Internet of Things will drive growth for the internet space in future, as it holds tremendous potential, according to a report.

IoT is a system of interrelated computing devices with the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

Mahindra Comviva, a global leader in mobility solutions, has released the report based on a survey -- 'the Business of Tomorrows' that was carried out in collaboration with Mobile World Live, an online communication hub for the global mobile industry.

As per the survey, 75 percent of respondents said IoT will drive the growth for internet space in future, while 32 percent felt that smart city deployment could emerge as the biggest usage case for 5G, enabling cities around the world to connect to various types of infrastructure and amenities.

Customer experience management will form an integral part of this strategy too, as identified in the survey.

Operators across various segments, including the overall industry landscape, mobile payments, 5G, content, customer analytics and mobile broadband were surveyed.Commenting on the study, Manoranjan Mohapatra, chief executive officer of Mahindra Comviva, said the opportunities in digital content and mobile financial services, fueled by booming demand for mobile data and under pinned by the promise of 5G, operators clearly have a major role in shaping the Business of Tomorrows.

“We are committed to working in this ecosystem to drive future readiness of the operators, leading to the next level of industry transformation,” he said.

There is also a strong likelihood that operators will start to invest, or step up their interests in solutions that monitor how people are dealing with an ongoing transformation.

Sixty-three percent of respondents expect investments in proactive customer experience, due to the rise of predictive, descriptive and prescriptive analytics.

As per the survey, there is no clear winner in the mobile payments space. A number of segments have emerged in the field, and while technology continues to evolve, financial inclusion for the masses must remain the key benefit and priority.

The reports stressed that considering the huge scale and additional benefits that mobile services can provide, mobile broadband needs to be made more affordable to truly achieve global scale and mass adoption. Operators will need to fine-tune their strategies to address challenges like affordability, CAPEX and OPEX related issues, customer retention, and a comprehensive strategy to cash in on the data opportunity, according to the survey.