Furthermore, by 2021, it is predicted that over 85 per cent (or USD 1 trillion) of enterprise loT project investments will be based on net new technology spending (IDC, 2018). However, the greater share of revenue opportunities does not reside in pure connectivity play, but in other growth areas such as platforms, applications and services (e.g. big data services, security, and industrial loT applications). For instance, between 2005 and 2015, the price of 2G M2M modules decreased substantially, from around USD 55 to USD 10 (GSMA, 2015c), and continued to decline thereafter (GSMA, 2018d).