Market Highlights
The global IoT telecom services market is proliferating rapidly mainly due to the increasing application of IoT telecom services in various industries, primarily to enhance connectivity. Moreover, factors such as the emerging applications of IoT telecom services in smart buildings, industrial automation, and vehicle telematics are escalating the market on the global platform.
Considering the colossal traction, the market perceives currently; Market Research Future (MRFR), in its recently published market study report asserts that the global IoT telecom services market will reach approximately USD 22.57 BN, posting a whopping CAGR of around 36.96% throughout the forecast period (2018 – 2023). The market had valued at USD 3.45 BN, in 2017.
Additional factors that would help the market to boost further include the low-power, wide-area (LPWAN) technologies that are replacing short-range wireless and the proliferation of mobile WAN technologies such as Bluetooth, Wi-Fi and Near Field Communication (NFC).
Conversely, factors such as the lack of regulations for spectrum allocation and billing problems between OTT players and telecom operators are expected to act as a major headwind that will be impeding the growth of the market. Nevertheless, the growing adoption of the telco cloud is expected to support the growth of the market, boosting the demand for IoT telecom services, globally.
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Segmentation:
For ease of understanding, the market has been segmented into six key dynamics: -
By Component : Connectivity Technology and Network Management Solutions Services among others.
By Connectivity Technology : Cellular Technologies, Low-power Wide Area Network (LPWAN), Narrowband-IoT (NB-IOT), and Radio Frequency-based among others.
By Network Management Solutions : Network Performance Monitoring Network Optimization, Network Security Management and Network Traffic Management among others.
By Service Type : Business Consulting Services, Device Application Management Services, Installation Integration Services, IoT Billing Subscription Management, and M2M Billing Services among others.
By Application : Smart Buildings, Industrial Automation, Vehicle Telematics, Transportation Traffic Management, Energy Utilities, Smart Healthcare, and Capillary Network Management among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global IoT Telecom Services Market - Regional Analysis
The North American region heading with a large number of enterprises and early adoption of innovative technologies dominates the global IoT telecom services market. The region offers a favorable platform for IoT telecom services to evolve to the extent. The region perceives a huge growth in terms of advancements in technology and telecom sector. Also, factors such as the rising mobile workforces, a spurting demand for high-speed telecom services, and the presence of major market players are some of the key driving forces behind the growth of the regional market. Furthermore, factors such as the growth of IoT due to the rapid adoption of connected devices and technologies is one of the major driving forces contributing to the IoT telecom services market in the region.
The IoT Telecom Services Market Growth in the European region accounts for the second-largest market, globally. Factors such as the technological advancements and proliferation of intelligent connected devices are impacting the growth of the regional market, positively. Furthermore, the presence of a well-established infrastructure propels the market growth, allowing faster implementation of advanced technologies.
The Asia Pacific IoT telecom services market has emerged as a profitable market, globally. The market is growing significantly due to the increasing opportunities in the developing countries which are inclined toward automation and adopting increasingly IoT devices. Also, the market proliferation of mobile devices, wide adoption of IoT solutions, and developments in the IT sector are fostering the growth of the regional market. Moreover, the increasing numbers of prominent players in this market drive the market growth IoT telecom services in the APAC region.
Global IoT Telecom Services Market - Competitive Analysis
The fiercely competitive IoT telecom services market appears to be fragmented with the presence of various large and small-scale players. Key players are investing substantially to transform the consumer and business landscape in the future. Matured players incorporate strategic initiatives such as collaboration, partnership, acquisition, product technology launch, and expansion to gain a competitive edge staying ahead in this market.
Major Players:
Key players leading the global IoT telecom services market include Verizon Communications, Inc. (US), ATT, Inc. (US), Ericsson (Sweden), Sprint Corporation (US), Huawei Technologies Co., Ltd. (China), China Mobile (China), China Telecom (China), Telia (Sweden), Swisscom AG (Switzerland), Deutsche Telekom AG (Germany), Aeris (France), Vodafone (UK), and T-Mobile (US) among others.
Industry/Innovation/ Related News:
February 27, 2019 ----- HCL Technologies (the US), a leading global technology company, launched an intelligent, scalable and secure IoT device management platform - iCE.X, for consumer premises equipment (CPE), small cells, gateways, sensors, and various IoT devices, at Mobile World Congress 2019.
The new platform iCE.X will bring IoT device management to telecom and media services providers, providing seamless connectivity, zero-touch secure onboarding of devices and support for multiple protocols to accelerate the adoption of IoT use-cases across industries. It offers help desk agents increased visibility into subscriber networks and provides an intuitive consumer self-care portal.
The opportunity to harness IoT devices and data to deliver more personalized services and tailored experiences enables telecom and media services providers to monetize billions of connections and future-proof their business models.
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IoT telecom services Market, by Component (Connectivity Technology, Network Management Solution, Services), by Connectivity Technology (Cellular Technologies, LPWAN, NB-IoT, Radio Frequency-Based), by Network management Solutions (Network Performance Monitoring and Network Optimization, Network Traffic Management), by Service Type (Business Consulting Services, Device and Application Management Services), by Application (Smart Buildings, Capillary Network Management) — Global Forecast till 2023
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