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That is the IoT or industrial IoT?
The answer is the same telematic, telemetry, m2m communication between the sensors servers and actuators.
Another question: that new, if it is so well known?
New is the business idea and the business-model, where the telecom operator anymore not sell the communication traffic, but the service.
And the very important is that whey do it together not only with the partners, but with the competitors.
Today the same business-model used by video-content provider, like the Netflix! This is the OTT (Over the Top), more information you can find in the wikipedia.