From our phones, we can turn off the lights, set a timer for the morning’s coffee, arm security systems and check locks–to name a few. IoT devices have found their way into 71% of U.S. homes, a significant presence in its own right. However, with an anticipated growth of 28.7% in the next five years, it’s clear that the Internet of Things still has yet to reach its peak.
While this explosion of new products is ripe with possibility, it also tests the limits of antique billing structures and may require a fresher approach in order for businesses to capitalize on all the unique opportunities IoT provides.
In this article, we examine five IoT billing challenges, along with solutions that may better address the particulars of this significant new technology.