A new year has barely settled in, and already, the IoT (Internet of Things) is fueling changes in the telco industry. According to Gartner, the 8.4 Billion connected "Things" in use today will balloon to an unprecedented 20.4 billion by 2020. The largely consumer-fueled growth will be driven by three regions: North America, Western Europe, and mainland China.

Advances in technology can often be a great leveller in industries, and the telecoms industry is no exception. The availability of new technologies in various markets has changed the expectations of consumers and businesses irrevocably.

Now that we understand the challenges for today's telcos, we understand that, in order to succeed, telcos need to embrace the changes and challenges within their market. Yes, consumers want different solutions and services than they did a decade ago. Yes, voice calls and SMS messaging will no longer be the core component of increasing ARPU. Yes, the Over-The-Top (OTT) players have changed the game with their innovative eye and quick-to-market solutions.

Advances in technology are changing the world, and the telecoms industry is no exception. The growth of the Internet of Things (IoT), 4G, and even 5G, as well as changes in consumer behavior and expectation, have turned the traditional telecom business model on its head.

The proliferation of the Internet of Things (IoT) comes with countless potential benefits. Baby monitors, smart meters, even the connected car are all made possible by IoT technology.