Virtual satellite operator Wyld Networks have received its first satellite IoT-data from Italy. Moving forward this data is revenue generating. Net Reply are part of the Reply SPA conglomerate focused on network innovation within infrastructure, based in Italy, the UK, and the US with revenues of over Euro 2 billion in 2023.
Revenue in the Italian Internet of Things (IoT) market is expected to show an annual growth rate (CAGR 2024-2028) of 9.34%, resulting in a market volume of US$32.73bn by 2028. However, lack of coverage for sectors such as utilities, energy and agriculture is holding back IoT adoption in non-urban settings. Wyld Networks and Net Reply are addressing this gap by combining Wyld’s satellite IoT connectivity with Net Reply’s extensive IoT ecosystem.
Net Reply develop solutions focussed on network innovations and are based in Italy, the UK and the US. They support customers facing network challenges associated with digital transformation by defining, trialling and commercializing IoT solutions and delivering IoT data to increase productivity, environmental sustainability and energy efficiency.
IoT technology plays a pivotal role in realizing objectives such as waste reduction, preservation of water and natural gas resources, and the efficient utilization and distribution of safe energy. These devices empower industries to access difficult to reach data, to remotely manage utilities, and to prevent leakages. Beyond these functions, IoT technologies also enhance utility management efficiency, bolster safety measures, and mitigate human-induced environmental impacts.
“Mass deployment of IoT sensors and devices in Europe continues its rapid growth,” said Alastair Williamson, CEO of Wyld Networks. “We are delighted to be receiving data from Italy for our partners at Net Reply as we look specifically at monitoring utilities assets at scale.”
For further information, please contact:
Alastair Williamson, CEO Wyld Networks
E-mail: alastair.williamson@wyldnetworks.com
Tel: +44 7 824 997 689
About Wyld Networks AB
Wyld Networks develop and sell innovative wireless technology solutions that enable affordable connectivity anywhere in the World, addressing the problems for businesses and people regarding the lack of global mobile network coverage. The solutions are mainly targeted to wireless connectivity for the Internet of Things (IoT) and people.
Wyld Networks Ltd was formed in Cambridge, UK in 2016 and is a wholly owned subsidiary of Wyld Networks AB.
The Wyld Networks share (WYLD) is traded on the Nasdaq First North Growth Market. Certified Adviser is Mangold Fondkommission AB (tel +46 8-5030 1550, email ca@mangold.se).
Read more on www.wyldnetworks.com
