Australians are well and truly embracing the Internet of Things, with over 3.2 million devices now connected to our IoT network and an average of 2000 more being added every day.
At Telstra Vantage 2019 this week, we’ve been showcasing how these connected ‘things’ are assisting to increase safety, reduce costs and help to make our customers’ experiences easier and better from start to finish. We took the opportunity to demonstrate our various IoT platforms including Track and Monitor, smart spaces, our IoT Connection Manager, and the Bluetooth finding network that powers our Telstra Locator.
There’s a huge opportunity for IoT to transform the way that businesses operate in Australia. More than half of all Australian organisations surveyed are confident that an IoT strategy would generate significant revenue increases for their business*, while over 70 per cent agree that IoT can increase their employees’ productivity and lead to more positive experiences in the workplace*.
It’s this strong positivity and endorsement from our enterprise business partners that has helped our IoT business revenue grow by nearly 20 per cent in FY19. We’ve made this possible by investing in and building the largest IoT network in the country, which means Australians can make the most of this new world of connectivity right now.
We also know that the number of IoT devices being connected each day is growing at a rapid pace. Connected vehicles are an exciting IoT use case in our portfolio right now, but we’re also seeing a huge range of high-tech devices like solar panels, humidity sensors, traffic cones, buses, whitegoods and even garbage trucks being connected to our network – and each one of those contributes data to insights that previously weren’t attainable.
When businesses use IoT to solve traditional problems in new ways, we’re seeing some incredible success stories emerge. National transport company SCT Logistics used our Track and Monitor product across its rail freight and road transport fleet, dropping its loss rate of 3 per cent on average annually straight down to zero in a three-month trial.
Not only is SCT Logistics stemming the $4 million cost of losses each year, but it also hopes to get better usage and utilisation rates out of its assets instead of letting them sit idle in customers’ warehouses and shipping yards. After this successful trial, SCT Logistics is now rolling out Track and Monitor across its 1500 non-powered assets like trailers and rail wagons, and integrating that data with its own systems. Despite the scale of this full roll-out, the initial cost is expected to be offset within three years through the efficiencies and constant visibility that our IoT network makes possible.
By the end of the financial year, we expect to launch more devices in our Track and Monitor range for enterprise-scale use, including new asset tracking units with both LTE-M IoT and Bluetooth connectivity, as well as GPS, Wi-Fi and Bluetooth for geolocation. This new unit will combine the strength of LTE-M for detailed critical tracking needs and the low power benefits of Bluetooth tracking in one device.
Our Bluetooth finding network community has grown impressively over the last few months, too, with an increase from 7.5 million data points in February of this year to over 25 million in July. Track and Monitor customers, Telstra Locator customers, Telstra payphones, opted-in Telstra 24×7 app users and our nationwide fleet of Telstra technician vans all contribute to the density and quality of our Bluetooth community, and we’ve been pleased to see this grow as more customers join. We also plan to add Bluetooth locators to future Cab Digital taxis, potentially adding thousands of taxis to securely and anonymously help all our Bluetooth finding network users locate their lost valuables.
We’re well on track to connecting over four million IoT devices by this time next year, and we’re really excited to hear more success stories from our customers as they find new and innovative applications for our nationwide IoT network and the wealth of data and insights that it allows businesses to capture.
* Forrester’s Business Technographics Global Networks And Telecommunications Survey, 2019