According to a new
market research report "IoT Telecom Services
Market by Component, Connectivity Technology (Cellular, LPWAN, NB-IoT, and
RF-Based), Network Management Solutions, Service (IoT Billing &
Subscription and M2m Billing Management), and Application - Global Forecast to
2021", published by
MarketsandMarkets, market size is estimated to grow from USD 2.90 Billion in 2016 to USD 17.67 Billion by 2021, at a Compound Annual Growth Rate (CAGR)
of 43.6%.
Browse 68 market data Tables and 58 Figures spread
through 162 Pages and in-depth TOC on "IoT
Telecom Services Market"
Early
buyers will receive 10% customization on this report.
The
major forces driving this market are the growing need for enhanced connectivity
solution to connect smart devices, critical need for smart network bandwidth
management and automation in backend communication operations which is an
essential pre-requisite for streamlining business processes, and the
significant increase in adoption of BYOD among enterprises. Telcom are
promoting an OTT application that helps to boost the adoption of IoT telecom services.
Transportation, connected logistics, and traffic
management application is expected to grow at the highest CAGR in theIoT
Telecom Services Market during
the forecast period
Application
of IoT with regards to connected logistics allows the clients and logistics
providers to make quick adjustments, in case there is any delay in the
shipment. IoT services strengthen the supply chain management by offering them
transparency so that they can take effective decisions in real-time. Telcos
offer connectivity solutions to IoT-enabled smart vehicles and trucks for
location and tracking of assets, and real-time management of logistics services
and control systems and smart devices to control and manage basic home
functions automatically over the internet and network connectivity provided by
telecom service providers.
Machine
to Machine (M2M) billing management services segment is expected to hold the
largest market share in the IoT
Telecom Services Market and
the current trend is expected to continue during the forecast period:
M2M
billing management services play a vital role in IoT telecom services, as they
track the usage of services subscribed by users of M2M connected devices and
manages the billing and rating of network-as-a service subscription offered by
various telcos in the IoT space. As the there are millions of M2M and IoT
devices connected over network which generates massive amount of data. This
empowers great revenue opportunity for telecom service providers, by providing
a wide range of features including remote monitoring, ubiquitous connectivity,
automatic exchange of data, real-time notification, and many others which helps
in better management of M2M billing of its associated services.
North America is expected to contribute the largest market share; Asia-Pacific (APAC) to grow at the fastest rate:
North America is expected to hold the largest market share and would
dominate the IoT Telecom Services Market from 2016 to 2021, due to the presence
of a large number of IoT telecom service providers offering tailored solutions
to multiple application areas. North America has
been witnessing a high adoption of IoT telecom services on a large scale as
they are the early adopters of smart technologies. APAC offers potential growth
opportunities for the IoT Telecom Services Market to grow, as countries in the
region are investing heavily in the development of IoT telecom services owing
to major instances of rising adoption of smart devices and smart technologies.
The
major vendors in the IoT
Telecom Services Market include
AT&T, Inc. (U.S.), Ericsson (Sweden),
Verizon Communications, Inc. (U.S.), Deutsche Telekom AG (Germany), and Huawei Technologies Co., Ltd. (China), among others.
MarketsandMarkets™
provides quantified B2B research on 30,000 high growth niche
opportunities/threats which will impact 70% to 80% of worldwide companies’
revenues. Currently servicing 5000 customers worldwide including 80% of global
Fortune 1000 companies as clients. Almost 75,000 top officers across eight
industries worldwide approach MarketsandMarkets™ for their painpoints around
revenues decisions.
Our
850-fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high
growth markets following the "Growth Engagement Model – GEM". The GEM
aims at proactive collaboration with the clients to identify new opportunities,
identify most important customers, write "Attack, avoid and defend"
strategies, identify sources of incremental revenues for both the company and
its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this
year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s
flagship competitive intelligence and market research platform, "RT"
connects over 200,000 markets and entire value chains for deeper understanding
of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr.
Rohan
MarketsandMarkets™
701
Pike Street
Suite
2175, Seattle,
WA
98101, United States
Tel:
1-888-600-6441
Email: sales@marketsandmarkets.com
Comments
Post a Comment