The global Internet of things (IoT) telecom services market is anticipated to grow at a CAGR of 43.6% during 2016 to 2022. The market has generated the revenue of 2.90 Billion in 2016 and is anticipated to reach up to $18 Billion by 2022. Due to Rising Penetration of Smart Connected Devices, Rising Adoption of Telco Cloud, Telco Promoting the Deployment of OTT Applications by Leveraging Traditional Telecom Services and Demand for Smart Network Bandwidth Management and Automation in Communication Operations helps to accelerate the market of IoT telecom services.
The NB-IoT connectivity technology of Internet of things telecom services market is projected to increase at the highest CAGR during the forecast period owing to the development of low-power high-range wireless connectivity technologies. The market is also expected to rise at the highest CAGR in the traffic management, logistics tracking, transportation and various application during the forecast period owing to the acceptance of smart technologies for managing logistics and traffic. Network security management solution is anticipated to grow at the highest CAGR during the forecast period as it fortifies the data and resources in a network by using firewall and other IoT-enabled security solutions for effective network management
On the basis of segmentation the market of IoT telecom services is further segmented as component, service type and application. On the basis of component the market of IOT telecom service is further segmented as Connectivity Technology, Network Management Solution and Services. On the basis of service type the market of IOT telecom service is further segmented as Business Consulting Services, Device and Application Management Services, Installation and Integration Services, IoT Billing and Subscription Management and M2M Billing Services. Similarly, on the basis of application the market of IoT telecom services is further segmented as Smart Buildings and Home Automation, Capillary Network Management, Industrial Manufacturing and Automation, Vehicle Telematics, Transportation, Logistics Tracking, and Traffic Management, Energy and Utilities, Smart Healthcare and Others.
Geographically, the market of IoT telecom services is further segmented into North America, Europe, Asia pacific and Row. North America is anticipated to account for the largest market share in the Internet of things telecom services market, followed by Europe, Owing to rising adoption of smart connected devices and technologies and telcos promoting over-the-top content applications are the key factors growing the adoption of IoT telecom services.
Some of the major players of the market are Aeris, AT&T, Inc., China Mobile Ltd., Deutsche Telekom AG, Deutsche Telekom AG, Ericsson, Huawei Technologies Co., Ltd , Nippon Telegraph & Telephone Corporation, Softbank Group Corp., Sprint Corporation , Swisscom AG, Telefonica S.A., T-Mobile USA, Inc., Verizon Communications, Inc., Vodafone Group PLC. Acquisition, merger, innovation and product launch are the major strategies to sustain in the market. for example: In 2016 The Company has announced that they expect to conduct trials of 5G in 2016 and move aggressively to commercial deployment. Similarly, in 2016 AT&T Inc. announced the complete acquisition of quick play media a leading provider of managed service solutions for the distribution of premium video to IP-connected devices.