Growing at a CAGR of 31.1% | The IoT Telecom Services Market Share Reach USD 254.2 Billion by 2031

According to the report published by Allied Market Research, " Growing at a CAGR of 31.1% | The IoT Telecom Services Market Share Reach USD 254.2 Billion by 2031. 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 as increase in adoption of technological advancement and innovation and IoT powered smart cameras for security primarily drive the growth of the IoT telecom services market. However, lack of guidelines for spectrum allocation hampers the market growth to some extent. Moreover, adoption of blockchain technology is expected to provide lucrative opportunities for the IoT telecom services market forecast.

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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 network management solution, the network performance monitoring and optimization segment held more than one-third of the global IoT in telecom services market share in 2021, and is expected to dominate by 2031. The network security management segment, on the other hand, would cite the fastest CAGR of 32.7% throughout the forecast period. The network traffic management segment is also analyzed through the report.

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.

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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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Key Findings of the Study

● By connectivity, the cellular technology segment accounted for the largest IoT telecom services market share in 2021.

● On the basis of network management solution, the network performance monitoring and optimization segment generated the highest revenue for IoT telecom services industry in 2021.

● By service type, the business consulting services segment accounted for the largest share in IoT telecom services market forecast.

● On the basis of application, the smart building and home automation segment generated the highest revenue in 2021.

● Region-wise, North America generated the highest revenue in 2021

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