A recent study by Juniper Research has revealed that operator revenue from IoT roaming is expected to rise from $1.1 billion in 2024 to $2.2 billion by 2029. This comprehensive report highlights that while 5G IoT devices will make up less than 10% of IoT roaming connections, they will generate over 40% of total revenue by 2029, driving much of this growth.
The research emphasises that the key to this revenue increase will be 5G-enhanced roaming services, which offer improved quality of service for applications such as Ultra-Reliable Low Latency Communications (URLLC). These services will be crucial for supporting various 5G IoT use cases.
Due to the need for 5G-enhanced roaming in delivering mission-critical services, operators will be able to impose premium pricing on these connections. The research identified URLLC as vital to success, especially for real-time applications such as IoT-based vehicle maintenance, where reliability is essential.
The report also notes that the rise of enhanced connectivity will drive the need for advanced roaming steering across network slices. Network slices are independent, logical segments of a 5G network, often dedicated to specific users or applications. Advanced steering will be necessary to ensure that IoT connections are directed to the appropriate network slice based on the use case, ensuring optimal quality of service.
“To effectively meet quality of service requirements, operators must provide enterprises with tools which allow them to input their connectivity requirements; enabling operators to steer IoT roaming connections to the optimal network slice,” said Alex Webb, research author.
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