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IoT Telecom Services Market Overview
IoT Telecom Services Market Size was valued at USD 17.3 Billion in 2022. The IoT Telecom Services market industry is projected to grow from USD 24.1 Billion in 2023 to USD 191.3 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 34.28% during the forecast period (2024 - 2032).
Increasing security concerns, increasing advancements in technology, and implementation of new data frameworks shifting to clouds are the major factors driving the IoT Telecom Market.
Figure 1: IoT Telecom Services Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
IoT Telecom Services Market Trends
Increasing security concerns boost IoT Telecom Services Market Growth
With the increasing complexity of network architecture in the Telecom sector, the security of consumers’ data and telecom equipment is of significant concern. Companies are deploying many security measures as suggested by consultants active in the telecom market. For telecom organizations, data and hardware resource theft can be expensive. Therefore, telecom companies must plan a safe architecture when implementing any new process or structure. To address such problems, Many telecom companies are installing smart cameras in integration with IoT. Smart cameras, with the help of this integration, can notify of any tampering or any criminal incidents impacting their network.
Telecom firms can also use beacons and RFID badges to secure the perimeter and prevent unwanted access. Telecom firms can use this technique to set up a geofence for their IoT devices, which will help them to build a networked barrier. A geofence has made it easier to build an IoT-enabled barrier that only enables authorized people to pass through. As a result, the use of IoT in telecom firms can facilitate the creation of more effective security standards.
Figure 2: Penetration rate of IoT Telecom Services by Country 
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Due to increased events and aggressive policies, the most secure telecom network is in Saudi Arabia, followed by the U.K., with a penetration rate of 65%. Even though the number of users in India is much higher than in any developed nation, the infrastructure of telecom networks could be more secure than in other countries.
IoT Telecom Services Market Segment Insight
IoT Telecom Services by Services Insights
Based on service type, the global IoT Telecom Services market is segmented into, device and application management, business consulting services, IoT billing and subscription, installation and integration services, M2M billing services, and others. The business consulting services segment accounted for the largest share of this market and is also estimated to grow at a CAGR of 35.23% over the forecast period. With consultants specializing in different industries and areas, including strategy and management, operations, human resources, finances, funding prospects, IT, and sales and marketing, business consultants can offer experience and an objective eye to help steer a business.
Figure 3: IoT Telecom Services Market, by Service Type, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Additionally, the digital twin would allow Telstra Corporation Limited to establish a digital nerve center that claims to promote transparency by modernizing the workplace and corporate processes while enhancing employee digital communication.
Manufacturers can also highlight the importance of IoT and wireless connectivity. An increase in telco adoption, the penetration of smart connected devices, the necessity for network bandwidth control, and the automation of communication processes are expected to boost the market for IoT telecom services.
February 2023: - IoT is strengthened by Qualcomm's device tracking service. Cold chain distribution, utility asset monitoring, cargo shipment tracking, and warehouse and inventory management are a few of the business cases Qualcomm Aware will support when it becomes available later this year.
December 2023 - IoT Accelerator and Connected Vehicle Cloud businesses from Ericsson will be handed to Aeris Communications, a top Internet of Things (IoT) solutions provider in San Jose, California.
IoT Telecom Services by Component Type Insights
The global IoT Telecom Services market is segmented based on component type into Connectivity Technology, Network Management Solutions, and Services. Connectivity technology dominates this market with significant growth and is expected to grow at a CAGR of 36.3% through the forecast period. Some possible market expansion drivers include increased mobile subscribers, skyrocketing high-speed data connectivity demand, and increased demand for value-added managed services.
Regarding connectivity, the cellular technology sector has dominated the market for IoT telecom services over the past few years. It is predicted to continue doing so in the years to come. The IoT telecom service market's widespread acceptance is predicted to enhance LPWA network technologies, which offer a low-cost, low-power wireless option with global reach and built-in solid security. However, the LPWAN segment is anticipated to experience the most significant growth.
Implementing intelligent connectivity technologies across networks and business processes are made possible by the Internet of Things telecom services, which telecom firms offer to their commercial clients. Malware attacks drive the need for IoT network security management. Enhancing data security and privacy, interoperability, asset management, real-time analytics, and many other services are among them.
However, if worldwide consumers use digital media platforms more and more, there will be a dramatic increase in demand for bigger bandwidths and high-speed connectivity. Telecom service providers are pressuring OTT providers to lower the streaming resolution of their media content due to the increase in the use of these platforms.
IoT Telecom Services Application Insights
Based on solution type, the global IoT Telecom Services market segmentation includes Smart buildings, Automation, Capillary network management, Vehicle telematics, Energy and utilities, Smart healthcare, and others. The smart buildings segment is anticipated to grow at a CAGR of 36.1% in the upcoming years. The growth of the global market depends on the availability of more mobile networks and smart devices. Worldwide, several firms are developing technologies for smart buildings. Connecting the building system with IoT technology is a growing trend that aims to boost efficiency, convenience, and security by establishing connections between smart devices for networking computer servers, printing, temperature control, and other functions.
Automation is estimated to become the second-largest segment during the forecast period. Moreover, this segment is anticipated to grow at a CAGR of 34.1% throughout the forecast period. The government and other authorities have taken a supportive stance in pushing employers to embrace automation and other smart technology more frequently. This is one of the key factors influencing the market's expansion of IoT services. For instance, Telstra Corporation Limited acquired Aqura Technologies, a subsidiary of ASX-listed surveying services company Veris, specializing in technology and telecommunications infrastructure solutions, and Alliance Automation, Australia's largest independent provider of IoT industrial automation solutions and control systems.
