The continuous evolution of telecommunications infrastructure, notably the rollout of 5G networks, significantly influences the global cellular IoT market. This advancement promises higher speeds, reduced latency, and increased connectivity for IoT devices, expanding market size and accelerating growth. However, despite the multi-Billion-dollar investments there is a disappointing low- rate of enterprise cellular IoT deployments and a significant loss in revenue growth opportunities.
Understanding the Enterprise Pain
The key “showstopper” for organizations who need to deploy Cellular IoT networks often revolves around operational visibility, cybersecurity and legal liabilities.
Lack of Visibility: Organizations often face challenges in gaining visibility into the devices on their network and ensuring they are secure and monitored. Due to limited alternatives, enterprises rely heavily on manual procedures to detect and link compromised cellular IoT devices to cyberattacks. Consequently, many enterprises exhibit minimal confidence in transitioning their operations to cellular IoT networks.
Ineffectiveness of current security practices for Cellular IoT Networks: The challenge in cellular IoT networks lies in the unique paradox that while the data owner is the connected organisation, the actual network owner is the operator. This complexity hinders organizations from implementing cybersecurity best practices, detecting suspicious events and mitigating them effectively.
Legal Liabilities: Without visibility, implementation of security controls and business continuity processes, organizations fail to comply with relevant cybersecurity and data- privacy regulations. With the accountability and intimidating legislated fines being inflected on organizations, they require solutions that will help them gain a sense of confidence, before adopting cellular IoT networks.
Turning pain into opportunity -a new ecosystem around cellular IoT connectivity.
Enterprise customers have highlighted key pain-points, posing challenges for cellular operators but also unveiling a significant opportunity. Over the years, IoT connectivity has evolved into a commodity, leading to a continuous decrease in price levels, both in retail and wholesale sectors. Presently, cellular operators are concentrating on leveraging their networks to innovate and create new revenue streams. This involves offering value-added services and managed solutions on IoT connectivity.
Shield-IoT: Enterprise grade cybersecurity monetization platform for cellular Iot Operators.
Shield-IoT is leading the charge in closing the enterprise cybersecurity and compliance gap for cellular IoT networks. By integrating our platform, cellular operators empower their business customers with a robust security application. This solution offers continuous visibility, implements cybersecurity best practices, and ensures regulatory compliance through automated reports.
The cellular operator, as the network owner, plays a crucial role in creating new revenue streams beyond connectivity. By offering essential business solutions to their connected customer base, they can drive profitability and enhance service delivery.
The self-service field-proven monetization platform enables connectivity providers to effortlessly manage the entire customer journey and onboard new customers in minutes. This, combined with a fully automated, zero-touch, sales processes, has driven profitability levels, resulting in service margins of over 80%.
IoT security is indeed a challenge, but it is also a unique opportunity – to create differentiation, win new connectivity customers and ultimately drive new revenue streams.