On this week’s Carrier Wrap we speak with PwC to discuss the burgeoning internet of things market and potential impact from U.S. government policy
Few telecom market segments have garnered as much attention over the past year as the “internet of things,” which in its previous telecom incarnation was known by a variety of names, including machine-to-machine and telematics. However, thanks to some savvy marketing efforts, IoT is now the de facto term for the connection of just about any non-phone device to the internet.
Market forecasts would seem to indicate the IoT space has only just begun to see any growth, with predictions of untold billions of dollars set to be spent across the segment in the coming years. A recent report from Ericsson, for instance, claims that between 2015 and 2021 IoT is expected to increase at a compounded annual growth rate of 23%, making up close to 16 billion of the total forecast of 28 billion connected devices in 2021.
But, significant hurdles remain before IoT can reach its potential, with many of those issues coming from the regulatory realm. The government is set to have its say in terms of the use and deployment of IoT across smart cities and the automotive and many industrial segments. How those issues are handled is set to have a significant impact on the future of IoT.
On this week’s Carrier Wrap, we spoke with Dan Hays, principal at PwC’s Strategy& division, to get a better understanding of just how the IoT market has evolved, where the market is today and what role the government is set to have in shaping the future of IoT.
Make sure to check us out again next week when we are scheduled to speak with Sprint to discuss its latest marketing efforts.
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