The Global Telecom Cloud Market was valued at USD 24.0 Bn in 2020 and is expected to reach USD 81.1 Bn by 2027, with a growing CAGR of 19.1% during the forecast period (2021-2027).
Telecom operators choose cloud computing services that avoid disruptions in their networks and enable remote operation of multiple servers at the same time. The term telecom cloud refers to the data center resources required by operators to build and manage mobile phone networks with data transfer capabilities in large-scale production.
The Global Telecom Cloud Market Dynamics:
The global telecom cloud market growth has been driven by varied factors such as IT modernization that implicates the complete utilization of public cloud services to support cost savings and evolutions in a well-established modern IT environment. Owing to the rapid advancements in technologies and technology standards in broadband cellular networks, various companies are collaborating to render a good and innovative way of lifestyle and work. For instance, in July 2019, AT&T Communications along with Microsoft Corp. announced their substantial, multi-year extended alliance to allow both the companies to apply technologies such as Artificial Intelligence (AI), 5G, and cloud for the betterment of on-going lifestyle and work-based on technology.
Factors such as high reliability and security for mission-critical business applications are expected to propel the telecom cloud market share further in the forecast period. A mission-critical application is referred to the software program or a combination of related programs which are meant to function on a continuous manner to make a business or a segment of business successful. Regulation and security are critical issues for cloud servers as the cloud server hosts’ customers who are either competitors or are concerned regarding the regulations that needs periodical IT audits. Enterprise scheduling software needs to secure access to rules for customers, applications, or roles to reduce the burden on IT to keep new customers safe and secure.
The Global Telecom Cloud Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the telecom cloud market are:
Based on the end-user industry, the Banking, Financial Services and Insurance (BFSI) segment is accounted for largest market share in the overall telecom cloud market size in the forecast period, owing to demand for technological advancement for banking education, staff training, etc.
Based on the end-user industry, the BFSI segment is accounted to dominate the telecom cloud market throughout the forecast period. The growth is majorly attributed to the lucrative opportunities provided by BFSI sector for the activities such as customer communications, staff training, and banking education. The BFSI sector are majorly dedicated to reducing non-core activities cost by outsourcing the activities. This process necessitates the requirement for channelled content and accurate banking information that can be integrated using telecom cloud solutions. For instance, in August 2021, the Times of India, stated that the financial sectors are increasingly shifting towards the industry cloud as BFSI sector is looking for a one stop solution such as a specialized open hybrid 'Industry Cloud' which will provide with resiliency, security and compliance, deliver frictionless customer experience, and drive innovation while accelerating business growth.
Based on regions, the market for telecom cloud in North America accounted for the largest share in 2020
Geographically, North America is estimated to hold the largest market share in the forecast period. The growth is attributed to the factors such as, presence of technologically well establish infrastructure which is further leading to the rapid adoption of the latest and efficient technological advancements in core industries such as manufacturing, telecommunication, mining, etc. The telecom cloud market here is growing at a significant pace owing to a huge presence of large enterprises and the presence of a large technically skilled workforce. Such factors influence the telecom cloud market in the region and are accounted for the rapid developments in this sector.
The report also provides an in-depth analysis of telecom cloud market dynamics such as drivers, restraints opportunities and challenges
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report. Get a Sample Copy of the Report
COVID-19 Impact on the Telecom Cloud Market Analysis
The impact of COVID-19 has been both negative and positive to the telecom cloud market. The COVID 19 has a huge impact on each segment of society, which includes individuals, and large and small businesses. For a long time, SMEs have played a central role in the economy. In the current situation, SMEs are most affected by the COVID19 pandemic. However, the telecom cloud has significantly played a crucial role in supporting digital infra for all around the world. The telecom cloud market is in a period of transformation, adjusting itself to new technologies and cloud patterns. Currently, with the rise of telecommuters, the acquisition of educational resources for home-schooling or streaming video entertainment is increasing. Given this, of course the telecom cloud market is seeing a surge in voice, data, and broadband services.
The report also provides an in-depth analysis of key trends in the telecom cloud market
|1||The demand for 5G networks as the world moves into the COVID-19 pandemic is expected to increase significantly in the forecast period. According to Ericsson Mobility Report, the increased usage of the internet is experienced owing to working from home and homeschooling||Positive|
|2||The rising trend for hybrid cloud in the telecom cloud market is observed in recent years owing to increasing benefits. For instance, in November 2020, IBM published a report on how the new hybrid cloud satellite services can benefit modernizing the present infra for the telecom cloud sector||Positive|
The report also provides an in-depth analysis of recent news developments and investments
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