TeliaSonera is aiming to generate SEK 1 billion (€108 million) in revenues from M2M by 2018, its CCO has predicted.

Helene Barnekow (pictured), who has been in post just over six months, said the “bullish” target was part of a new strategic agenda the company is pursuing.

The operator is on track to report M2M sales of around €30 million this year, Barnekow told delegates at Ericsson’s annual Business Innovation Forum this week.

The more than four times increase by 2018 will be based around both horizontal offerings and selected verticals such as automotive, consumer gadgets, healthcare and buildings.

Barnekow said M2M revenues are growing 30 percent year-on-year in the Nordic region, which is twice as fast as the rest of the world.

The operator is aiming to increase the average number of connected units their customer base has from 0.9 today to 2.7 by 2017. “Customers want more products and services, and they want them in real time,” Barnekow said.

In September, research house Ovum forecasted that operators will achieve sales of $25 billion (€19 billion) within a wider M2M market worth $66 billion (€50 billion) by 2019.

Last month, TeliaSonera reported that overall revenues rose in the third quarter thanks to the performance of its operations in Sweden, particularly fibre uptake.

It was the first bit of good news the operator has had for a while, having seen several high profile departures during the past 12 months as a result of investigations into its business practices in its Eurasian operations.

TeliaSonera unveiled a new operating model earlier this year. Barnekow said the operator’s new strategic agenda was focused on enhancing its core networks and exploring new opportunities.

Alongside M2M, Barnekow highlighted music, financial services, TV and security as areas TeliaSonera is exploring.

She added that giving consumers the connected lifestyle they want requires lots of investment, and that TeliaSonera had upped R&D budgets.

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