By Loukas Tzitzis, Chief Products & Marketing Officer of Nexign
IoT and 5G monetisation is an important question for communication service providers (CSPs) worldwide. There is still so much to understand about how telecom operators can use the full potential of these technologies. How can CSPs leverage IoT and 5G technologies in the right way and capture new market opportunities?
When it comes to digital transformation today, CSPs around the world are focusing on IoT and its potential to transform their existing business. According to Analysys Mason, operator revenue and connection numbers for IoT are growing, with annual growth rates at around 20% and increasing.
The biggest challenge the industry faces today with regards to IoT is effective monetisation of use cases. CSPs will either have to extend their current systems or deploy new platforms.
Future-proof BSS systems should be able to support all types of charging scenarios, pricing models, QoS policies and interconnected relationships. Beyond commercial, architectural and technical challenges, service providers will look for optimal TCO platforms, suitable for multi-tenant and multi-device environments, provided by vendors that are ready to offer innovative business models suitable for the digital economy era. Partnerships will be particularly key to success, as service providers will need to support an unlimited number of organisations and agreements.
Are you ready for 5G?
5G has the potential to change the industry dramatically. The impact will go beyond ubiquitous, ultra-fast connectivity. It will also have a profound impact on operators’ monetisation streams. We are seeing that these are the things that are driving both TMF and 3GPP to put great emphasis on use cases such as network slicing as the foundation for advanced 5G concepts.
Consequently, operators will need to transform their BSS systems in key areas such as customer acquisition, policy, charging and customer service to be able to capitalise on the opportunities presented by 5G.
We believe that Nexign’s cloud-compliant vision, combined with its emphasis on partnerships, business-driven innovation, open architecture and TCO optimisation, has positioned us very well to effectively support CSPs on their journey towards the 5G and IoT monetisation era.
Watch the video interview with John Abraham, Principal Analyst at Analysys Mason, to discover more about how 5G and IoT are expected to transform operators’ services worldwide:
- How to ensure effective monetisation of 5G
- What are the requirements for IoT monetisation?
- The importance of partnerships for leveraging IoT opportunities