USD 24.2 Billion
IoT Telecom Services Market Size, Share, Growth Analysis, By Connectivity(Cellular Technology, LPWAN, NB-IoT, and RF- Based), By Network management solution(Network Performance Monitoring and Optimization, Network Traffic Management, and Network Security Management), By Service type(Business Consulting Services, Installation & Integration Services, Devices and Application Management Solution, Iot Billing and Subscription Management), By Application(Smart Building & Home Automation, Capillary Network Management, Industrial Manufacturing, & Automation), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG50B2028 |
Region:
Global |
Published Date: May, 2024
Pages:
177
|Tables:
124
|Figures:
80
IoT Telecom Services Market Insights
IoT Telecom Services Market size was valued at USD 27.2 Billion in 2023 and is poised to grow from USD 37.24 Billion in 2024 to USD 45.86 Billion by 2032, growing at a CAGR of 36.9% during the forecast period (2025-2032).
The IoT Telecom Services Market is experiencing rapid growth due to the increasing utilization of IoT devices. Companies are leveraging IoT platforms for various purposes, prompting them to devise unique strategies to maintain a competitive edge. Telecom companies are embracing IoT initiatives to modernize and enhance competitiveness. Through IoT, companies can collect real-time data, leading to improved efficiency, resource utilization, and reduced errors. Collaborating with IoT companies enables telecoms to expedite their services and handle larger volumes of data seamlessly, driving the continued growth of the IoT telecom services market. Furthermore, the market is expanding as people adopt new technologies like smart cameras for security. However, regulatory uncertainties surrounding certain parts of the airwaves have somewhat hindered market growth. Nevertheless, there is optimism that the market will flourish in the future with increased adoption of blockchain technology. The global IoT telecom services market is witnessing rapid expansion due to several factors, including the rising demand for connected devices, heightened focus on enhanced security measures, increasing preference for cloud-based services, widespread smartphone usage, and the growing need for remote monitoring. Additionally, the surge in smart device adoption and concerns about data security contribute significantly to the development of the IoT telecom services market. Moreover, the increasing demand for mobile internet services, analytics-based services, and investments in infrastructure are further driving the growth of the global IoT services market.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Cellular Technology
Fastest Growth
Cellular Technology
Growth Rate
36.9% CAGR
Global IoT Telecom Services Market ($ Bn)
Country Share for North America Region (%)
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IoT Telecom Services Market Segmental Analysis
The Global IoT Telecom Services Market is segmented based on connectivity, network management solution, service type, application, and region. By connectivity, the market is segmented into Cellular technology, LPWAN, NB-IoT, and RF- based. By network management solution, the market is segmented into network performance monitoring and optimization, network traffic management, and network security management. By service type, the market is segmented into business consulting services, installation & integration services, devices and application management solution, IoT billing and subscription management, and M2M billing management. By application, the market is segmented into smart building & home automation, capillary network management, industrial manufacturing, & automation, vehicle telematics, energy & utilities, and smart healthcare. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Analysis By Connectivity
The largest segment in the global IoT telecom services market is cellular technology because of its widespread adoption and established infrastructure. Cellular networks provide strong connectivity across urban and rural areas, providing a diverse range of IoT applications. With the expansion of smartphones and deployment of advanced cellular technologies like 5G, cellular technology provides high speed data transmission and low latency making it a top choice for applications which require real time data processing and high bandwidth.
On the other hand, the fastest-growing segment in the global IoT telecom services market is LPWAN (Low Power Wide Area Network) because of its ability to support several low power devices over long distances with less infrastructure requirements. LPWAN technologies such as LoRaWAN and sigfox are great in applications where extended battery life and cost-effective connectivity are most important, such as smart agriculture, asset tracking and remote monitoring. The versatility, affordability and energy efficiency of LPWAN solutions have driven its rapid adoption, especially in industries which seek to deploy large scale IoT deployments cost effectively and reliably.
