Enterprises in the Nordic countries see the rollout of 5G mobile services, with their faster networking speeds, as a catalyst for the broader adoption of Internet of Things (IoT) solutions, according to a new report published by Information Services Group.
The 2019 ISG Provider Lens IoT — Transformational Services, Technology, Solutions, Platforms and Industries Report for the Nordics sees the IoT gaining momentum in the Nordic region, with the technology being deployed or tested in the manufacturing, healthcare, smart buildings and connected car industries.
“The IoT will help enterprises in these and other industries save money, make better business decisions, create operational efficiencies and improve their processes,” said Barry Matthews, partner and head of ISG North Europe. “Consumers will benefit from the enhanced user experiences enabled by the IoT, which in turn will drive new revenue streams for Nordic businesses.”
The launch of 5G technologies will open up a range of new use cases for the IoT in the Nordics, the report says. Leading telecom companies in the region also are ramping up their Narrowband IoT (NB-IoT) deployments, which allows users to transmit a small amount of data from multiple devices. NB-IoT consumes little power, enables long battery life and can address several connectivity needs, the report notes.
Governments in Denmark, Finland, Iceland, Norway and Sweden are eager to adopt the IoT and other technologies as a way to improve the lives of citizens, the report adds. In particular, governments in the region are collaborating through the Nordic Smart City Network, which helps them create best practices for smart city projects and urban development. Cybersecurity remains of paramount concern, the report notes, with the governments of Norway, Sweden and Finland, in particular, planning to invest in national security infrastructures to prevent cyberattacks.
Nordic enterprises, meanwhile, are looking for the right partners to ensure successful IoT deployments. Enterprises in the region are investing heavily in IoT projects, and they want vendors that can help them with the technical details and with strategies for entering the IoT market to achieve commercial success. Enterprise customers are looking at the IoT as a platform for change that will help the region become more connected and improve collaboration, the report says.
The report sees connected vehicles and smart buildings as the next big growth areas for the IoT in the Nordic region. Growth in the connected vehicles segment will be driven by usage-based insurance, vehicle diagnostics and vehicle-based computing platforms, the report says. Interest also is growing in intelligence transportation systems.
In the smart buildings space, the focus is on automation and security, with interest in using the technology in both commercial and residential buildings. IoT service providers should look for ways to integrate smart buildings and homes with the surrounding infrastructure to create smart cities, the report recommends.