IoT Telecom Services Market – Global Industry Perspective, Comprehensive Analysis And Forecast, 2018 – 2025
NEW YORK, NEW YORK, UNITED STATES, February 26, 2020 /EINPresswire.com/ — The IoT (Internet of Things) telecom services is a collection of services provided by the telecom companies to their commercial clients to facilitate the easy use of advanced connectivity technologies to their networks and business processes. The services also offer improved data security & privacy, real-time analytics, asset management, interoperability, and many others. The IoT telecom services are mainly used by telcos for their business clients to ensure vital machine-centric connectivity. The significant need for uninterrupted connectivity and advanced monitoring of networks are mainly addressed by IoT telecom services.
The surging application of IoT telecom services across different industries owing to the need for better connectivity is expected to drive the demand in the future. Growing applications such as industrial automation, smart buildings, and vehicle telematics will boost the expansion of IoT telecom services over the estimated period. Furthermore, LPWAN (low-power wide-area) technologies are likely to change mobile WAN and short-range wireless technologies including Wi-Fi, Bluetooth, & NFC (Near Field Communication), which are utilized for short-range. Currently, some of the short-range technologies are incompatible with IoT applications due to factors such as high costs, complex infrastructure, and power consumption levels. This is generating opportunities for LPWA technologies. The increasing implementation of the telco cloud is also likely to propel the demand for IoT telecom services market worldwide. Nevertheless, factors like lack of guidelines for spectrum allocation and billing challenges between telecom operators and OTT (over-the-top) players can obstruct the development of IoT telecom services market.
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The global IoT telecom services market is anticipated to augment at a significant rate due as the enterprises and businesses are inclined toward the IoT. On one side, the technology companies are working on incorporating IoT into their decision value chains & support systems and on the other side the solution providers are speeding up their contributions to maintain their position in the market. The increasing application of IoT in smart healthcare, logistics tracking, traffic management, and other segments are supporting the expansion of the IoT telecom services market. In addition, the significantly growing electrical & electronics industry along with surging consumer demand for electronics and connected devices efficiently are likely to foster market growth.
The considerable rise in the automation technology and stimulating distributed application along with advanced latest generation wireless networks will impel market growth in the future. The automotive companies are focusing on UMV that needs automation in the transportation & logistics segment. This will also take into account several smart sensors to monitor, track, examine, and assemble data to process it on the cloud to aid study in safety procedures, driving patterns, and therefore plummeting road accidents. All these aspects will support expansion for the IoT telecom services market. During June 2017, AT&T signed an agreement along with China Telecom to expand collaboration to develop network services globally.
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Source: EIN Presswire