Worldwide IoT Telecom Services Market Research – Industry Forecasts and Future Trends
Internet of things (IoT) enabled telecom services provide improved connectivity solutions to several smart devices and help in connecting smart IoT sensors over a network for better communication. The report “Global Iot Telecom Services Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast” added by DecisionDatabases.com provides information in terms of revenue and volume for the period 2016 to 2021. Drivers, restraints, and opportunities are intellectually assessed in the research report.
The growth of the Internet of things (IoT) enabled telecom services market
is attributed to the growing adoption of Telco cloud solutions along with the increasing market penetration of smart devices for better connectivity. In addition, rising need for automated communication operations and smart network bandwidth management will further aid in the growth of the market during the forecast period. Many players are promoting IoT telecom services by adopting OTT applications such as Telcos, which in turn will help in fuel market demand over the coming years. IoT telecom services are vital in automating the company functions by leveraging the high range, low-power wireless
technologies to decrease the price of devices, and at the same time, increasing the ROI of telecom service operators on infrastructural expenses. They also find major applications across various industry verticals such as transportation, vehicle telematics, logistics tracking, smart healthcare, traffic management and capillary networks management, which will further contribute to the growth of the market. However, stringent regulatory frameworks for spectrum allocation and rising billing & monetary issues between telecom
operators and OTT players are major challenges, which may hamper the growth of the market in the forthcoming years.
The global market has been segmented based on connectivity technology into cellular technologies, LPWAN, NB-IoT, and RF-based technology. The market has been further segmented based on network management solution into network performance monitoring & optimization, network traffic management and network security management. Furthermore, the market has been segmented based on service type and application. M2M billing management is a leading service segment and is expected to witness a double-digit growth over the forecast period owing to the growing usage of telecom services due to its easy usage-tracking, remote monitoring, automatic exchange of data, ubiquitous connectivity and real-time notification facilities.
North America has accounted for major market share and is anticipated to continue its dominance over the forecast period on account of the availability of a huge number of IoT telecom service operators with tailored solutions offerings to multiple application areas and early adoption of smart technologies in the region. Asia Pacific is a fastest growing market and is projected to grow at the highest CAGR during the forecast period due to the rising investment in the development of IoT telecom services and increasing adoption of smart technologies & smart devices in the region.
The key players include Aeris, AT&T, Inc., China Mobile Ltd., Deutsche Telekom AG, Ericsson, Huawei Technologies Co., Ltd, Sprint Corporation, Swisscom AG, T-Mobile USA, Inc., Verizon Communications, Inc., and Vodafone Group PLC.
In Aug 2015, GE has launched a cloud-based service “Predix” based on its analytics platform and industrial equipment monitoring, which is intending to serve various industrial IoT applications such as aviation, automotive, manufacturing energy and healthcare sector.
In April 2016, Ericsson has launched the IoT Accelerator service, to serve customers from various sectors such as public safety, utilities, transport and smart cities, by connecting with partners and easy monetizing their solutions.
In July 2016, India's first IoT center has been launched in Bengaluru with five startups.
In Aug 2016, SK Telecom along with Samsung has launched the world-first LoRa-WAN network for nationwide IoT network.
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