IoT Telecom Services Market Value to Cross USD 254.2 Billion in 2031
IoT-powered smart cameras for security & the rise in adoption of new technologies are what essentially fuel the expansion of the IoT telecom services industry.
PORTLAND, PORTLAND, OR, UNITED STATES, February 24, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global IoT telecom services market was estimated at $17.4 billion in 2021 and is expected to hit $254.2 billion by 2031, registering a CAGR of 31.1% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
The global IoT in telecom services market is analyzed across Connectivity, Network Management Solution, Service Type, Application, and Region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By connectivity, the cellular technology segment held more than one-third of the global IoT in telecom services market revenue in 2021, and is expected to dominate by 2031. The NB-IoT segment, however, would manifest the fastest CAGR of 33.5% throughout the forecast period. The LPWAN and RF-Based segments are also assessed through the study.
By network management solution, the network performance monitoring and optimization segment held more than one-third of the global IoT in telecom services market share in 2021, and is expected to dominate by 2031. The network security management segment, on the other hand, would cite the fastest CAGR of 32.7% throughout the forecast period. The network traffic management segment is also analyzed through the report.
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By service type, the business consulting services segment contributed to nearly one-third of the global IoT in telecom services market share in 2021, and is projected to retain its dominance throughout the forecast period. The IoT billing and subscription management segment, on the other hand, would manifest the fastest CAGR of 33.7% during the forecast period. The others segment is also assessed through the study. The other segments assessed through the report include installation and integration services, devices and application management solution, 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 in 2021, and is projected to rule the roost throughout the forecast period. Simultaneously, the smart healthcare segment would portray the fastest CAGR of 33.9% from 2022 to 2031. The other segments assessed through the report include capillary network management, industrial manufacturing & automation, vehicle telematics, and energy and utilities.
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Based on region, the market across North America generated more than one-third of the global IoT in telecom services market share in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, on the other hand, would portray the fastest CAGR of 35.0% during the forecast period. The other provinces analyzed through the report include LAMEA and Europe.
The key market players analyzed in the global IoT in telecom services market report include 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 several 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 developments by the top players.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
David Correa
Allied Analytics LLP
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