The Internet of Things (IoT) is on rise. Connected devices are set to increase from 700 million to 3.2 billion by 2023, according to numbers by titan telecom manufacturer, Huawei. And with it comes endless technological possibilities that will rock modern society as we know it.
This is great news for the IoT market, as it unleashes a never-ending variety of products and services that will usher humanity into the next era. Throughout this journey, telecom operators have slowly begun transforming their new business opportunities accordingly.
They have already been successful in connecting phones, tablets, and other devices; however, connecting vehicles, machinery, robots, sensors, and consumer electronics will require even broader business models.
To this day, LTE is considered the most popular and most-used network with speeds reaching up to 100 megabits per second. LTE is primarily designed and optimized for smartphones, whereas 5G will champion the comprehensive changes in digitalization, society, and the economy to pioneer IoT.
Different from LTE, 5G will reach new dimensions of communication, since the data throughout the new network would reach up to 20 gigabits per second and allow shorter response times.
“With 5G, it will also be possible to transmit data in real time. This means that 100 billion mobile devices around the world would be accessible at the same time. In other words, a connection density of approximately one million devices per square kilometer,” according to a report by Swedish Telecom giant, Ericsson.
There are a number of advancements that have already started to surface with the slow emergence and rollout of 5G to date; while most of them literally haven’t been discovered or invented yet, here’s a list of industries that will shape humanity’s newest technological landscape.
One cannot talk about 5G without mentioning Industry 4.0.
The extreme speeds and low-latency of 5G will allow manufacturers to completely overhaul their operations into smart factories that are able to greatly improve quality control by identifying defected products faster.
While in the renewable energy sector, IoT sensors and machinery in coordination with Artificial Intelligence (AI) are skyrocketing productivity via advanced and more accurate weather forecasts and analysis.
In addition, due to the introduction of AI, mechanisms are able to adjust and control themselves depending on varied weather patterns. In parallel, smart grids will be able to distribute and control energy more efficiently, which in turn minimizes downtime and energy expenses.
All of this is possible on a network with minimal time lag, while maintenance will become more precise and efficient due to data collection and lower latency.
Supply chain management
Usually, supply chain management demands a lot of manual supervision from transportation to warehousing, as well as the movements inside of it. 5G will allow this procedure of tracking and tracing of shipments to be reduced to numbers on a screen.
An example of this is for perishable products, where AI will allow remote monitoring of temperature and humidity, while also providing inventory disposition, location, and re-routing in real time with 5G enabled IoT trackers.
The retail industry reimagined
Currently, personalization is at the heart of the retail industry, and 5G will only amplify it further.
“An AI-powered fitting room with a screen could suggest similar outfits and matching accessories at the touch of a button. The customers will also be able to speak to the sales clerk and ask for other products instead of awkwardly shouting over the door,” a study by US-based management consulting firm, Mckinsey & Company, stated.
In parallel, IoT-enabled smart shelves can automate inventory management. “They can provide real-time inventory data, build Omni-channel customer relationships, and dynamically adjust prices depending on demand,” the study added.
The smart city race
Currently, IoT is exclusive in our homes and commercial buildings; but all that is going to change very soon and expand toward entire cities with a focus on public departments such as water, electricity, gas, waste management, traffic monitoring, and even environmental services.
An example of this is the Spanish city of Barcelona, that started to deploy IoT technologies across its urban systems back in 2012. The following year, the local government reported a 62 percent increase in WiFi hotspots with a distance of 100 meters.
The city’s smart waste management system was able to optimize collection routes via smart bins that monitor waste levels placed by households within the area. This impact even reached the transportation sector that introduced digitized bus stops and parking lots. Some of the amenities introduced were real time bus tracking, USB charging stations, and free WiFi.
“The city embedded the vehicle parking spots with sensor systems that has helped reduce congestion and emissions significantly. The street lights have motion sensors to conserve energy. They remain dim and only brighten up when they pick up motion. The lamp posts also provide free internet and collect air quality data of the city,” a report by Barcelona-based Ziggurat Global Institute of Technology said.
“For watering of parks, the city uses sensors to monitor rain and humidity and determine how much water it requires. A system of remotely controlled electro valves delivers that quantity of water across the city,” the report added.
Massive data exchange is needed to successfully reach complete driving autonomy.
