Telecommunications companies have seen their business model undermined. And yet, they have the opportunity to make the most of a new and promising market: the Internet of Things. McKinsey expects the Internet of Things to create 2,7 trillion dollars in value by 2025.
Let’s paint a picture of how large players in telecommunications used to make their money 20 years ago. Large Telecommunications companies like France Telecom, Telecom Italia, Vodafone, AT&T and Deutsche Telekom among others, would secure their revenue based on a fee for a communication, according to Gilles.