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iot 2023

Global Internet of Things (IoT) Telecom Services Market to Reach $112.2 Billion by 2027

The Internet of Things (IoT) telecom services is a set of services offered by the telecom firms to their commercial clients to ensure easy deployment of smart connectivity technologies to their networks and business processes and offers enhanced data security and privacy, interoperability, asset management, real-time analytics, and many others. IoT telecom services primarily are being deployed by telcos for their commercial clients to ensure critical machine centric connectivity. The critical need for continuous connectivity and smart monitoring of network are majorly addressed by IoT telecom services.

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Amid the COVID-19 crisis, the global market for Internet of Things (IoT) Telecom Services estimated at US$11.9 Billion in the year 2020, is projected to reach a revised size of US$112.2 Billion by 2027, growing at a CAGR of 37.8% over the period 2020-2027. 

Services, one of the segments analyzed in the report, is projected to record 38.8% CAGR and reach US$90.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solutions segment is readjusted to a revised 34.1% CAGR for the next 7-year period.

 

The U.S. Market is Estimated at $3.6 Billion, While China is Forecast to Grow at 35.6% CAGR iot telecom services

The Internet of Things (IoT) Telecom Services market in the U.S. is estimated at US$3.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.9 Billion by the year 2027 trailing a CAGR of 35.6% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 34.6% and 31.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 25.4% CAGR.

Some of the established players in this market are:

  • Aeris Communications, Inc.
  • AT&T, Inc.
  • BT Group PLC
  • CenturyLink, Inc.
  • China Mobile, Ltd.
  • Deutsche Telekom AG
  • Entrust Datacard Corp.
  • HARMAN International Industries, Inc.
  • Huawei Technologies Co., Ltd.
  • IBM Corp.
  • Modius, Inc.
  • Nippon Telegraph & Telephone Corp.
  • Panorama Software
  • SAP SE
  • Singapore Telecommunications, Ltd.
  • Softbank Group Corp.
  • Telefonaktiebolaget LM Ericsson
  • Telefonica SA
  • T-Mobile USA, Inc.
  • Vodafone Group PLC

 

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