Q4 2024 Insights:
Transforming IoT Data into Business Value
Trend Spotlight: Managing the Data Surge
With the growing adoption of IoT, the amount of data being generated is skyrocketing. The growth is being driven by industries like automotive and logistics, which rely heavily on real-time data to enhance operations and provide new services. According to a recent report by Omdia, data traffic from cellular IoT connections is projected to hit 110.8 exabytes by 2028.
As shown in the graph above, the automotive sector is expected to be the largest contributor to this surge, with IoT data traffic rising from 18.6 exabytes in 2023 to 59.4 exabytes by 2028. Other significant sectors driving IoT data growth include transportation, industrial IoT, and healthcare.
This mass of data presents both challenges and opportunities. On one hand, the sheer volume of data can overwhelm businesses lacking the infrastructure to handle it. On the other hand, companies equipped with the right tools can generate actionable insights that improve efficiency, reduce costs, and fuel innovation.
IoT Analytics Platforms are designed to process and analyze massive datasets at scale, providing companies with the insights needed to optimize operations. These platforms allow businesses to identify patterns, automate key decisions, and respond to real-time conditions efficiently.
As the volume of IoT data continues to grow, edge computing, AI, and machine learning are increasingly being used to help companies manage their data more effectively, allowing them to focus on core operations while benefiting from the insights their IoT data provides.
By implementing scalable solutions, companies can turn this vast data into a strategic asset, staying ahead of the curve and leading the next wave of IoT innovation.
Telenor IoT’s AI-Powered Service Operations Center
1 billion
Real-time events processed daily
3,600
Active AI models, continuously trained to detect anomalies
99%
Telenor IoT’s SOC is designed to provide unparalleled service to customers, utilizing AI and machine learning to process 400 billion real-time events each year across 20 million connected units. The SOC enables proactive detection of disturbances, with 99% of issues identified by AI before they’re noticed by customers.
- 400 billion real-time events processed annually across 20 million connected units
- 99% of issues proactively detected by AI before they affect customers
- Over 3,600 AI and machine learning models trained and updated automatically to enhance precision
- Operates 24/7 to ensure reliable, fast responses for customers
- AWS-powered platform for scalability and flexibility
If handled manually, these processes would require 3,000 human IoT experts working round the clock. Telenor IoT’s platform is built on AWS, providing flexibility and scalability while integrating AI into key business processes. This approach enables Telenor IoT to offer market-leading customer support with faster incident resolution and improved customer satisfaction.
AI-Powered Connectivity Monitoring
IoT Data Driving Positive ROI: Key Use Cases
As IoT adoption continues to grow, businesses are reaping the rewards. According to the IoT Use Case Adoption Report 2024 from IoT Analytics, 92% of enterprises have reported positive ROI from their IoT projects. Between 2021 and 2024, the number of IoT use cases increased by 53%, reflecting the expanding role of IoT in industries such as manufacturing, logistics, and automotive.
Process Automation
One of the most common use cases driving this ROI is process automation. By using IoT devices to monitor and control equipment in real time, businesses can optimize production lines, reduce maintenance costs, and improve overall efficiency. The ability to automate these processes not only saves money but also frees up resources for more strategic initiatives.
Energy monitoring
In industries like manufacturing and logistics, energy consumption is a major operational cost. By monitoring energy usage in real time, companies can identify inefficiencies, reduce waste, and lower their environmental impact—all while saving money.
Automotive Enhancements
IoT data is helping companies enhance vehicle performance through over-the-air firmware updates and real-time diagnostics. The amount of IoT data generated by vehicles is expected to grow significantly, with a 219.4% increase, rising from 18.6 exabytes in 2023 to 59.4 exabytes by 2028. This data helps manufacturers deliver new services, such as in-car infotainment and predictive maintenance, creating new revenue streams while improving customer satisfaction.
Logistics and Fleet Management
IoT data is being used to track inventory in real time, improve fleet management, and enhance supply chain visibility. These insights allow companies to make faster, more informed decisions, reducing delays and optimizing routes to save time and fuel.
The businesses that have embraced IoT are finding that the data it generates is not just a way to optimize existing operations—it’s a powerful tool for creating new business opportunities. As IoT technology continues to evolve, we expect to see even more companies driving positive ROI using connected devices and real-time data insights.
IoT Case Studies
Tech Focus: Tapping IoT Data’s Potential
The sheer volume of IoT data presents challenges, but it also offers enormous potential. Telenor IoT’s Data Analytics Platform processes over 1 billion events each day, equipping businesses with the tools they need to generate valuable insights.
- Integrates data from traffic records, SIM orders, and real-time usage
- Supports both standard and sophisticated analytics, from connectivity usage to network performance
- Enables customized reporting across various markets and user behaviors
- Uses AI and machine learning to detect anomalies and optimize performance, allowing for scalability and faster decision-making
This platform provides businesses with maximum flexibility and control over their IoT data, helping them unlock valuable insights for growth and optimization.
Analytics & Insights: Your Source for Smarter IoT Decisions
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