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IoT Telecom Services Market Size, Share, Competitive Landscape and Trend Analysis Report by Connectivity, by Network Management Solution, by Service Type, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2032

IoT Telecom Services Market Size, Share, Competitive Landscape and Trend...

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IoT Telecom Services Market Size, Share, Competitive Landscape and Trend Analysis Report by Connectivity, by Network Management Solution, by Service Type, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2032
IoT Telecom Services Market Size,...
Report Code
RO9/128/1203

Publish Date
30/Apr/2024

Pages
200
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The global IoT telecom services market was around US$ 29.9 billion in 2023 and is estimated to reach US$ 342.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 31.1% during the forecast period from 2024 to 2032.

The IoT telecom services market has been rising significantly because of the huge adoption of IoT devices and new technological improvements. IoT platforms are used for a variety of corporate objectives and application cases. Thus, adopting forward-thinking, novel, and customized strategies is necessary.

Factors Influencing Market Growth

- Without delaying communication speed or restricting capacity, IoT protocols and 5G interconnection may disclose information from thousands of devices to multiple consumers. These factors propel the market and are expected to grow further in the future.

- The surge in growth in the adoption of technological improvement and the innovation and IoT-powered smart cameras for security primarily propel the growth of the IoT telecom services market.

- The lack of guidelines for spectrum allocation hinders the growth of the IoT telecom services market to some extent.

- The adoption of blockchain technology is anticipated to offer lucrative opportunities for the IoT telecom services market forecast.

Impact of COVID-19

The impact of COVID-19 has influenced all industries majorly. Also, IoT telecom services have been severely influenced. This COVID-19 pandemic has imposed governments, and enterprises to change their priorities and operating modules. Incorporating new technologies for smart expansion is the major driver of the market. In addition, IoT's capacity to support millions of interconnected devices and their energy efficiency also increase as IoT inventions are introduced.

Regional Analysis

In 2023, North America dominated the global IoT telecom services market in terms of revenue and is expected to maintain its position during the forecast period, because of the rise in awareness regarding data security among insurance firms, banks, and financial institutions and the increase in several cyberattacks helping the development of the IoT telecom services market.

Also, Asia Pacific is anticipated to notice significant growth during the forecast period, because of the adoption of security solutions to execute new technologies and to overcome online frauds, which is anticipated to propel the growth of the IoT telecom services market in this region.

Leading Companies

The leading prominent companies profiled in the global IoT telecom services market are: -

- Telstra
- Orange
- Sequans Communication
- Telus Corporation
- MediaTek Inc
- LM Ericsson Telephone Company
- Vodafone Idea Ltd
- Sierra Wireless
- Puresoftware Ltd
- T-Mobile
- Other prominent key players

Segmentation Outline

The global IoT telecom services market segmentation focuses on Connectivity, Network Management Solution, Service Type, Application, and Region.

Segmentation based on Connectivity

- Cellular Technology
- LPWAN
- NB-IoT
- RF-Based

Segmentation based on Network Management Solution

- Network Performance Monitoring and Optimization
- Network Traffic Management
- Network Security Management

Segmentation based on Service Type

- Business Consulting Services
- Installation and Integration Services
- Devices and Applicaton Management Solution
- IoT billing and subscription management
- M2M Billing Management

Segmentation based on Application

- Smart Building and Home Automation
- Capillary Network Management
- Industrial Manufacturing and Automation
- Vehicle Telematics
- Energy and Utilities
- Smart Healthcare

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

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