi idea then became widespread and this snowball effect continued to grow. Later came out cloud computing and broadband, social networking sites and then mobility, which was a connection on the go. This gave birth to a new modern era of connectivity with a digital revolution that was never seen before.
It is said that three quarter of the world owns a mobile phone and a half of it owns a smartphone. The web traffic comes mostly from the mobile phones they own and these people are mostly broadband users. The digital revolution has not merely happened on the consumers’ end but the way consumers are connected, businesses are also connected and digitized in the same way.
The Next Connectivity Phase – IoT
Businesses are expanding their technology infrastructure and with this expansion, the connected things across the globe will reach a new figure of 20.4 billion by the end of the year 2020. These numbers come from the phenomenal growth of two groups i.e. consumers and businesses. More than businesses, consumers are perhaps the largest group when it comes to connected things. In 2017, there were approximately 5.2 billion users in the connected space according to a Gartner report. On the other hand, the other group of businesses has gone beyond its estimation to keep pace with the growing connected consumers and it has spent an estimated amount of $275 billion on IoT spending. These numbers are only to increase in the years ahead.
Businesses have already realized the advantages of real-time data that they get from their always-connected consumers. Since more data translates into more opportunities, businesses are rightly investing in newer platforms and human resources with niche skills to manage and maintain those platforms. It is a new generation of opportunity in 2018 that we expect and for the service providers, it is crucial to step up and evolve with the demands of the changing business dynamics to be relevant, accessible and connected to the consumers. This is where usage billing feature finds its way into the evolution of this digital space.