IoT Telecom Services Market Size To Expand at a Notable CAGR Of 34.28% During 2023 - 2030

MRFR Press Release/- Market Research Future published a half-cooked research report on the global IoT telecom services market.

Market Highlights

Growing adoption of telco cloud and emerging applications such as smart buildings, industrial automation, and vehicle telematics are expected to boost the demand for IoT telecom services market globally. Also, need for enhanced connectivity is expected to drive the demand during the forecast period. Low-power, wide-area (LPWAN) technologies are gradually expected to replace short-range wireless and mobile WAN technologies including Bluetooth, Wi-Fi, and Near Field Communication (NFC) used for short range. However, factors such as lack of regulations for spectrum allocation and billing problems between OTT players and telecom operators can hamper the growth of IoT telecom services market.

Key players

The key players in the IoT telecom services market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – AT&T, Inc. (US), Verizon Communications, Inc. (US), Ericsson (Sweden), Huawei Technologies Co., Ltd. (China), Sprint Corporation (US), Deutsche Telekom AG (Germany), Vodafone (UK), Aeris (France), and T-Mobile (US). These players contribute a major share in the growth of IoT telecom services market.

Apart from the top key players, there are other players that contribute to the market growth. These include China Mobile (China), China Telecom (China), Telia (Sweden) and Swisscom AG (Switzerland), and others.

Regional Analysis

The global market for IoT telecom services is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of IoT telecom services market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, North America dominated the IoT telecom services market in 2017. Growth of IoT in the US due to rapid adoption of connected devices and technologies is one of the major drivers contributing to the IoT telecom services market in North America. Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to increasing investments in telecom industry by government of countries such as China, India and Japan. Europe was the second largest market for IoT telecom services in 2017. Some of the major players in this region include Vodafone and Deutsche Telekom.