Due to an increase in demand for better connectivity solutions to link smart devices, the market is anticipated to reach a value of close to US$ 3,31,542.6 Million by 2032 with a predicted CAGR of 21.9% from 2022 to 2032. With better connectivity choices for many smart devices, the telecom Internet of Things market is thought to be expanding at the fastest rate. The value of the global Internet of Things (IoT) in telecom was predicted to be US$ 45,733.3 million in 2022.
Technology plays an important role in the development of Telecom Internet of Things market and especially with the innovation of Internet of Things, Telecom Internet of Things market is witnessing the rapid growth. With the growing adoption of intelligent transportation system and rapid increase in number of smartphones and tablets, Telecom Internet of Things market is experiencing the rapid growth.
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Internet of Things comes with the concept that everything around should be electronically integrated and interconnected. Telecom operators are now using digital platforms that combine connectivity, analysis, mobile, security and cloud to support business and all these empowers great revenue opportunity for them.
Major applications such as logistics tracking, traffic management, smart healthcare and others are contributing to the growth of Telecom Internet of Things market.
Telecom Internet of Things (IoT) market: Drivers and Challenges
Drivers
The major factor driving Telecom Internet of Things market is the growing need for enhanced connectivity solutions to connect smart devices.
Moreover, the increased demand of mobile computing devices and network capacity to access connected services are the drivers which are contributing to the growth of global telecom Internet of Things market.
Apart from this, the rising demand of telecommunication cloud for smart network bandwidth management and automation in communication operations are driving the Telecom Internet of Things market.
Moreover the enhancement of smart technology and distributed application will increase the demand for Telecom Internet of Things market.
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Challenges
The major challenge for the IoT telecom market is that the network operator should be able to offer fast, reliable and uninterrupted connectivity.
Also, with the increase of connected devices and management of personal data, the privacy and security of customer information is the significant issue for the companies in Telecom Internet of Things market.
Telecom Internet of Things (IoT) market: Recent Developments and Competition dashboard
In June 2017 AT&T and China Telecom signed an agreement to expand partnership to develop network services around the world. Telcos such as AT&T, Vodafone, Verizon and others have done various development in Telecom market.
For instance in October 2016, Vodafone launches first live commercial NB-IoT network.
The key market players in Telecom Internet of Things markets include AT&T, Inc., Ericsson, Verizon Communications, Inc., Sprint Corporation, Vodafone Group, Plc., China Mobile Ltd, Swisscom AG, Aeris, Deutsche Telekom AG and others.
Telecom Internet of Things (IoT) market: Regional Overview
On geographic basis, North America will be the largest market due to stringent IoT regulations and the presence of large number of telecom Internet of Things service providers in this region.
The market in APAC is expected to witness exponential growth in Telecom Internet of Things market and it is the fastest growing region for the telecom Internet of Things service market due to growing smart devices market and smart technology and experiencing the large number of early adopters of smart technology.
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Key Segments Of The Telecom Internet Of Things (Iot) Market
By Connectivity Technology:
- Cellular Technologies
- NB-IoT
- LPWAN
- RF-Based
By Offering:
- Solution
- Services
By Network Management Solution:
- Network Traffic Management
- Network Performance Monitoring and Optimization
- Network Security Management
By End-User:
- Automotive
- Industrial
- Energy and Power
- Commercial Infrastructure
- Healthcare
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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