Which growth strategies will help your organization identify the right partners to capitalize on Internet of Things (IoT) embedded subscriber identity modules (eSIMs), softSIMs, advanced metering infrastructure (AMI), smart grids, and distributed power generation?
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Growth Potential of eSIMS: eSIM penetration is poised to grow at a CAGR of 39.1%, reaching 1.64 billion IoT eSIM connected devices by 2028, propelled by the adoption of technologies like satellites and 5G in automotive mobility, transportation, and logistics.
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IoT Adoption in Digital Power and Energy Services: 83% of power and energy companies are already using or planning to use IoT technologies to thwart challenges associated with legacy systems, integrating regional grids and national grids, securing communications, and establishing device interoperability.
The IoT and edge ecosystem is experiencing an evolution with the emergence of eSIMs and iSIMs. These technologies transform the way devices interact, delivering more flexible, secure, and cost-effective ways for managing connectivity, thereby enabling easier activation, seamless network switching, and remote programming. This is necessitating stronger collaboration between mobile network operators, virtual network providers, original equipment manufacturers (OEMs), semiconductor manufacturers, and hardware developers for smooth IoT orchestration. Additionally, new developments in AMI, smart grids, and energy storage management are enabling greater efficiency and sustainability in power generation/distribution.
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AMI is helping utility companies augment billing, load management, and outage detection, while smart grids are leveraging IoT technologies to enable more dynamic pricing models. Further, distributed power generation is decentralizing energy production, reducing reliance on traditional grid infrastructure, enhancing energy security, and intensifying the need for low-voltage network visibility.
Disruptive Technologies
- Transitioning to eSIMs, iSIM, new SIM (nuSIM), and softSIM in automotive mobility and manufacturing.
- Leveraging advancements in artificial intelligence, 5G, and IoT in intelligent building automation, virtual power plants, and distributed energy resource (DER) management.
Innovative Business Models
- Capitalizing on business models like remote SIM provisioning (RSP) and new eSIM services to accelerate growth.
- Integrating comprehensive associated services/ professional services into solution portfolios for improved power and energy outcomes.
Industry Convergence
- Collaborating with telecom operators and eSIM providers to integrate roaming capabilities into IoT solutions.
- Combining software functionalities with defined application programming interfaces, applications, data flows, and suppliers to enable delivery of microservices.
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