5G is starting to be rolled out by operators. Amongst many others, IoT will benefit from it as it will decrease latency, allow massive amounts of data, bring energy savings and cost reductions. 5G's ability to capture vast amounts of data from remote sensors and other connected devices will need to correlate and visualize data mixing both real-time and historical datasets to unlock revenue-generating use cases.
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As Per the 2019 Cities in Motion Index (CIMI), introduced by IESE Business School, London and New York are the world’s top two smart cities. The index ranks 174 cities on 9 parameters: economy, governance, urban planning, mobility and transportation, human capital, social cohesion, environment, international outreach, and technology.
The advent of IoT in telecom companies will display its potential to enhance business procedures and generate more revenue. Research suggests that IoT can generate $1.8 trillion in revenue for mobile network operators. To benefit from these emerging revenue opportunities, telecom companies must develop innovative methods and applications to monetize IoT solutions.