Global Internet of Things (IoT) Telecom Services Market Size study & Forecast, by Component (Connectivity Technology, Network Management Solution, Services), Service Type (Device And Application Management, Business Consulting Services, IoT Billing And Su

The Global Internet of Things (IoT) Telecom Services Market is valued at approximately USD 41.59 billion in 2024 and is anticipated to grow with a robust CAGR of more than 35.23% over the forecast period 2025-2035. IoT telecom services encompass the suite of solutions that enable devices, applications, and enterprises to interconnect seamlessly over telecom networks, driving transformative use cases across industries. As IoT adoption scales exponentially, telecom operators are pivoting toward IoT-centric service offerings to capture new revenue streams and meet escalating demand for real-time connectivity, scalability, and security. The integration of 5G networks, proliferation of edge computing, and increasing reliance on cloud-native infrastructure are significantly enhancing IoT telecom service delivery. Global enterprises are deploying IoT-driven solutions to optimize operational efficiency, accelerate digital transformation, and generate data-driven insights.

The market expansion is further accelerated by the surging adoption of smart devices, rising demand for connected vehicles, and the boom in industrial IoT ecosystems. IoT telecom services are essential for enabling low-latency communication, managing billions of device connections, and orchestrating complex data flows across ecosystems. According to industry estimates, IoT-connected devices worldwide are expected to surpass 29 billion by 2030, creating massive demand for telecom-managed IoT services. Growing smart city projects, coupled with heavy investment in 5G infrastructure, are intensifying opportunities for telecom operators to expand IoT service portfolios. However, concerns related to cybersecurity, interoperability challenges, and high deployment costs remain constraints, particularly for small and medium-sized enterprises, during the forecast period of 2025–2035.

The detailed segments and sub-segments included in the report are:

By Component:
• Connectivity Technology
• Network Management Solution
• Services

By Service Type:
• Device And Application Management
• Business Consulting Services
• IoT Billing And Subscription
• Installation And Integration Services
• M2M Billing Services

By Application:
• Smart Buildings
• Automation
• Capillary Network Management
• Vehicle Telematics
• Energy And Utilities
• Smart Healthcare
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Among the application segments, Smart Buildings are expected to dominate the IoT telecom services market throughout the forecast horizon. The demand for intelligent building solutions, including energy-efficient systems, remote monitoring, and advanced security integration, continues to grow rapidly in both developed and emerging economies. Businesses and governments alike are heavily investing in smart building initiatives to reduce operational costs, enhance sustainability, and improve occupant experiences. Telecom providers play a pivotal role in enabling these ecosystems by delivering secure, high-speed connectivity and network orchestration tailored for complex smart infrastructure.

In terms of revenue contribution, Device and Application Management services currently lead the IoT telecom services market. These services are indispensable for handling the scale, complexity, and lifecycle management of IoT devices across multiple verticals. Telecom operators are increasingly offering integrated platforms to provision devices, update software remotely, and manage real-time performance metrics. While device and application management is the revenue backbone today, IoT billing and subscription services are rapidly emerging, fueled by enterprises embracing subscription-based models and flexible billing mechanisms for diverse IoT deployments.

The key regions considered for the Global Internet of Things (IoT) Telecom Services Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America currently dominates due to its advanced telecom infrastructure, early rollout of 5G networks, and strong presence of leading IoT service providers. Europe follows closely, driven by stringent regulatory standards, digital transformation initiatives, and widespread adoption across automotive and healthcare sectors. Asia Pacific, however, is anticipated to be the fastest-growing region during the forecast period, supported by massive industrial automation projects, rising smart city initiatives, and the rapid expansion of mobile and internet penetration across China, India, and Southeast Asia. Latin America and the Middle East & Africa are gradually emerging, bolstered by growing telecom investments and increasing IoT adoption in smart utilities and transportation.

Major market players included in this report are:
• AT&T Inc.
• Verizon Communications Inc.
• Vodafone Group Plc
• China Mobile Limited
• Deutsche Telekom AG
• Telefónica S.A.
• Orange S.A.
• BT Group Plc
• NTT Communications Corporation
• SK Telecom Co., Ltd.
• T-Mobile US, Inc.
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd.
• Ericsson AB
• Nokia Corporation

Global Internet of Things (IoT) Telecom Services Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand side and supply side analysis of the market.

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