IoT Telecom Services Market 2021 By Latest Innovation, Business Trends, Pricing Analysis, Emerging Technology, Prominent Players, New Project Investment, Development Status and Forecast to 2030 - Newshunt360
The global IoT telecom services market was valued at USD 3.45 billion in 2017 and is expected to reach USD 22.57 billion by the end of forecast period with a CAGR of 36.96%.Increasing application of IoT telecom services in various industries due to need for enhanced connectivity will drive the demand during the forecast period. Emerging applications such as smart buildings, industrial automation, and vehicle telematics will further boost the growth of IoT telecom services during the forecast period. Moreover, low-power, wide-area (LPWAN) technologies are expected to replace short-range wireless and mobile WAN technologies including Bluetooth, Wi-Fi and Near Field Communication (NFC) which are used for short range.
Some of the existing short range technologies are not compatible with IoT applications owing to reasons such as power consumptions levels, high costs and complex infrastructure. This is creating opportunities for LPWA technologies. Growing adoption of telco cloud is also expected to boost the demand for IoT telecom services market globally. However, factors such as lack of regulations for spectrum allocation and billing problems between OTT players and telecom operators can hamper the growth of IoT telecom services market.
Among the service type segments, M2M billing segment is the largest revenue generating segment and is expected to continue its dominance throughout the forecast period. M2M billing management services are used for tracking the usage of IoT services subscribed by M2M connected devices users. Among application segment, industrial automation is expected to grow at a significant CAGR during the forecast period.
By component, the market is segmented into connectivity technology, network management solution and services. By connectivity technology, the market is segmented into cellular technologies, Low-power Wide Area Network (LPWAN), narrowband-IoT (NB-IOT), radio frequency-based, others. By network management solution, the market is bifurcated into network performance monitoring and network optimization, network traffic management, network security management, and others.
By services type, the market is segmented into Business Consulting Services, Device and Application Management Services, Installation and Integration Services, IoT Billing and Subscription Management, and M2M Billing Services. By application, the market is bifurcated into smart buildings, capillary network management, industrial automation, vehicle telematics, transportation and traffic management, energy and utilities, smart healthcare, and others.
The global market for IoT telecom services is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of IoT telecom services market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, North America dominated the IoT telecom services market in 2017. Growth of IoT in the US due to rapid adoption of connected devices and technologies is one of the major drivers contributing to the IoT telecom services market in North America. Europe was the second largest market for IoT telecom services in 2017 and Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
The global IoT telecom services market was valued at USD 3.45 billion in 2017 and is expected to reach USD 22.57 billion by the end of forecast period with a CAGR of 36.96%.
The key players in the IoT telecom services market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – AT&T, Inc. (US), Verizon Communications, Inc. (US), Ericsson (Sweden), Huawei Technologies Co., Ltd. (China), Sprint Corporation (US), Deutsche Telekom AG (Germany), Vodafone (UK), Aeris (France), and T-Mobile (US). These players contribute a major share in the growth of IoT telecom services market.Apart from the top key players, there are other players that contribute to the market growth. These include China Mobile (China), China Telecom (China), Telia (Sweden) and Swisscom AG (Switzerland), and others.
Network-as-a-service providers
IoT application vendors
IoT and M2M platform vendors
Embedded systems vendors
Third party system integrators