Are Telco Companies prepared to take the lead in Bangladesh's growing IoT market?

The level of internet usage in Bangladesh has experienced a remarkable increase. Due to the availability of cost-effective mobile data plans and the growing number of people using smartphones, there is a significant increase in the number of individuals accessing the online world. The Bangladesh Telecommunication Regulatory Commission (BTRC) said that as of December 2023, there were approximately 131 million internet subscribers in Bangladesh. Mobile internet continues to be the primary means of connection, with a more than 118 million user base. The increase in internet users has resulted in a large market for online services, e-commerce platforms, and mobile applications.

The Internet of Things (IoT) quickly changes many fields worldwide, and Bangladesh is no different. Bangladesh's tech scene is buzzing with ideas about what the Internet of Things (IoT) can do. There is a question: Can telco companies, the backbone of Bangladesh's telecommunications industry, take the lead in this exciting new market as devices get more innovative and talk to each other more?

The Bangladesh Telecommunication Regulatory Commission (BTRC) officially authorized Internet of Things (IoT) technology in 2018. This decision aimed to encourage the implementation of nine specific applications in the country, including smart building, industry automation, smart grids, water management, waste management, smart agriculture, telecare, intelligent transport systems, environment management, smart urban lighting, and smart parking. Most of the labor force is employed in the agricultural sector, where local businesses provide cutting-edge farming solutions. The technologically adept millennials create an inherent need for smart home gadgets and other consumer Internet of Things (IoT) solutions. Promising sectors for implementing IoT in Bangladesh include transportation safety, environmental monitoring, healthcare, utilities, smart grid, and social security management.

Telecommunications companies have an early edge in the IoT race. 

• They possess the necessary infrastructure to link and manage the growing number of IoT devices, including towers and data centres.
• Their expertise in complex networks ensures data transfer reliability and safety, essential for IoT operations.
• Telcos have a large customer base, making them ideal for IoT marketing.

Bangladesh's telecommunication companies (Telcos) significantly contribute to the country's rapidly expanding Internet of Things (IoT) sector. Telecommunications firms (Telcos) aim to transform families, corporations, and sectors nationwide by offering diverse Internet of Things (IoT) products.

Leading telecommunications firms like Grameenphone, Robi, and Banglalink are proactively providing a variety of user-friendly Internet of Things (IoT) solutions. These solutions address a wide range of needs, covering:

• Smart home kits given by telecommunications companies enable the remote management of lighting, thermostats, and household devices.
• Automotive IoT solutions supported by telecommunications companies offer functionalities such as GPS tracking systems and live fuel monitoring for interconnected vehicles.
• Telecommunication companies are improving industrial applications by implementing solutions that rely on sensors.

Positive Aspects for All: A More Brilliant Technological Future

Adoption of Internet of Things (IoT) products provided by telecommunications companies is advantageous for all parties involved:

• Customers: Experience enhanced efficiency, security, and convenience in residences and daily activities.
• Organizations stand to gain advantages such as heightened efficiency, reduced expenses, and enhanced decision-making by leveraging data-driven insights.
• Telecommunications companies should broaden their range of services, explore additional sources of income, and establish themselves as pivotal participants in Bangladesh's digital revolution.

Challenges to Overcome: The Path Forward is Filled with Obstacles

Although there are numerous benefits, telecommunications companies encounter obstacles when striving to become leaders in the Internet of Things (IoT) industry:

• New players, such as tech startups, are possibly emerging with specialized expertise in IoT.
• Building and maintaining the infrastructure for a secure and scalable IoT network requires substantial financial commitment.
• A well-defined and encouraging regulatory framework is crucial for maintaining data privacy and security in the IoT industry.

 

By tackling these obstacles and consistently introducing new ideas, telecommunications companies in Bangladesh can become the primary catalyst for the country's Internet of Things revolution. To effectively spearhead the IoT revolution in Bangladesh, it is imperative to prioritize collaboration. Collaborating with government agencies, industry leaders, and technology innovators will be essential. Telcos in Bangladesh can become the driving force behind a thriving Internet of Things (IoT) ecosystem by utilizing their existing capabilities, embracing innovation, and creating a collaborative atmosphere.