Internet of Things (IoT) telecom services are gaining traction owing to rising adoption of smart technologies, the proliferation of smart devices and sensors, and critical need for enhanced connectivity between smart devices. The rising demand for network modernization and bandwidth automation are some of the other factors contributing to the growth of the IoT telecom services market. MarketsandMarkets forecasts the IoT telecom services market size to grow from USD 2.90 Billion in 2016 to USD 17.67 Billion by 2021, at a CAGR of 43.6% from 2016 to 2021. Telecom service providers are increasingly introducing impressive offerings in the IoT space and ushering a new age of machine-centric connectivity.
There are several established players in this market such as AT&T, Inc. (U.S.), Ericsson (Sweden), Verizon Communications, Inc. (U.S.), Deutsche Telekom AG (Germany), Huawei Technologies Co., Ltd. (China), Sprint Corporation (U.S.), Swisscom AG (Switzerland), Vodafone Group, Plc. (U.K.), Aeris (U.S.), China Mobile Ltd (China), and T-Mobile USA, Inc. (U.S). These leading players have adopted various strategies such as partnerships, collaborations, agreements, mergers & acquisitions, and new product developments to achieve growth in the global IoT telecom services market.
AT&T, Inc. is one of the leading players in the IoT telecom services market. The company adopted both organic as well as inorganic strategies to enhance its presence in this market. It entered into various partnerships and strategic alliances with local as well as global players. For instance, in April 2016, AT&T, Inc. partnered with SunPower Corporation, a leading solar products provider, to offer solar IoT connectivity in the U.S. The company acquired Lusacell, a Mexican telephone operator and wireless service provider, to expand its wireless network service in Mexico.
Deutsche Telekom AG is another major provider of IoT telecom services. The company has various offices worldwide including North America, Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), and Latin America. The company focuses more on inorganic growth strategies to tap into the IoT telecom services market. For instance, in April 2016, Deutsche Telekom AG partnered with GE Digital to promote industrial IoT. This partnership enabled Deutsche Telekom to add connectivity and security competences to GE’s cloud platform.
IoT Telecom Services Market by Component, Connectivity Technology (Cellular, LPWAN, NB-IoT, and RF-Based), Network Management Solutions, Service (IoT Billing & Subscription and M2m Billing Management), and Application - Global Forecast to 2021
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