Copyright menafn
What Is The IoT Telecom Services Market Size And Growth?Over recent years, the size of the iot telecom services market has expanded remarkably. Predictions for its growth reveal it is set to increase from a $25.33 billion value in 2024 up to a whopping $34.3 billion in 2025. This expansion is estimated at a compound annual growth rate (CAGR) of 35.4%. This leap in growth during the historic phase can be accredited to a variety of factors such as an increase in connected devices, rising demand for instantaneous data analytics, the advancements of 4G/ITE networks, wide-scale adoption of smart city initiatives, and an uptick in industrial IoT application uses. The market size of iot telecom services is predicted to undergo significant expansion in the following years, reaching $106.67 billion in 2029, with a compounded annual growth rate of 32.8%. This astronomical rise during the forecast period is linked to the introduction of 5g networks, extending the capabilities of edge computing, an increased need for high bandwidth and low latency, continual expansion of IoT across diverse sectors, and a demand for cost-effective, efficient telecom services. Key trends for this projected period incorporate the integration of ai and machine learning into IoT telecom services, fusion of IoT and blockchain technologies, emphasis on IoT security procedures and norms, development of sector-specific IoT telecom services and the fusion of IoT with augmented reality (AR) and virtual reality (VR). Download a free sample of the iot telecom services market report: What Are The Current Leading Growth Drivers For IoT Telecom Services Market?The global uptake of 5G networks is set to significantly boost the IoT telecom services market within the projected timeline. The 5G network, which is characteristically faster and more responsive than its predecessors, will enhance communication among connected devices, courtesy of its heightened speed, bandwidth, and reduced latency. This enhanced communication will present telecom companies with better and faster options for asset management and remote system monitoring. Statistics from a 2022 study by Verizon, a telecom leader based in the US, and Incisiv, an American consumer industry insights firm, indicate that the current rate of 5G adoption is approximately 13%, and it is predicted to triple by 2024. Thus, the escalating assimilation of 5G networks is poised to catalyze the IoT telecom services market. Which Companies Are Currently Leading In The IoT Telecom Services Market?Major players in the IoT Telecom Services 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. What Are The Main Trends, Positively Impacting The Growth Of IoT Telecom Services Market?The rise of technological innovation has become a prominent trend in the realm of IoT telecom services. Leading players in the market are focusing on the development of groundbreaking technologies to enhance their portfolios, particularly integrated solutions for the Internet of Things (IoT). To illustrate, Tele2 AB, a firm based in Sweden that offers comprehensive telecommunication services, introduced a VoLTE (voice over LTE) service specifically for IoT clients in March 2024. This service promotes better voice quality, quicker data transmission, and prolonged battery life for IoT devices, enabling them to perform effectively on 4G networks around the world. This roll-out is crucial as it supports IoT customers in making a switch from outdated 2G/3G networks to technology that is more sustainable and geared towards the future, facilitating mission-critical applications in fields such as healthcare and promoting more energy-efficient usage of devices. How Is The IoT Telecom Services Market Segmented? The iot telecom servicesmarket 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 Management2) By Connectivity: Cellular Technologies, LPWAN, NB-IoT, Radio Frequency-Based3) By Network Management Solution: Network Performance Monitoring And Optimization, Network Traffic Management, Network Security Management4) 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 Assessment2) By Device And Application Management Services: Device Provisioning, Application Monitoring, Performance Management3) By Installation And Integration Services: On-Site Installation, System Integration, Configuration Services4) By IoT Billing And Subscription Management: Billing System Setup, Subscription Lifecycle Management, Revenue Assurance5) By M2M Billing Management: Usage-Based Billing, Multi-Account Billing, Reporting And Analytics View the full iot telecom services market report: Which Is The Dominating Region For The IoT Telecom Services Market?In 2024, North America claimed the top spot in the IoT telecom services market. The market report for IoT telecom services includes regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa, in addition to North America. Browse Through More Reports Similar to the Global IoT Telecom Services Market 2025, By The Business Research Company Real Estate Global Market Report 2025 Real Estate Rental Global Market Report 2025 Real Estate Software Global Market Report 2025 Speak With Our Expert:Saumya SahayAmericas +1 310-496-7795Asia +44 7882 955267 & +91 8897263534Europe +44 7882 955267Email:...The Business Research Company - Follow Us On:. LinkedIn: "
