IoT offerings are developing beyond smart home technology with enterprise IoT initiatives, such as smart lighting, water metering, and smart farming, beginning to emerge. Technologically, IoT enables intelligent business decisions by bringing together near real-time data and insights. In many ways, IoT not only helps reduce operational costs but can also create new revenue streams for businesses and governments.
- remote device management across multiple device vendors;
- analytics engine to capture business insights;
- comprehensive APIs for third-party integration and applications;
- customizable user interface that can be adapted to serve multiple vertical markets;
Enterprise IoT is well-positioned to be a critical revenue driver for CSPs. Businesses expect CSPs to offer innovative products in the growing market. CSPs’ IoT business models and strategies will need to be tuned.