One has to factor in tracking temperature, traffic, weather, and GPS location, information about pedestrians and street fixtures to be able to pull it off. While IoT enabled sensors and devices will collect data, the 5G network will ensure efficient transfer of these to the vehicles with no latency.
Revolutionizing the healthcare industry
Telemedicine, or remote medicine is gaining massive traction already; a study by Market Research Future predicts telemedicine to grow by 16.5 percent from 2017 to 2023.
Besides the ability to send massive lumps of data from MRIs and PET scans, at the snap of a finger, the 5G network will work wonders with people who have limited access to medical facilities.
This will allow patients with chronic illnesses and discharged diagnosis to be remotely monitored with the help of IoT-powered wearable electronics. This will not only provide mobility to patients, but free up vital hospital resources, as well as relieving doctors who are still able to remotely monitor patients in real-time.
Augmented reality (AR) and virtual reality (VR) will broaden the scope of research as well as increase experiments to bring remote surgeries through 5G-enabled robotics and machines to achieve the most concise results.
Realistically speaking, most service providers won’t be able to rollout 5G networks to the global public until 2025–2030. However, companies far and wide are laying the ground work for the next step in human advancement before competition settles in.
It’s no longer a countdown at this point, but starting to knock on our door.
Telstra secures largest IoT contract with water utility firm
Australian-based operator Telstra said it has won a 15-year contract from Yarra Valley Water to provide one million industrial IoT services on Telstra’s IoT network.
Telstra says this is its largest IoT deal to date and the first large-scale IoT deployment using Telstra’s new cloud-based platform-as-a-service IoT Connection Manager (ICM). Telstra will deploy its ICM platform to enable Yarra Valley Water gain access to near real-time data from a range of in-field sensors.
“Instead of getting four data points a year, our IoT Connection Manager will now allow Yarra Valley Water to get more than 17,000 data points annually for a much more accurate, near real-time, and robust understanding of its water infrastructure,” Telstra’s group owner of industry solutions and IoT Mark Chapman said.
Cellular low power wide area network
The Yarra Valley Water solution leverages Telstra’s cellular low power wide area network (LPWAN), which offers an IoT coverage of around 4 million square kilometers for NB-IoT and over 3 million square kilometers for LTE-M.
Yarra Valley Water Managing Director, Pat McCafferty, said: “Internet of Things devices are a game changer for the water industry. By deploying a range of different sensors into our water and sanitation networks, we can detect leaks, minimise water wastage and save our customers money.”
Telstra said that its IoT network currently has over 4 million connections in the country.
As part of the agreement, Telstra will provide the IoT connectivity and the ICM Platform to enable sensor readings to be collected automatically in near real-time.
This will enable the utility company to prevent leaks from becoming bursts, sewer blockages from becoming spills, and notifying customers about issues on their properties so they can act quickly.
17,000 data points annually
Telstra Group Owner of Industry Solutions and IoT Mark Chapman said: “Instead of getting four data points a year, our IoT Connection Manager will now allow Yarra Valley Water to get more than 17,000 data points annually for a much more accurate, near real-time, and robust understanding of its water infrastructure.”
He added: “This is a great example of how our leading IoT network and platform is helping organizations use connected technology to drive positive customer experiences and help remotely monitor its assets and complex infrastructure.”
Telstra, which had launched 5G in May 2020, is currently using its spectrum in the 3.6 GHz band to provide 5G technology across Australia. Some of the cities in which Telstra offers its 5G service are Canberra, Central Coast, Brisbane, Sidney, Cairns, Gold Coast, Adelaide, Hamilton, Melbourne and Perth.
IoT in healthcare set to skyrocket at $469.4 bn by 2027
It is without a shadow of a doubt that the pandemic has brought the world to a golden age of technology, as it accelerated digital transformation and technological innovations that will forever shape how we lead our lives.
The obvious champion of the pandemic was the healthcare industry, which saw it being infused with a plethora of tech-oriented solutions, inventions, and render the experience as seamless as possible.
Technological advancements are making a mark across the healthcare industry to a considerable extent. Monitoring and diagnosing patients are of utmost importance in the healthcare sector. The increasing use of connected technologies like IoT has resulted in overwhelming innovations.
Thus, all these factors bring immense growth prospects for the IoT in healthcare market.
IoT, or the Internet of Things, is a form of connected technology that uses data to customize real-time monitoring aspects and enhance customer experience. IoT is used extensively to enable real-time health monitoring and usually accesses patient health data.
