Press release
Prominent IoT Telecom Services Market Trend for 2025: Technological Advancements Driving Innovation In IoT Telecom Services Market
The anticipated rise in the global uptake of 5G networks is poised to significantly boost the market for IoT telecom services throughout the forecasted timeline. 5G refers to the fifth-generation cellular network technology that provides superior speed and reactivity of wireless networks. The enhancement of network speed, bandwidth, and reduction in latency associated with 5G, enables seamless communication between interconnected devices. This provides telecom corporations with faster, more efficient methods for asset management and remote system surveillance. A research exercise conducted by Verizon - a US-based telecom provider - and Incisiv - a leading consumer industry information firm - in 2022, found that overall 5G adoption is approximately 13%. This figure is projected to triple by the year 2024. Consequently, the escalating uptake of 5G networks will act as a catalyst for growth in the IoT telecom services market.
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What growth opportunities are expected to drive the iot telecom services market's CAGR through 2034?
The market for IoT telecom services has experienced substantial growth over the past few years, increasing from a valuation of $25.33 billion in 2024 to an expected $34.52 billion in 2025, signifying a compound annual growth rate (CAGR) of 36.3%. Elements contributing to this growth during the previous period include the rapid spread of interconnected devices, the necessity for immediate data analysis, the rise of 4G/ITE networks, the growing implementation of smart city projects, and the expansion of industrial IoT applications.
In the coming years, a significant surge is anticipated in the size of the IoT telecom services market, with projections estimating it to reach $108.77 billion in 2029, growing at a compound annual growth rate (CAGR) of 33.2%. The anticipated growth during the forecast period can be credited to several factors like the launch of 5g networks, the augmentation of edge computing abilities, increasing demand for high bandwidth and low latency as well as the continuous expansion of IoT in a variety of industries and the need for cost-effective, efficient telecom services. The forecast period will also witness major trends such as the incorporation of artificial intelligence and machine learning into IoT telecom services, the amalgamation of IoT and blockchain technologies, emphasis on IoT security solutions and standards, the creation of industry-specific IoT telecom services, and the integration of IoT with augmented reality (AR) and virtual reality (VR).
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What are the emerging trends shaping the future of the iot telecom services market?
The flourishing of technology is a primary trend observed within the IoT telecom services market. Many dominating market players have their sights set on the development of groundbreaking technologies to bolster their product portfolios, including all-encompassing Internet of Things (IoT) solutions. For example, Tele2 AB, a telecommunication services company based in Sweden, rolled out its VoLTE (voice over LTE) service for IoT clients in March 2024. The service promises improved voice quality, higher data speeds, and increased battery lifespan for IoT gadgets, enabling high-efficiency operation on 4G networks worldwide. This unfolding event is critical as it facilitates IoT customers' migration from antiquated 2G/3G networks to more resourceful, future-ready technology. This shift aids significantly in supporting vital applications like healthcare, promoting efficient device utilization.
Which growth-oriented segments of the iot telecom services market are leading the industry's development?
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
Subsegments:
1) By Business Consulting Services: Strategy Development, market Analysis, Technology Assessment
2) By Device And Application Management Services: Device Provisioning, Application Monitoring, Performance Management
3) By Installation And Integration Services: On-Site Installation, System Integration, Configuration Services
4) By IoT Billing And Subscription Management: Billing System Setup, Subscription Lifecycle Management, Revenue Assurance
5) By M2M Billing Management: Usage-Based Billing, Multi-Account Billing, Reporting And Analytics
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What regions are leading the charge in the iot telecom services market?
North America was the largest region in the IoT telecom services market in 2024.The regions covered in the IoT telecom services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the iot telecom services market?
Major companies operating in the IoT telecom services market include 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., 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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What Is Covered In The IoT Telecom Services Global Market Report?
•Market Size Forecast: Examine the iot telecom services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the iot telecom services market for a structured understanding.
•Key Players Overview: Analyze major players in the iot telecom services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the iot telecom services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the iot telecom services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the iot telecom services market.
•Industry Challenges: Identify potential risks and obstacles affecting the iot telecom services market.
•Competitive Landscape: Review strategic developments in the iot telecom services market, including expansions, agreements, and new product launches.
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