Overview and Scope
The IoT telecom services refer to asset management and remote system monitoring, the most prominent IoT telecom application cases. Telecom firms link their different physical assets to the cloud and remotely monitor their operations, conduct firmware upgrades, investigate problems, and keep track of inventories. They are used to connect diverse physical assets to the cloud and remotely manage their operations.
Sizing and Forecast
The iot telecom services market size has grown exponentially in recent years. It will grow from $18.76 billion in 2023 to $25.79 billion in 2024 at a compound annual growth rate (CAGR) of 37.5%. The growth in the historic period can be attributed to proliferation of connected devices, demand for real-time data analytics, emergence of 4g/lte networks, increased adoption of smart cities initiatives, growth in industrial iot applications.
The iot telecom services market size is expected to see exponential growth in the next few years. It will grow to $82.26 billion in 2028 at a compound annual growth rate (CAGR) of 33.6%. The growth in the forecast period can be attributed to deployment of 5g networks, expansion of edge computing capabilities, rising demand for low latency and high bandwidth, continued expansion of iot in various industries, need for cost-effective and efficient telecom services. Major trends in the forecast period include integration of ai and machine learning in iot telecom services, convergence of iot and blockchain technologies, focus on iot security solutions and standards, development of industry-specific iot telecom services, integration of iot with augmented reality (ar) and virtual reality (vr).
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Segmentation & Regional Insights
The iot telecom services market covered in this report is segmented –
1) By Service Type: Business Consulting Services, Device And Application Management Services, Installation And Integration Services, IoT Billing And Subscription Management, M2M Billing Management
2) By Connectivity: Cellular Technologies, LPWAN, NB-IoT, Radio Frequency-Based
3) By Network Management Solution: Network Performance Monitoring And Optimization, Network Traffic Management, Network Security Management
4) By Application: Smart Building And Home Automation, Capillary Networks Management, Industrial Manufacturing And Automation, Energy And Utilities, Smart Healthcare, Other Applications
North America was the largest region in the IoT telecom services market in 2023. The regions covered in the iot telecom services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in adoption of 5G networks across the world will propel the IoT telecom services market during the forecast period. 5G is the 5th generation mobile network for higher speed and responsiveness of wireless networks. With increased 5G network speed, bandwidth, and lower latency, connected devices can communicate effectively, giving telecom companies quicker and better asset management and remote system monitoring options. According to a 2022 study conducted by Verizon, a US-based telecommunications company, and Incisiv, a US-based consumer industry insights company, the overall 5G adoption stands at about 13%, which is expected to triple by 2024. Therefore, increasing the adoption of 5G networks will drive the IoT telecom services market.
Key Industry Players
Major companies operating in the iot telecom services market report are AT&T Intellectual Property, Verizon Communications Inc., Deutsche Telekom AG, Huawei Technologies Co. Ltd., Aeris Communications, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, PTC Inc., MongoDB Inc., Spectrum Enterprise, Samsara Networks Inc., Sierra Wireless Inc., GE Digital LLC, Telit Communications plc, Bosch IoT Sensor Company, SAP SE, Andersen Inc., ScienceSoft USA Corporation, Vention Inc., Altoros Americas LLC, Oxagile LLC, SumatoSoft LLC, Innowise Group LLC, Style Lab IoT Software Company, HQ Software Industrial IoT Company, ARM IoT Security Company, Siemens IoT Analytics Company
The iot telecom services market report table of contents includes:
1. Executive Summary
2. IoT Telecom Services Market Characteristics
3. IoT Telecom Services Market Trends And Strategies
4. IoT Telecom Services Market – Macro Economic Scenario
5. Global IoT Telecom Services Market Size and Growth
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26. South America IoT Telecom Services Market
27. Brazil IoT Telecom Services Market
28. Middle East IoT Telecom Services Market
29. Africa IoT Telecom Services Market
30. IoT Telecom Services Market Competitive Landscape And Company Profiles
Top Major Players:
- AT&T Intellectual Property
- Verizon Communications Inc
- Deutsche Telekom AG
- Huawei Technologies Co. Ltd.
- Aeris Communications
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