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IoT Telecom Services Global Market Report 2022: Ukraine-Russia War Impact
Major players in the iot telecom services market are AT&T Intellectual Property, Verizon, Deutsche Telekom AG, Huawei Technologies Co, Aeris, China Mobile Limited, Entrust Datacard Corporation, HARMAN International, IBM, Modius Inc, Vodafone Group, Sprint Corporation, Swisscom AG, Singapore Telecommunication Limited, T-Mobile, Vodafone Group PLC, BT Group, CenturyLink, Nippon Telegraph & Telephone Corp, Panorama Software, SAP SE, Softbank Group Corp, Telefonica SA , Telstra, Sierra Wireless, PureSoftware, Sequans Communications, Orange, Telus and MediaTek.
New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "IoT Telecom Services Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06370354/?utm_source=GNW
The global IoT telecom services market is expected to grow from $10.20 billion in 2021 to $13.59 billion in 2022 at a compound annual growth rate (CAGR) of 33.19%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe.The IoT telecom services market is expected to grow to $47.29 billion in 2026 at a compound annual growth rate (CAGR) of 36.59%.
The IoT telecom services market consists of sales of IoT telecom services by entities (organizations, sole traders, and partnerships) that are used to connect diverse physical assets to the cloud and remotely manage their operations.The IoT telecom services refer to asset management and remote system monitoring, the most prominent IoT telecom application cases.
Telecom firms link their different physical assets to the cloud and remotely monitor their operations, conduct firmware upgrades, investigate problems, and keep track of inventories.
The main IoT telecom services types include business consulting services, device and application management services, installation and integration services, IoT billing and subscription management, and M2M billing management.Business consulting services involved in business planning, implementation, and others for IoT in telecom.
The different IoT telecom services connectivity include cellular technologies, LPWAN, NB-IoT, and radio frequency-based. The IoT telecom services network management solutions include network performance monitoring and optimization, network traffic management, and network security management for applications in smart building and home automation, capillary networks management, industrial manufacturing and automation, energy and utilities, healthcare, and other applications.
North America was the largest region in the IoT telecom services market in 2021. The regions covered in the IoT telecom services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing adoption of 5G networks across the world will propel the IoT telecom services market during the forecast period. 5G is the 5th generation mobile network for higher speed and responsiveness of wireless networks. With increased 5G network speed, bandwidth, and lower latency, connected devices can communicate effectively, giving telecom companies quicker and better asset management and remote system monitoring options. According to a 2022 study conducted by Verizon, a US-based telecommunications company and Incisiv, a US-based consumer industry insights company, the overall 5G adoption stands at about 13%, which is expected to triple by 2024. Therefore, increasing the adoption of 5G networks will drive the IoT telecom services market.
Technological advancement is a key trend gaining popularity in the IoT telecom services market.Major market players are focusing on creating innovative technologies for strengthening their portfolios, such as integrated Internet of Things (IoT) solutions.
For instance, in April 2021, Vi, an Indian telecom operator, announced its integrated Internet of Things (IoT) solutions for organizations to expand its IoT portfolio by offering solutions across industries for smart infrastructure, smart mobility, and smart utilities across its 5G-ready network. The new offering is a secure end-to-end IoT solution that includes connection, hardware, network, application, analytics, security, and support.
In July 2022, Ericsson, a Sweden-based company engaged in networking and telecommunications, acquired Vonage for an undisclosed amount.With this acquisition, Ericsson strengthens its mobile network business.
The deal allows Ericsson access to powerful building blocks to offer a full range of communications solutions, including Communications Platform as a Service (CPaaS), UCaaS, and CCaaS. Vonage is a US-based company engaged in cloud communications.
The countries covered in the IoT telecom services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The IoT telecom services market research report is one of a series of new reports that provides IoT telecom services market statistics, including IoT telecom services industry global market size, regional shares, competitors with a IoT telecom services market share, detailed IoT telecom services market segments, market trends and opportunities, and any further data you may need to thrive in the IoT telecom services industry. This IoT telecom services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06370354/?utm_source=GNW
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