This paper by Dean Bubley, the founder of Disruptive Analysis, explores emerging intersections between IoT and real-time communications. It frames and segments the use cases, and examines the opportunity for telecom-type services, especially where enabled by NFV and cloud-based IoT services platforms. The reduced cost and greater flexibility of such platforms may transform telcos’ M2M business units, and enable the emergence of other service providers focused on IoT. We may see new MVNO and PaaS players emerge, taking advantage of more flexible infrastructure. IMS may itself move beyond its SIP roots, to embrace a wider diversity of IP “sessions” and M2M messaging functionality.