Published on : Dec 23, 2016
ALBANY, NY, Dec 23, 2016: The report serves as a repository of analysis and information regarding market dynamics, competitive landscape, application, business area, and geographical segmentation.
As per the findings of the report, the global telecom IoT market will exhibit an impressive CAGR of more than 42% between 2016 and 2020. The increasing adoption of intelligent transportation systems (ITS) market is primarily driving the market. Several private and public investors are pouring funds into the development of smart solutions, which in turn is bolstering the growth of the market.
In terms of geography, the Americas will continue to be the leading revenue contributor until 2020. The growing adoption of IoT services and products by various enterprises across the region to improve business efficiency and the increasing investments by governments towards the development of smart cities will trigger the growth of the regional market.
On the basis of business area, the global telecom IoT market is segmented into smart building, smart energy, smart manufacturing, smart healthcare, and smart mobility. Smart building will continue to be the dominant segment until the end of 2020. To enhance user experience and control and reduce the usage of electricity, smart buildings deploy equipment such as smart meters, sensors, security systems, and monitoring devices. Benefits such as reduced consumption of water and electricity and decreased maintenance costs are fuelling the demand for smart building solutions.
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Based on application, the global telecom IoT market is divided into premises monitoring, supply chain monitoring, customer monitoring, and product monitoring. The market is currently led by the product monitoring segment. However, customer monitoring is expected to surpass the segment by the end of the forecast period. Customer monitoring supports real-time location-based advertising assisted by sensor-based smartphones, which aids enterprises in improving the effectiveness of their advertising campaign. In addition, it helps the healthcare providers in enhancing operational effectiveness by enabling patients’ health monitoring from remote locations.
The global telecom IoT market is characterized by the presence of well-diversified multinational corporations and regional players. As the international players are expanding their reach across different regions, local companies are finding it extremely difficult to compete with them in terms of features such as technology, product quality, and pricing. Due to the shifting consumer preference towards technologically advanced products, players are increasingly focusing on developing innovative wireless technologies. Owing to all these factors, there is a high competitive rivalry in the market and the increasing commercial deployments, mergers and acquisitions, and technological innovations are further intensifying the competition.
The leading companies in the global telecom IoT market are China Mobile, Ericson, Vodafone, Verizon Communications, Deutsche Telekom, and AT&T. Other prominent players are BT (EE), Aeris, China Unicom, China Telecom, KT, Huawei Technologies, Orange Business Services, MTN, Singtel, Rogers Communications, Sprint, SK Telecom, Telefónica, Tele2, TeliaSonera, Telenor, and ZTE.
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