While the Mobile World Conference is generally used as a way for companies to show off their wares, important studies are also being released at this year's MWC. One of the biggest, put together by GSMA (News - Alert) and Machina Research, details just how much business will be affected by internet connections over the next 10 years.
According to the report, by the year 2020, more than 24 billion devices will be connected across the globe. The report takes a look at the number of different ways companies can take advantage of the Connected Life.
GSMA and Machina's study also says that if the industry can open up several new revenue streams, create new business models and improve the delivery of current services then this particular business sector could end up generating as much as $4.5 trillion by 2020.
One of the biggest ways companies could find their revenue increasing is by taking advantage of a particular device that hasn't really been tapped yet. GSMA believes that the connected car will play an integral role in the tech business sector over the next 10 years and that car companies and application developers alike should take a long hard look at how best to capitalize on the connected car's growing interest.
Of course, there have been some maneuvers to take advantage of this technology, with a wide array of Bluetooth advances as well as in car charging systems and the like. This still doesn't get at the heart of what could be a hugely successful sector if it becomes that much easier to get a car connected to the Internet in a way that means that consumers will take advantage daily.
Cars and driving appear to be a rather large portion of the Connected Life according to GSMA. The company put together a list of their estimate top applications in 2020 and connected cars take the top spot, with Pay-as-you-drive car insurance, new business models for car usage, traffic management, and electric vehicle charging all also showing up on the top 10.
Edited by Jennifer Russell