IoT Telecom Services Industry 2020 by Current & Upcoming Trends | Coronavirus Effects

 Market Highlights

Internet of things (IoT) telecom services is a suite of services offered by telecom firms to commercial clients for deployment of connectivity technology to their networks and business processes. The global IoT telecom services market report compiled by Market Research Future (MRFR) touches on developments in IoT, commoditization of services, and large number of customers that shape the market scenario for the period of 2018 to 2023 (forecast period). The COVID-19 outbreak and its effect on the market are analyzed thoroughly.

Market Research Future (MRFR), in its latest report on the world IoT telecom services market reveals that the IoT telecom services market 2020 can rise at 36.96% CAGR by 2023. As per MRFR study, the IoT telecom services global market size can increase from USD 3.45 Bn in 2017 to USD 22.57 Bn by 2023. The increase in the application of IoT telecom services across different industries. It is due to growing need for improved connectivity can drive the IoT telecom services market in the year to come. The high demand for IoT telecom services across smart buildings, vehicle telematics, and industrial automation can boost the rise of the IoT telecom services global market in the assessment period. Moreover, technologies, such as wide-area (LPWAN) and low-power are actively replacing short-range wireless, along with mobile WAN technologies, such asm Wi-Fi, Bluetooth, and Near Field Communication (NFC) for short range applications. This can prompt the expansion of the market in the years to come. The high compatibility of IoT applications with gadgets of complex infrastructure can boost the expansion of the market.

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Segmentation:

By component, the market is segmented into connectivity technology, network management solution, services, and application. 

By connectivity technology, the market is segmented into narrowband-IoT (NB-IOT), Low-power wide area network (LPWAN), cellular technologies, radio frequency-based, and others. 

By network management solution, the market is divided into network traffic management, network performance monitoring and network optimization, network security management, and others. 

By services type, the market is segmented into device and application management services, installation and integration services, IoT billing and subscription management, M2M billing services, and business consulting services. Among the service type segments, M2M billing segment is the largest revenue generating segment and is expected to continue its dominance throughout the forecast period. M2M billing management services are used in tracking the usage of IoT services subscribed by M2M connected devices users. 

By application, the market is bifurcated into transportation and traffic management, smart buildings, capillary network management, vehicle telematics, energy and utilities, smart healthcare, industrial automation, and others. The industrial automation segment is expected to grow at a significant CAGR during the forecast period. This is expected owing to rising employment expenses, production costs, and deployment of sensors and devices for connecting enterprises and managing daily operations.

Regional Analysis

MRFR regional study reveals that the market of IoT telecom services is expected to rise significantly through 2018 to 2023 in North America. The geographical analysis of the world IoT telecom services market across Europe, North America, Asia-Pacific, and the rest of the world brings in spotlight various growth pockets. The sharp rise in the North America IoT telecom services market can be attributed the presence of tech savvy population. The rise in adoption of IoT enabled services across the US owing to the high utility of connected devices and related technologies can act as major driver for the IoT telecom services market in the North America region. In Europe, the IoT telecom services market can secure the second position in the world IoT telecom services market across the review period. In Asia Pacific, the rise in need for IoT enabled services can cause the IoT telecom service market to rise at a high CAGR through the forecast period.

Key players

MRFR identified some reputed players operating in the world IoT telecom services market. They are; Verizon Communications, Inc. (US), AT&T, Inc. (US), Huawei Technologies Co., Ltd. (China), Ericsson (Sweden), Telia (Sweden), Deutsche Telekom AG (Germany), Sprint Corporation (US), Aeris (France), Vodafone (UK), and Mobile (US), China Mobile (China), China Telecom (China), and Swisscom AG (Switzerland), and among. The contribution of these major players are studied MRFR and are inked in the report. Key players of the IoT telecom services market were sorted based on origin, regional presence, major developments, and diversification of their product line, plus industry expertise.

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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

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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