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What Does the IoT Telecom Services Market Size Analysis Reveal?
The IoT telecom services market size has seen remarkable growth in recent years, expanding from $25.33 billion in 2024 to a projected $34.52 billion in 2025. This represents a compound annual growth rate (CAGR) of 36.3%. Factors contributing to this historic growth include the surge in connected devices, increased demand for real-time data analytics, emergence of 4G/LTE networks, increased adoption of smart cities initiatives, and growth in industrial IoT applications.
Looking ahead, the market isn’t slowing down. The IoT telecom services market is poised to reach $108.77 billion by 2029, growing at a CAGR of 33.2%. This projected growth is propelled by factors such as the deployment of 5G networks, expansion of edge computing capabilities, rising demand for low latency and high bandwidth, continued expansion of IoT in various industries, and the need for cost-effective and efficient telecom services.
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What is Driving the IoT Telecom Services Market Growth?
Key growth drivers for the IoT telecom services market include the adoption of 5G networks across the globe. As the 5th generation mobile network, 5G offers higher speed and responsiveness of wireless networks. Improved 5G network speeds, bandwidth, and lower latency facilitate effective communication between connected devices, providing telecom companies with quicker and better asset management and remote system monitoring options.
How Is the Global IoT Telecom Services Market Segmented?
1) By Service Type: Business Consulting Services, Device And Application Management Services, Installation And Integration Services, IoT Billing And Subscription Management, M2M Billing Management
2) By Connectivity: Cellular Technologies, LPWAN, NB-IoT, Radio Frequency-Based
3) By Network Management Solution: Network Performance Monitoring And Optimization, Network Traffic Management, Network Security Management
4) By Application: Smart Building And Home Automation, Capillary Networks Management, Industrial Manufacturing And Automation, Energy And Utilities, Smart Healthcare, Other Applications
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Who Are the Major Players in the IoT Telecom Services Market?
Prominent companies operating in the IoT telecom services market 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, PTC Inc., Spectrum Enterprise, Samsara Networks Inc., Sierra Wireless Inc., GE Digital LLC, Telit Communications plc, Bosch IoT Sensor Company, SAP SE, Andersen Inc., ScienceSoft USA Corporation, Vention Inc., Altoros Americas LLC, Oxagile LLC, SumatoSoft LLC, Innowise Group LLC, Style Lab IoT Software Company, HQ Software Industrial IoT Company, ARM IoT Security Company, Siemens IoT Analytics Company.
What Are the Emerging Trends in the IoT Telecom Services Market?
Technological advancements continue to shape the IoT telecom services market. Major market players are developing cutting-edge technologies, like integrated Internet of Things (IoT) solutions, to consolidate their portfolios. For example, in March 2024, Tele2 AB launched a VoLTE (voice over LTE) service for IoT customers, ensuring superior voice clarity, faster data speeds, and extended battery life for IoT devices, facilitating their effective operation on 4G networks globally.
Which Region Is Showcasing Promising Growth in the IoT Telecom Services Market?
In 2024, North America dominated the IoT telecom services market. However, growth potential exists in regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does the IoT Telecom Services Market Report 2025 Offer?
IoT telecom services connect various physical assets to the cloud, enabling remote operations management, firmware upgrades, problem investigation, and inventory tracking. The IoT Telecom Services Market research report from The Business Research Company provides global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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