According to a survey newly published by Future Market Insights, sales of telecom enterprise services market globally were predicted to reach US$ 202.9 billion in 2021.The market is expected to grow by 3.7% between 2022 and 2032, which is a significant improvement over previous trends. The market category that generates the highest revenue is expected to be voice-based telecom enterprise services, which are anticipated to expand at a CAGR of more than 3.6% between 2022 and 2032.
One of the key factors boosting the market is an increase in investment in the 5G infrastructure rollout as a result of a shift in consumer preference toward cutting-edge technologies and mobile platforms. Growth in mobile users, a boom in the market for high data connectivity, and a rise in demand for value-added managed services are further factors that could speed up market progress. Additionally, OTT service providers are expanding the range of their offerings, which has an effect on a number of industry sectors.
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Revenue Of Telecom Enterprise Services Market From 2015 To 2021 Compared To Demand Outlook For 2022 To 2032
As per the Telecom Enterprise Services Market research by Future Market Insights – a market research and competitive intelligence provider, historically, from 2015 to 2021, market value of the Telecom Enterprise Services Market increased at around 4.3% CAGR.
The surge in adoption of cloud-based technologies as well as the telecommunications sector’s advancements globally are expected to play a crucial role in providing architectural options to the competitors.
For example, the Filogic 880 & Filogic 380 Wi-Fi 7 network technologies for high-bandwidth solutions in the telecom, retail, enterprise, and consumer electronics industries were unveiled by MediaTek, a multinational fabless semiconductor firm.
In the recent decade, the telecommunications sector has witnessed a tremendous transformation. The necessity for a high-speed connection, voice channels, and the emergence of BPO/back-office enterprises have contributed to an increase in the demand for IP and global private-leased circuits. National e-governance efforts including unique identification/social security, financial inclusion measures, and expanding connections in rural regions are promoting telecom enterprise service uptake.
Furthermore, considerable industrial activity is also propelling telecom enterprise services. The emergence of IT & ITES business in emerging nations has resulted in a rise in total industrial activity. Banking and IT & ITES are two significant industries that are implementing telecom enterprise services and connectivity solutions to improve the client experience. This has created enormous opportunities for global operators to develop and conduct business with enterprises operating in these industries. RecVue announced the RecVue Agile Monetization Platform (RAMP360), which represents a real distillation of the company’s dedication to innovation and the goal of enabling major organizations to accelerate development and profitability in the digital economy.
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Competitive Landscape
- The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Telecom Enterprise Services Market are focused on R&D to produce innovative technological solutions.
- In February 2021, AT&T Inc. with Verizon Communications paid roughly USD 70 billion for 5G spectrum to increase network connection for its consumers.
- In April 2020, T-Mobile US, Inc. acquired Sprint Corporation, with an objective to establish a strong 5G internet infrastructure in the United States and acquire the greatest market share in both rural and urban regions.
Market Segments Covered In Telecom Enterprise Services Market Analysis
By Solution:
- Voice
- Data/Internet Service
- Wireless/Mobility
- Managed Services
- Cloud Service
By End-user:
- SMEs
- Large Enterprises
By Revenue Stream:
- Master Agent
- Carriers
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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