A new study from Juniper Research found that total operator-billed revenue from 5G IoT connections will reach $8 billion by 2024; rising from $525 million in 2020. This is a growth of over 1,400% over the next 5 years. The report identified the automotive and smart cities sectors as key growth drivers for 5G adoption over the next 5 years.
The new research, 5G Networks in IoT: Sector Analysis & Impact Assessment 2020-2025, anticipated that revenue from these 5G connections is a highly sought-after new revenue stream for operators. It forecasts that 5G IoT connections must be considered as new connections that will not cannibalise existing operator connectivity revenue from current IoT technologies.
The research urges operators to develop comprehensive value-added services to enable IoT service users to manage their 5G connections. It forecasts that tools, such as network slicing and multi-access edge computing solutions, will be essential to attract the highest spending IoT service users to use their 5G networks.
The research also forecasts that valued-added services will become crucial in the automotive and smart cities...