Technology Mirror
About $900bn Telecoms Market Revenue Opportunity Ready for Telecoms Operators Investing in Cloud & API Services in 2024

About $900bn Telecoms Market Revenue Opportunity Ready for Telecoms Operators Investing in Cloud & API Services in 2024

Telecoms operators will find revenue growth through the monetisation of enterprise markets, such as cellular IoT, to capitalise on the $900 billion global telecommunications market this year.

Despite their significant investment in 5G networks, operators have struggled to monetise the widespread adoption of 5G by consumers. Failing to gain a significant price premium over 4G services has been a key issue.

According to Juniper Research, operators invest in cloud technologies that enable new services such as CAMARA-compliant APIs to better manage IoT services over networks. An API will enable third-party software to communicate with specific applications present in telecommunications networks.

5G is the key enabling platform for operator growth in the IoT market; owing to the high degree of software‑defined processes allowing the swift deployment of APIs. However, to maximise this growth, operators must provide APIs that enable real-time management of devices, remote configuration and integration with third-party solutions.

This will position operator networks well to capitalise on the opportunity for IoT connectivity revenue; a market forecast to grow from $10 billion in 2023, to $23 billion by 2028.

Research co-author Benjamin Clark remarked: “Despite the investment into new technologies, strategies to monetise networks via mobile subscribers have fallen short. Future business models must create value for enterprises and new revenue streams that monetise via enterprise activities.”

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