For the last 15 years, device makers, network operators, and vendors have been trying tirelessly to create connectivity between anything and anywhere. IoT possesses a high potential and has extensive use cases in the present day, but it required low-bandwidth and low-speed connectivity. From a marketing perspective, IoT might work, but it doesn’t offer much delineation considerations. With the arrival of 5G operators are very determined to bring out the use cases of IoT because the underlying feature and architecture of IoT expands the scope of IoT. VP at Dell’Oro Group, Stefan Pongratz, stated that due to overly ambitious projections, the growth of IoT was obstructed. Furthermore, Pongratz also stated that progress during the last three years on use cases, standards, capabilities, and other factors involving the growth of IoT technologies is quick-paced.
Forecasts from Dell’Oro Group show that 5G will outpace the average LTE-based connection, and by 2023 IoT will account for 3 percent of total mobile operator revenues. It is anticipated that tremendous opportunities possessed by IoT will significantly expand the operator’s revenue by reaching out to new customers. People who create modules that power IoT will witness accentuated growth, and the 5G arrival will propel the IoT market considerably.