Vodacom is making money from the Internet of Things (IoT) solutions and is now flirting with R500 million in revenues generated from connected devices and sensors.
The company’s IoT led by Deon Liebenberg announced on Monday that IoT revenue jumped 22.4% to R399 million.
Vodacom IoT division attributed the growth to the development of innovative solutions in e-health, connected agriculture, smart metering, and coordination.
The company’s innovative solutions have attracted 3.3 million connections to its IoT platform, reflecting a massive 24.6% rise versus the same period in the previous year.
Vodacom is tapping on this market and providing IoT solutions for the African market.
The IoT is a network of intelligent devices and machines that can monitor themselves as well as gather contextual information (temperature or GPS location, for example) using sensors, and share it with other devices and services. It sees devices and items from watches and fridges to industrial equipment and even irrigation systems at farms become connected to the Internet.
Trends such as connected cars, smart home technology, and connected factories and offices are likely to change our lives dramatically over the next few years. Amid the hype, it’s easy to underestimate the role that a device most of us already own will play in the IoT revolution.
Vodacom seems to be a step ahead of its rival MTN, which is currently not disclosing how much money it is generating from IoT and also mum on the number of connections on its IoT platform.
For now, one can assume that Vodacom is ahead of its competitors.
South Africa’s Telkom announced on Friday that its technology subsidiary BCX is managing about 100,000 Industrial Internet of Things (IIoT) devices and sensors, making Vodacom a leader in IoT connections.