THE IOT REVOLUTION
THE IOT REVOLUTION
While most current generation IoT networks run on LTE networks , or even 3G and 2G bands , the potential of 5G connected IoT is significant , and its adoption is growing closer with each passing day . Gorman explains that the GSMA in APAC is dedicated to helping its members prepare for this generational leap forward . In particular , the GSMA has identified low power wide area ( LPWA ) networks as a point of focus , noting that “ Like the mobile phone itself , GSMA sees Mobile IoT as a large market opportunity , if Mobile IoT is standardised to deliver economies of scale and a large vibrant ecosystem of devices , applications and solution providers to choose from .”
By 2025 , the global IoT market will be worth just over $ 900bn a year , a massive increase from its $ 348bn value in 2019 . Gorman notes that APAC is the world ’ s biggest IoT market in terms of potential for economic growth , and expansion of the number of connections . In order nurture the region ’ s IoT and 5G ambitions , the GSMA launched an APAC IoT Partnership Program in 2018 , which is now home to 66 MNOs ,
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