Analysis By Network Management Solution
In the global IoT telecom services market, the largest segment is network security management solutions. With the boost of IoT devices and the increasing complexity of interconnected networks, making sure robust security measures has become important. Network security management solution addressed this need by offering tools and protocols for safeguarding IoT devices, data and networks from cyber threats, unauthorized access and data violation. Some factors like strict regulatory requirements, increasing cyber-attacks, targeting IoT infrastructure and going awareness among businesses about the importance of protecting their IoT developments add to the dominance of network security management in the market.
On the other hand, the fastest-growing segment in the global IoT telecom services market is network performance monitoring. With the expansion of IoT deployment in scale and complexity, ensuring optimal performance and accuracy of network infrastructure becomes important. Network performance monitoring and optimization solutions provide real time insights into network performance metrics, find out potential restrictions and improve network resources to enhance efficiency and accuracy. The growth of this this segment is driving due to the increasing demand for high quality connectivity, the need to deliver seamless user experiences and the adoption of advanced technologies such as AI and machine learning for predictive network maintenance.
Global IoT Telecom Services Market By Connectivity
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IoT Telecom Services Market Regional Insights
North America emerges as the largest region in terms of the market size. This is due to the dominance of advanced telecommunications infrastructure, early adoption of IoT technologies across industries, and a conductive regulatory environment boosting innovation and investment. It is anticipated to grow at a CAGR of 33.23% through the forecast period. The presence of the key market players and technological advancement in IoT solutions also solidify North America's position as leading region in the global market.
On the other hand, the Asia Pacific region represents the fastest growing market for IoT telecom services. This growth has surged due to the rapid urbanization, increasing demand for connected devices and smart solutions, and government initiatives encouraging digitalization and IoT adoption. Some countries like China, India and South Korea are observing significant investments in IoT infrastructure and deployment across various sectors such as manufacturing, transportation and healthcare. Additionally, the expanding population, rising disposable income and rapidly growing middle class contribute to the surge in demand for IoT services in the Asia Pacific region. As a result, it is forecasted to experience the highest growth rate in the global IoT telecom services market in the upcoming future.
The European region is also witnessing a rise in the number of iot enabled applications and services including smart homes, connected cars and smart cities. This is fueled by increasing availability and adoption of IoT technologies supported by telecom operators who are expanding their offerings to include IoT services, particularly 5G networks. The expansion of 5G networks in Europe is expected to drive the growth of the IoT telecom services market by providing high speed and connectivity, which is crucial for powering advanced IoT applications across various sectors.
Global IoT Telecom Services Market By Geography
- Largest
- Fastest
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IoT Telecom Services Market Dynamics
Drivers
Advancements in Technology and Innovation
- With time, there has been a growing demand for better connectivity as companies are making technological advancements and increasing innovation. These are driving the adoption of IoT in the telecom industry and stimulate market expansion. The technology that can improve data management has also grown, thus increasing the volume of telecommunications related data. Manufacturers have emphasized the importance of IoT and wireless connectivity. Additionally, factors such as increased Tell coke adoption, the proliferation of smart connected devices, the necessity for network bandwidth management and the automation of communication processes are expected to boost the market of IoT telecom services. For the more the growth of next generation wireless networks. The adoption of smart technologies and the use of distributed applications our expected to impart growth opportunities for the telecom IoT market throughout the forecast.
IoT Powered Smart Cameras
- For security purposes, telecom companies are installing smart cameras powered by IoT technology in places where expensive equipment are being used and some companies which use fuel and batteries to power machinery in remote areas. The cameras can detect any interfering and then can alert the authorities at same time. Telecom companies can also use beacon and RFID badges to secure the areas and stop unwanted access. They can also create a virtual barrier such as geofence for their iOS devices that only allow authorised people to enter. Using IoT in this way helps telecom companies to make sure that their security measures are effectual.
Restraints
High Cost Associated
- The high cost, which is related for the implementation of IoT telecom services, is a significant obstacle to market growth. These require expensive hardware, software and services which can be challenging for many businesses despite the potential benefits.
