MTN Nigeria is making a strategic move to position itself as a leader in the rapidly growing Internet of Things (IoT) sector.
The General Manager, Enterprise Sales at MTN Nigeria, Febisola Oyeniyi, underscored the transformative potential of IoT during a keynote address at the IoT West Africa Exhibition and Conference.
According to her, MTN is well positioned to support and enable transformation of IoT space; MTN has started in business transformation and ecosystem orchestrator, best in class infrastructure, robust IoT platform and business transformation.
“Whatever your business needs are we have solutions for you. We can manage and scale your business,” Oyeniyi said.
Oyeniyi, drawing on research from McKinsey & Company, painted a picture of a future brimming with opportunity. By 2025, the global economy could see a staggering $11.1 trillion injection from IoT, with a significant chunk – a whopping 40% – expected to flow from developing nations like Nigeria. This windfall will be felt across various sectors, with logistics (40%) and industries (30%) reaping the biggest rewards.
She delved into specific market opportunities, highlighting the growing trend of wearable devices in health and fitness, the rise of smart city solutions, and the potential applications of IoT in agriculture, smart grids, healthcare, oil and gas, and even waste management.
Oyeniyi emphasized that Nigeria has the potential to become a major player in this space, with a market value estimated at $4.39 billion annually.
Security concerns are a major driving force behind IoT adoption, Oyeniyi explained. Businesses and individuals are increasingly seeking ways to bolster their security posture, and IoT offers a compelling solution. Revenue growth is another key motivator, with companies looking to leverage IoT to personalize offerings and make data-driven decisions that optimize their operations.
However, Oyeniyi acknowledged that there are hurdles to overcome. Macro and micro-economic factors, along with an unstructured ecosystem and complex business models, can pose challenges. Connectivity and interoperability issues, as well as data security concerns, add another layer of complexity. The fragmented nature of the Nigerian market also presents a unique obstacle.
Despite these challenges, Oyeniyi remains optimistic about the future of IoT in Nigeria. She identified significant vertical market opportunities, particularly in smart cities. Solutions for traffic management, waste management, and overall public safety hold immense potential in this arena. Other specific use cases Oyeniyi highlighted include real-time vehicle tracking and route optimization for fleet management, the implementation of smart grids, and cost-saving solutions for the oil and gas sector.
MTN Nigeria is confident in its ability to play a pivotal role in the evolution of the IoT space. The company boasts a proven track record in business transformation, a well-developed strategy for ecosystem orchestration, best-in-class infrastructure, a robust IoT platform, and extensive expertise in business transformation.
By leveraging these strengths, MTN aims to become a trusted partner for businesses looking to harness the power of IoT and unlock new avenues for growth.