IoT Telecom Services Market 2023 : Hyper Growth Recorded in the Future, Claims Report

According to the report published by Allied Market Research, The IoT Telecom Services Market 2023 : Hyper Growth Recorded in the Future, Claims Report. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Surge in adoption of IoT devices & new technological advancements and growing preference toward gathering data in real-time drive the growth of the global IoT in telecom services market. By application, the smart building and home automation segment held the major share in 2021. By region, Asia-Pacific would display the fastest CAGR by 2031.

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The global IoT telecom services market was valued at USD 17.4 billion in 2021, and is projected to reach USD 254.2 billion by 2031, growing at a CAGR of 31.1% from 2022 to 2031.

The global loT telecom services market is segmented on the basis of connectivity, network management solution, service type, and application. On the basis of connectivity, it is divided into cellular technology, LPWAN, NB-IoT and FR-Based. On the basis of network management solution, it is classified into network performance monitoring and optimization, network traffic management and network security management. On the basis of service type, it is divided into business consulting services, devices and application management solution, installation and integration services, IoT billing and subscription management and M2M billing management. On the basis of application, it is classified into smart building and home automation, capillary network management, industrial manufacturing and automation, vehicle telematics, energy and utilities, smart healthcare and others (transportation). Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By service type, the business consulting services segment contributed to nearly one-third of the global IoT in telecom services market share in 2021 and is projected to retain its dominance throughout the forecast period. The IoT billing and subscription management segment, on the other hand, would manifest the fastest CAGR of 33.7% during the forecast period. The others segment is also assessed through the study. The other segments assessed through the report include installation and integration services, devices and application management solution, and M2M billing management.

By application, the smart building and home automation segment contributed to more than one-fifth of the global IoT in telecom services market revenue in 2021 and is projected to rule the roost throughout the forecast period. Simultaneously, the smart healthcare segment would portray the fastest CAGR of 33.9% from 2022 to 2031. The other segments assessed through the report include capillary network management, industrial manufacturing & automation, vehicle telematics, and energy and utilities.

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Based on region, the market across North America generated more than one-third of the global IoT in telecom services market share in 2021 and is anticipated to retain the lion's share by 2031. The Asia-Pacific region, on the other hand, would portray the fastest CAGR of 35.0% during the forecast period. The other provinces analyzed through the report include LAMEA and Europe.

The key market players analyzed in the global IoT in telecom services market report include Sierra Wireless, LM Ericsson Telephone Company, T-Mobile, Orange, Vodafone Idea Ltd, MediaTek Inc, telstra, Sequans Communications, puresoftware ltd., and TELUS Corporation.

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Covid-19 Scenario-

● During the pandemic, IoT proved to be highly beneficial for the telecom sector to enable access from a remote location, which impacted the global IoT in telecom services market positively.

● Apart from helping in cost reduction, it also gave way to smart development. This drift has continued post-pandemic as well.

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