Market Highlights
The global telecom cloud market is garnering exponential traction. The market growth attributes to the rapidly growing telecom and communication industry, presenting a good foundation for addressing enterprises and consumers. Besides, the strong presence of notable industry players drives market growth, providing a good foundation for addressing enterprises and consumers. Moreover, the growing importance of cloud computing in the telecommunication industry escalates market growth.
According to Market Research Future (MRFR), the global telecom cloud market is poised to create a value of approximately USD 29 B.N. by 2022, growing at over 20% CAGR throughout the forecast period (2016 – 2022). Rapid shift of data from on-premise to on-cloud fuel the market growth, benefitting users with a strong data server. Besides, the rising trend of outsourcing of I.T. management and technical support to third-party cloud-based services to automate and enhance business operations boost the market growth.
Additionally, increasing usage of cloud-based applications in the growing number of businesses for data storage substantiates market growth. Increasing availability of cost-effective, cloud-based applications for data storing creates enormous market demand. Also, the increasing usage of cloud-based telecom services to efficiently manage I.T. operations encourages the growth of the market. Furthermore, the rising need to reduce the I.T. cost and growing focus on business functions foster market growth.
On the other hand, security issues related to the use of public cloud services in a secure manner is a key factor estimated to impede market growth. Some of the associated risks, such as data theft, data misuse, and private information leakages, restrict the uptake of cloud managed services. Nevertheless, the rise in cloud automation to support business needs while delivering services would support market growth throughout the assessment period.
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Segmentation:
The report is segmented into six dynamics;
By Services : Communication as a Service, Network as a Service, and others.
By Solutions : Unified Communication and Collaboration (UCC), Content Delivery Network (CDN), WebRTC, Over-the-Top (OTT), and others.
By Applications : Billing, Customer Management, Provisioning & Traffic Management, and others.
By Cloud Platform:SaaS, PaaS, IaaS, and others.
By End-Users : Banking, Healthcare, Government, Transportation, Entertainment, and others.
By Regions : Americas, Europe, APAC, and Rest-of-the-World.
Telecom Cloud Market – Regional Analysis
North America dominates the global telecom cloud market. The largest market share attributes to the increased penetration of telecom cloud services in rising numbers of organizations for better communication and connectivity. Besides, growing advances in telecom technologies and strong technical knowledge among demographics drive the regional market growth.
Moreover, the presence of major market players and wide adoption of telecom cloud foster the growth of the regional market. Simultaneously, well-established infrastructure and seamless internet connectivity impact the growth in the regional market, positively. Furthermore, the emergence of advanced solutions, in turn, propels the telecom cloud market growth. The North American telecom cloud market is expected to retain its dominance throughout the estimated period.
Europe stands second in the global telecom cloud market. The region shows positive signs for the telecom cloud owing to the availability of some of the best-managed services. Additionally, the market is driven by the proliferation of advanced technologies, the Internet, and smart connected devices in the region foster the growth of the telecom cloud market. Besides, schemes such as the European cloud initiatives drive the market growth, providing telecom companies with infrastructure, data storing, and managing solutions and high-speed connectivity for transportation of data.
The Asia Pacific telecom cloud market is growing rapidly. Factors such as government initiatives to develop data-driven solutions and improving competitiveness boost the telecom cloud market growth. Moreover, the increasing adoption of online managed services across industries fosters regional market growth. Furthermore, the rising adoption of cloud-based business applications and an increase in cloud service providers positively impact regional market growth. The APAC telecom cloud market is estimated to grow at the highest CAGR over the forecast period.
Global Telecom Cloud Market - Competitive Analysis
The fiercely competitive, the telecom cloud market appears fragmented due to the presence of several major players. Industry players initiate strategies such as mergers & acquisitions, collaborations, and product/technology development to gain a larger competitive share. Substantial investments are transpired to develop products and expand global footprints.
Major Players:
Players leading the telecom cloud market include China Telecommunications Corporation (China), AT&T Inc.(U.S.), Telus Corporation (U.S.), Verizon Communications, Inc.(U.S.), T-Mobile International AG(Germany), Fusion Telecommunications International, Inc.(U.S.), CenturyLink, Inc.(U.S.), NTT Communications Corporation(Japan), Telstra Corporation Limited (Australia), and B.T. Group PLC (U.K.), among others.
Industry/ Innovation/ Related News:
August 06, 2020 ---- Equinix, Inc. (the U.S.), a multinational company specializing in Internet connection and data centers, announced its partnership with Google Cloud to better serve migrations to hybrid multi-cloud. The expanded partnership pairs Equinix Cloud Exchange Fabric (ECX) with Google Cloud Interconnect to enable scalable, hybrid multi-cloud services to support enterprises' digital transformations and growth.
The partnership enables both companies' customers to move more easily and connect their workloads into Google Cloud. As additional support to businesses looking to simplify hybrid multi-cloud infrastructures, Equinix recently rolled out one of its robust ECX Fabric expansions, providing increased access to clouds, networks, partners, and customers.
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Telecom Cloud Market, by Services (Communication as a Service, Network as a Service), by Applications (Billing, Customer Management, Provisioning & Traffic Management), by Cloud Platform (SaaS, PaaS, IaaS) - Forecast 2022
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