The data proves to be a treasure for the stakeholders in the healthcare sector as it helps in enhancing patient health. Thus, all these advantages help in boosting the growth prospects of the Internet of Things in healthcare market.
A new study by Transparency Market Research (TMR) analyzed the overall development of the IoT in healthcare market in recent times. TMR experts project the IoT in healthcare market to record a whopping CAGR of 20.9 percent across the forecast period of 2019-2027.
The global IoT in healthcare market is estimated to reach a valuation of $469.4 billion by 2027, the end year of the forecast period.
With the advent of IoT in healthcare, patients’ interactions are not just limited to text messages, visits, and calls. IoT in healthcare has enabled doctors and clinicians to monitor the progress of their patients frequently.
The data provided by IoT helps in increasing patient engagement and satisfaction due to more efficiency and accuracy. In addition, the COVID-19 pandemic will have a massive positive impact on the growth of the IoT in healthcare market.
Vaccine to boost IoT in Healthcare
COVID-19 vaccines are the key to reducing the effect of the pandemic around the world.
Mass vaccination drives are being conducted across the globe through varied vaccination drives; thus, connected technologies play an important role in the manufacture and supply of vaccines.
The Smart Fridge by Weka is a classic instance. This fridge uses IoT to allow remote monitoring of vaccines and ensures that the vaccines are stored at the right temperature. These factors will play an important role in increasing the growth rate of the Internet of Things in healthcare market.
IoT in healthcare is not just limited to devices; the technology is making a great impact on emergency services as well.
Ambulances play a major role in providing emergency services. These ambulances, if connected with the IoT can help in addressing the issues of the patients with utmost care.
Unlike standard ambulances, IoT-enabled ambulances are connected to remote consultation rooms. It enables the paramedics to consult patients remotely and diagnose their problems immediately without wasting much time. All these factors bode well for the growth of the Internet of Things in healthcare market.
IoT in Healthcare Market: Uses in COVID-19 Pandemic
The growing transmission levels and the increasing strain on the healthcare facilities boost the need for connected technologies extensively. Here’s how the IoT in healthcare is playing a significant role during the pandemic according to the study by TMR:
- IoT devices are speeding up the COVID-19 detection processes by capturing patient data and other information.
- During the COVID-19 quarantine period, the patients can be monitored remotely by the authorities through wearables and similar technologies.
- Crowd monitoring devices powered by IoT will help ensure social distancing in public spaces.
While these innovations and inventions have massive room to disrupt the healthcare market, many experts have made the point that we remain at the tip of the technological iceberg, with much more to come.
Global eSIM shipments to reach 822 mil by 2025, as smart cities drive growth
A new Juniper Research study found that the number of global eSIM module shipments will increase from 430 million in 2020 to 822 million in 2025; representing a growth of 90 percent.
The research identified the public sector as the fastest-growing area, with shipments of eSIM‑enabled public sector sensors expected to increase by 500 percent over the next four years, as smart city services benefit from the flexibility of the growing eSIM ecosystem.
The new research, eSIMs: Sector Analysis, Emerging Opportunities & Market Forecasts 2021-2025, found that smart street lighting sensors will account for 88 percent of eSIM shipments within the public sector by 2025.
“We predict that smart city providers will leverage cellular networks, underpinned by eSIMs, as gateways to low-power connections for the monitoring and management of smart city services,” the report pointed out.
NA Smart Cities achieve global dominance
The report predicts that the U.S. will remain the largest market for public sector eSIM adoption; accounting for 30 percent of eSIMs installed in devices by 2025.
It highlighted that “operators in North America have led the development and roll-out of 5G networks, which has enabled new levels of city-wide automation and information sharing in smart cities.”
Government authorities in other regions must follow the example set by smart cities in North America to ensure the smooth transition from legacy technology to smart sensors underpinned by robust eSIM technology.
Standalone 5G Networks Key for Future Smart Cities
The study urges eSIM vendors to develop 5G-capable modules to capitalise on the growth of next‑generation 5G standalone networks, which enables the deployment of 5G-enabled eSIMs within smart cities.
Research author Scarlett Woodford noted: ‘To support smart city initiatives, eSIM vendors must invest in the development of 5G-enabled form factors. By combining flexible network connectivity with high bandwidth transmission and reduced latency, 5G-capable modules will enable local authorities to monitor connected sensors in real-time and allocate resources accordingly.’
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