Published Date: 21-Feb-2023
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According to a new report, published by KBV research, The Global IoT Telecom Services Market size is expected to reach $97.9 billion by 2028, rising at a market growth of 31.8% CAGR during the forecast period.
The Network Performance Monitoring & Optimization segment acquired maximum revenue share in the Global IoT Telecom Services Market by Network Management Solution in 2021 thereby, achieving a market value of $45.1 billion by 2028. The introduction of 5G has proffered communication providers with a set of operational challenges that are becoming increasingly dynamic. The anticipated increase in latency-sensitive devices and the massive amounts of data they generate are causing networks to become denser than ever. To deliver on new opportunities generated by IoT, mixed reality technologies, and others, service providers are transitioning to highly complex network infrastructures, incorporating new technologies such as network slicing.
The Business Consulting Services segment has shown the growth rate of 31 % during (2022 - 2028). By implementing initiatives such as the Internet of Things and using them to collect and analyze large amounts of data generated by telecom operators, businesses can identify current trends and determine customer behavior, enabling them to implement more effective marketing, sales, and production strategies, thereby attracting and retaining new customers. All of these factors are crucial for delivering a high level of service as well as boosting customer satisfaction, which is driving market growth in this segment.
The Cellular Technology segment is generating highest revenue share in the Global IoT Telecom Services Market by Connectivity in 2021 thereby, achieving a market value of $43.9 billion by 2028. An IoT platform enables remote management of cellular IoT devices, allowing the user to disconnect, connect, or troubleshoot devices from any location. With the proper IoT platform, one can also monitor device downtime, usage, and any other relevant metrics, maximizing their IoT project.
The Smart Healthcare segment is showcasing a CAGR of 33.2% during (2022 - 2028). The increasing acceptance of mHealth, government initiatives to digitize healthcare, and the prevalence of chronic diseases are likely to increase the demand for intelligent healthcare systems. The digital revolution has revolutionized the healthcare industry. The implementation of mHealth has risen significantly in the last few years, primarily as a result of the growing popularity of smartphones and the digital revolution. All of these factors supporting the development of smart healthcare would also contribute to the expansion of the market in this segment.
The North America market dominated the Global IoT Telecom Services Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $35.3 billion by 2028. The Europe market is exhibiting a CAGR of 31% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 33% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/iot-telecom-services-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Orange S.A., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), AT&T, Inc., Vodafone Group Plc, MediaTek, Inc., Sequans Communications S.A., China Mobile Limited, Telstra Corporation Limited, Sierra Wireless, Inc. (Semtech Corporation), and Ericsson AB.
By Network Management Solution
Unique Offerings from KBV Research
North America IoT Telecom Services Market size & Opportunities 2022-2028
Europe IoT Telecom Services Market & Growth Forecast 2022-2028
Asia Pacific IoT Telecom Services Market Share & Industry Outlook to 2028
LAMEA IoT Telecom Services Market Growth, Trends & Forecasts 2022-2028