Rising adoption of IoT devices and new technological developments and growing preference for real-time data collection are driving the growth of the global market for IoT in telecom services. By application, the smart buildings and home automation segment had the largest share in 2021. By region, Asia-Pacific would show the fastest CAGR by 2031.

Portland, OR, Jan. 18, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global IoT in telecom services market was estimated to reach $17.4 billion by 2021 and is expected to reach $254.2 billion by 2031, with a CAGR of 31.1% from 2022 to 2031. The report provides a detailed analysis of the major investment pockets, the most winning strategies, drivers and opportunities, market size & estimates, competitive landscape and evolving market trends. The market study is a useful source of information for the forerunners, new entrants, investors and shareholders in developing strategies for the future and strengthening their position in the market.

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Reporting coverage & details:

Covid-19 scenario-

• During the pandemic, IoT proved to be very beneficial for the telecom industry to enable access from a remote location, positively impacting the global market for IoT in telecom services.

• Besides helping to cut costs, it also made way for smart development. This drift has continued even after the pandemic.

The global IoT in telecom services market is analyzed based on connectivity, network management solution, service type, application, and region. The report contains a comprehensive analysis of the segments and their sub-segments using tabular and graphical representations. Investors and market players can take advantage of the breakdown and strategize based on the highest revenue generating and fastest growing segments identified in the report.

Through connectivity, the cellular technology segment accounted for more than a third of the global IoT in telecom services market revenue by 2021, and is expected to dominate by 2031. However, the NB-IoT segment is expected to have the fastest CAGR of 33.5% throughout the forecast period. The LPWAN and RF based segments are also assessed during the study.

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

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By service type, the business advisory services segment contributed to nearly a third of the global IoT in telecom services market share in 2021, and is expected to maintain its dominance over the forecast period. In contrast, the IoT billing and subscription management segment would show the fastest CAGR of 33.7% during the forecast period. The remaining segment is also assessed through the survey. The other segments assessed in the report include installation and integration services, device and application management solutions, and M2M billing management.

By application, the smart building and home automation segment contributed to more than one-fifth of the global IoT in telecom services market revenue by 2021 and is expected to dominate over the forecast period. At the same time, the smart healthcare segment would show the fastest CAGR of 33.9% from 2022 to 2031. The other segments assessed in the report include capillary network management, industrial manufacturing and automation, vehicle telematics, and energy and utilities.

On the basis of region, the North America market generated more than a third of the global IoT in telecom services market share in 2021, and is expected to hold the lion’s share in 2031. The Asia-Pacific region, on the other hand, would give the fastest CAGR of 35, 0% again during the forecast period. The other provinces analyzed in the report are LAMEA and Europe.

The key market players analyzed in the global IoT in Telecom Services market report are Sierra Wireless, LM Ericsson Telephone Company, T-Mobile, Orange, Vodafone Idea Ltd, MediaTek Inc, telstra, Sequans Communications, puresoftware ltd. and TELUS Corporation. These market players have incorporated various strategies including partnership, expansion, collaboration, joint ventures and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and development of the top players.

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About us

Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as small and medium-sized businesses with unparalleled quality of “Market research reportsand “Business Intelligence Solutions”.

We have professional business relationships with several companies and this helps us excavate market data which helps us generate accurate research data tables and confirm the pinpoint accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research, plays an important role in inspiring and encouraging everyone involved in the company to maintain the high quality of the data and help customers achieve success in every way possible. All data presented in the reports published by us has been extracted through primary interviews with top executives from leading companies in the relevant field. Our secondary data procurement methodology includes in-depth online and offline research and discussions with expert industry professionals and analysts.

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