Global IoT Telecom Services Market Growth Drivers 2024, Forecast To 2033
21 Feb, 2024
The IoT telecom services market has experienced exponential growth, ascending from $18.76 billion in 2023 to $25.79 billion in 2024, with a striking 37.5% CAGR. Historic growth factors include the proliferation of connected devices, real-time data analytics demand, 4G/LTE network emergence, smart city initiatives, and industrial IoT applications. Projections indicate sustained exponential growth, reaching $82.26 billion in 2028, driven by 5G network deployment, expanded edge computing, low latency and high bandwidth demand, IoT expansion in various industries, and the need for cost-effective telecom services. Major trends include AI and machine learning integration, convergence of IoT and blockchain, IoT security solutions, industry-specific IoT telecom services, and integration with AR and VR.
Global IoT Telecom Services Market Key Driver
The adoption of 5G networks worldwide is propelling the IoT telecom services market. The increased speed, bandwidth, and lower latency offered by 5G networks enhance communication for connected devices. With 5G adoption expected to triple by 2024, telecom companies are poised to benefit from improved asset management and remote system monitoring options.
Get A Free Sample Of The Global IoT Telecom Services Market ReportGlobal IoT Telecom Services Market Segments
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
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
Major IoT Telecom Services Industry Players
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
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IoT Telecom Services Market Overview
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.
IoT Telecom Services Global Market Report 2023 provides data on the global iot telecom services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The iot telecom services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.