IoT Telecom Services Market size is analysed to grow at a CAGR of 16.1% during the forecast 2022-2027 to reach $17.92 billion by 2027.
The Internet of Things (IoT) telecom services is a collection of services provided by telecom companies to their commercial clients in order to facilitate the deployment of smart connectivity technologies across networks and business processes. Malware attacks drive the need for IoT network security management. These services include enhanced data security and privacy, interoperability, asset management, realtime analytics, and many more. Telcos are primarily deploying IoT telecom services for their commercial clients to ensure critical machine connectivity.
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Key Takeaways
•North America is analyzed to be the major region with a share of 35% in 2021 for the IoT Telecom Services Market. The rising adoption of smart connected devices and technologies, as well as telcos promoting OTT applications, are driving the growth of IoT telecom services in this region
•IoT in the telecom sector has been optimizing network service performance through the integration of IT tools. Traditional IT has emerged as an effective tool for telecom service management. It is making its way through the changing telecom landscape around the world as one of the most effective tools for lowering the costs associated with network equipment operation.
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3677
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IoT Telecom Services Market Segment Analysis – By Connectivity
By Connectivity, IoT Telecom Services Market has been segmented into Cellular Technologies, LPWAN, NB-IoT, Radio Frequency-Based. During the forecast period, the NB-IoT is expected to witness highest CAGR. It is projected to record a 26.4% CAGR and reach $15.2 Billion by 2027. NBIoT (Narrowband-IoT) is a narrowband radio technology for M2M and Internet of Things (IoT) devices and applications that require wireless transmission over a longer range at a low cost and with minimal power consumption for long battery life.
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