 massive IoT can be for traditional mobile operators and cellular equipment manufacturers. Device cost is another big challenge. While 3GPP has made great efforts in reducing costs for IoT technologies such as NB-IoT, the cellular industry is known for producing technolo- gies with high performance and high cost. Downsizing such technologies to low perfor- mance, low power, and, most importantly, low-cost use cases is a major challenge, especially taking into account the availability of cheaper alternatives designed specifically for mas- sive IoT. Mobile operators will have a certain advantage compared with these alternatives in terms of coverage and reliability, as they can use licensed spectrum and in some cases would be able to rely on their existing networks to provide nation-wide coverage, but the business model issue still needs to be addressed. While there are many advantages to licensed spectrum, which is often assumed to be used by 5G technologies, it comes with a cost. Mobile operators bearing the costs of 5G spectrum will look for new ways to monetize their investment by entering new markets and seeking new use cases. The issue is that while at least some of these use cases (e.g. V2X) can benefit from increased reliability of operation in licensed spectrum, the business model and operational complexity of (potentially multiple) mobile operators operating a V2X network in the same geographical area are significant. In such cases, a simpler technology, operating in a somewhat less reliable unlicensed band may prove to be easier to deploy and monetize. Last but not least is the challenge of 5G network deployment and site acquisition in partic- ular. In order to deliver Gbps speeds, dense network deployment of a large number of small cells is required. Even before 5G, network densification could have improved network speed dramatically; yet very few operators deployed small cells on a large scale. This is primar- ily due to difficulty and cost of massive cell site acquisition and maintenance, which will re