NIGERIA’S INTERNET OF THINGS (IOT) REVENUE HITS $93 MILLION

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It is projected that the revenue in Nigeria this year for the internet of things would be about $93m. This was made known by the managing director of Ericsson Nigeria, Mr Rutgar Reman as published in Thisday of June 26, 2017.

Quoting a report from the International Data Corporation, he also said “with a revenue projection of $93m a substantial amount of the $1.3bn spent on importing milk could be saved through animal tagging”.

According to him, while Nigeria and South Africa will continue to have the highest number of connected devices, the IOT is already taking shape in the rest of the region especially East Africa.

Across Sub-Saharan Africa, it is being projected that cellular IOT connections would grow from 11million in 2016 to 75million connections in 2022.

This presents a huge business opportunity as the IOT provides the means to deliver efficient innovative solutions that meet socio-economic challenges and transform business models to include growth in Sub-Saharan Africa.

Reman identified agriculture, automotive, health, energy, logistics and supply as the industries that would drive the projected revenue generated from the internet of things projects in Nigeria.

In Agriculture for instance, IOT sensors can be deployed to achieve increased yields by compiling soil data to determine potential yield, humidity and harvest time among other critical data.

Monitoring sensors can also be embedded on cattle to track average milk production and with this data, best producers can be determined and their living conditions optimized for greater output.

Also in the health sector, companies could introduce virtual expert medical interventions for birth, surgeries, etc especially in remote areas to save people cost of transportation and other logistics to seek these enhanced services in other parts of the world.

He however identified some challenges such as standardization and making available the low band spectrum that would enable wider coverage but cheering news is the Nigerian Government’s plan to increase broadband penetration to 30% by 2018 and their renewed commitment to digitalization through the creation of the digital transformation office within the ministry of communication.

 

social-media-logos.png  @bslbng

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