The telecom cloud market is poised for remarkable growth with a projected CAGR of 15.2%. This robust expansion is expected to propel the market to a substantial valuation of US$ 99.4 Billion by the year 2032. The surge in demand for advanced telecommunications services and the increasing adoption of cloud-based solutions within the telecommunications sector are key drivers behind this anticipated growth.
During the pandemic, as individuals lived at home during the shutdown and businesses opted to work remotely, massive data consumption led to a spike in demand for telecom cloud installations, which significantly contributed to the market growth. Cloud has been one of the key themes of conversation in the telecom business in 2021 with the development of cloud-native 5G technology.
The public cloud solution provides on-demand infrastructure, lowering capital expenditure as well as continuous operational and life-cycle control. The public cloud may be a terrific incubator environment for not just developing new apps and services, but also bringing them to market and scaling them quickly.
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Many corporate firms rely on the public cloud as their base. Telecom companies are increasingly looking to collaborate using public cloud services to use their computational capacity and their strong network skills on the back end.
Hyperscalers such as Amazon, Google, Microsoft, and Oracle often establish and manage a uniform tech environment with public cloud platforms. CSPs, on the other hand, buy solutions from a variety of vendors who compete and advance in different directions, sometimes marginally, sometimes significantly.
Also, The BFSI sector outsources non-core functions to save money and enhance efficiency. As a consequence, targeted content views and precise financial data are required, which may be merged via a telecommunications cloud service.
Competitive Landscape:
The market is fiercely competitive, where key players are increasingly focused on obtaining a competitive advantage. The key companies in the Telecom Cloud Market are focused on R&D to produce innovative technological solutions.
In April 2021, Momentum Telecom, a global provider of managed networks and cloud voice, revealed that it had accomplished its purchase of Atlus Technology, a Tennessee-based leader in the development of cloud-based unified communications solutions.
In December 2020, Cisco announced the purchase of IMImobile, a cloud telecommunications software and service provider, allowing Cisco to provide its customers with an end-to-end client engagement management solution.
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Market Segments Covered In Telecom Cloud Market Analysis
By Type:
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Cloud Computing Service:
- IaaS
- PaaS
- SaaS
By Application:
- Data Storage
- Achieving
- Computing
- Enterprise Application
- Other Applications
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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