Because smart city efforts are being adopted more widely worldwide, automation is predicted to be one of the segments with the most significant growth during the projection period. These programs aim to integrate several systems, including lighting, heating, security, public address announcement systems, transportation systems like buses and trains, environmental monitoring systems such as air quality sensors, and building management systems.
IoT Telecom Services Regional Insights
This market has been segmented by region into North America, Europe, Asia-Pacific, and the rest of the world. The North American region is anticipated to grow at a CAGR of 32.73% through the forecast period. Due to the growing usage of linked devices and technologies, this area currently controls the majority of the market for internet of things (IoT) telecom services. The market for internet of things (IoT) telecom services in the area will expand over the forecast period due to the increased usage of IoT telecom services. Also, during the projected period, rising industrial automation in several industries, including healthcare, is anticipated to fuel regional growth.
Asia-Pacific region is anticipated to become the second-largest segment of this market by 2030, with a significant share of 33.1%. Platforms for e-commerce and retailer buy-in, the widespread use of smartphones, and investments in 5G networks are the main factors driving the regional market. Significant regional market growth contributors include China, Japan, and India.
Figure 3: IOT TELECOM SERVICES MARKET, BY REGION 2022 AND 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
However, the lack of spectrum allocation regulations is a significant barrier to industry expansion. IoT platform providers' and Network-as-a-Service providers' interactions with telecom service providers and suppliers change regionally due to the highly fragmented nature of the IoT telecom services market.
IoT Telecom Services Key Market Players & Competitive Insights
The demand for IoT telecom services is driven by changing cloud systems run by V-Ran, Mano, the Containerization of system information, and many other new technologies. As a result of the strict regulations put in place by governments worldwide and a halt in physical developments due to COVID impacted the market growth. The demand for IoT Telecom Services is increasing globally due to in-house government investments.
Major IoT Telecom Services market players include AT&T, Ericsson, Huawei Technologies, Deutsche Telekom, Vodafone, T-Mobile, Aeris, Sequans Communications, Orange, T-Mobile, Telus, MediaTek, Bharati Airtel Limited, Reliance Jio Infocomm Limited, KDDI Corporation, Orange SA, BT Group plc, Comcast Corporation, Qualcomm and Snowflake, are focusing on developing their business strategies.
Key Companies in the IoT Telecom Services market include.
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AT&T
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Sequans Communications
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Deutsche Telekom
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T-Mobile
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Aeris
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Orange
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T-Mobile
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Telus
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MediaTek
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Bharati Airtel Limited
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Reliance Jio Infocomm Limited
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KDDI Corporation
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Orange SA
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BT Group plc
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Comcast Corporation
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Qualcomm
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Snowflake
IoT Telecom Services Industry Developments
In February 2023, IoT is boosted by Qualcomm's device tracking service. These include cold chain distribution, utility asset monitoring, cargo shipment tracking, and warehouse and inventory management which Qualcomm Aware will be applicable after its release later this year.
In December 2023, Ericsson's IoT Accelerator and Connected Vehicle Cloud business will be transferred to Aeris Communications, a top San Jose-based provider of Internet of Things (IoT) solutions.
Vodafone Business and Hyundai Motor Group have joined forces to provide in-car infotainment services, for customers of Hyundai and Kia across Europe, in 2023. The driving experience is expected to be improved through such a partnership, which offers connected services that include multimedia content, real-time traffic information as well as cloud navigation solutions on Vodafone's global IoT platform.
Eseye formed a partnership with Telus in February 2021. By embedding its pioneering AnyNet Connectivity Platform within the Telus IoT Portfolio, this association would upgrade the former's operations while giving it a globally white-labeled IoT connectivity that works ubiquitously.
April 2020 saw the acquisition of U.S.-based telecommunication company Sprint Corporation by T-Mobile US, Inc. The strategic merger was aimed at attaining strong 5G network infrastructure in the American market and seizing as much rural and urban region share as possible. The merger would invest almost USD 40 billion into the organization, network, and others over three years.
In February 2021, AT&T Inc. and Verizon Communications spent nearly $70 billion in total on the acquisition of their own frequency ranges for 5G networks, aiming at improving the service quality that they deliver to customers. Also, companies such as China Mobile Ltd., KT Corporation, BT Group plc (EE), and Vodafone Group plc are majorly concentrating on procuring millimeter wave (mmWave) spectrum so as to provide higher bandwidth connectivity for both business and consumer applications.
GD Towers has gotten into an agreement with Deutsche Telekom inn2019. The current GD Towers structure allows Deutsche Telekom to enlarge its network coverage because of this cooperation. In addition, it allows the company to improve its telecoms products, hence meeting growing connectivity demand.
Nokia partnered with Saudi Telecom Company (STC) in February 2019 for the deployment of Nokia's end-to-end IoT Solutions towards creating a new wireless standard.
IoT Telecom Services Market Segmentation
Architectural Component Type Outlook
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Connectivity Technology,
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Network Management Solution,
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Services
IoT Telecom Services Service Outlook
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Device and application management
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Business consulting services
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IoT billing and subscription
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Installation and integration services
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M2M billing services
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Others
IoT Telecom Services Application Outlook
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Smart buildings
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Automation
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Capillary network management
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Vehicle telematics
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Smart healthcare
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Others
IoT Telecom Services Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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