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IoT Telecom Services Market Competitive Landscape
The global IoT telecom services market is dominated by significant portions of the market, but there are also some smaller companies offering specialised services and solutions. It provides a mixed nature of IoT applications and the different needs of various industries. Major telecom complaints like AT&T, Verizon and Vodafone are leading the market but at the same time smaller players also exist which focus on regional markets. This dynamic landscape promotes innovation and competition Which is driving the continuous evolution of IoT telecom services.
Top Player’s Company Profile
- AT&T, Inc.
- Ericsson
- Verizon Communications Inc.
- Deutsche Telecom AG 5
- Huawei Technologies Co Ltd.
- Sprint Corporation
- NEC Corporation
- Entrust Datacard Corp.
- HRMAN International Industries, Inc. IBM Corp.
- Modius Inc.
- Zebra Technologies
- LANCOM Systems
- Nippon Telegraph & Telephone Corp.
- Panorama software.
- SAP SE.
- ADTRAN
- Singapore Telecommunications Limited
- SoftBank Group Corp.
- Telefonica SA
- T- Mobile USA Inc.
- Vodafone Group PLC.
Recent Developments
- In December 2023, Vodafone Business joined forces with Bridgepointe to provide fixed mobile and IoT services to businesses in the United States. This partnership means that Vodafone will now be a part of Bridge Points Advisory Network, allowing American multinational companies to use Vodafone's global network for their communication requirements, including mobile, fixed line and IoT solutions. This collaboration aims to provide US-based businesses with access to a wider range of services and better connectivity, helping them operate better and across different regions.
- In August 2023, Orido Group became a member of the IoT World Alliance, which aims to enhance IoT connectivity and collaboration. This partnership denotes or reduce commitment to strengthening IoT solutions and encouraging cooperation within the industry. By joining the Alliance, ORIDO seeks to gain its expertise and resources to drive innovation and facilitate uninterrupted IoT connectivity across different sectors and regions. This partnership denotes or reduce commitment to strengthening IoT solutions and encouraging cooperation within the industry. By joining the Alliance, ORIDO seeks to gain its expertise and resources to drive innovation and facilitate uninterrupted IoT connectivity across different sectors and regions.
IoT Telecom Services Key Market Trends
- Increased Adoption of 5G Technology: The rising adoption of 5G technology has contributed to the expansion of IoT telecom services market. Due to the enhanced speed in 5G network, it enables rapid and secure transmission of large amount of data, creating new possibilities for businesses to use IoT for innovative products and services. Moreover, the increased accuracy of 5G builds trust among businesses and customers regarding the connection and the data being transmitted.
- Rise of 3GPP Based Satellite Connectivity: Satellite connectivity, which is based on three GPP standards, is gaining popularity with big chipset manufacturers like Mediatech, Qualcomm and Sony Semiconductor showcasing their latest advancement. For instance, MediaTek’s MT6825 powers Motorolas Defy Satellite Link, a compact device enabling two-way satellite communication useful in areas with limited terrestrial network coverage. This highlight. The growing importance of satellite connectivity, especially in remote areas.
IoT Telecom Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global IoT telecom services market analysis, the appearance of technologies such as NB, IoT and RF holds a major significance for applications in smart homes and cities, increasing the growing demand for IoT telecom services. Using IoT in the telecom sector improves production efficiency, reduces consumption, saves on labor and enables smart development. This helps telecom companies to change their business model and lead their markets. Cellular technology holds the largest share providing connectivity across different applications and LPWAN is the fastest growing segment due to its ability to support various low power devices over long distances with less infrastructure requirements. North America is experiencing growth and holds the highest share in the global IoT telecom services market because of mature infrastructure and large adoption of IoT technologies. Meanwhile, Asia Pacific is experiencing rapid expansion fueled by increasing investment, rising adoption of connected devices and supportive government initiatives, placing it as one of the quickly growing markets in the industry. A major trend in the global IoT telecom services is the adoption of 5G technology which enables faster data speeds. Major market players are inspecting new technologies and applications to meet the increasing demands of the customer.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 27.2 Billion |
| Market size value in 2032 | USD 45.86 Billion |
| Growth Rate | 36.9% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on IoT Telecom Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on IoT Telecom Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the IoT Telecom Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the IoT Telecom Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the IoT Telecom Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the IoT Telecom Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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