Telecom Cloud Market
The Telecom Cloud Market is projected to expand at robust CAGR of 19% over the forecast period (2021-2028).
The factors driving the growth of Telecom Cloud Market includes increasing number of internet mobile subscriptions, consumers changing preference for cloud computing services over land line services and growing demand for information infrastructure services. As per the report published by Mint, the mobile subscribers in India have increased to 765 million and revenue from 5G Services is expected to reach USD 9 billion by 2026, which will boost the demand for Telecom Cloud Services in India in the coming few years. Moreover, Telecom services reduces the operational cost, growing adoption of virtual platforms, technological advancements in cloud computing and increasing demand for unified communication solutions, are some of the additional factors, augmenting the growth of Telecom Cloud Market. In addition, the growing adoption of Business Intelligence tools by big Enterprises and increasing volumes of data generated around the world, are supplementing the Telecom Cloud Market Size.
However, the growth of Telecom Cloud Market is hindered due to increasing numbers of cyber-attacks, as per Check Point Research, over 50% of the business are experiencing cyber-attacks every week in 2021, as compared to 2020.
The major players operating in the market includes Nippon Telegraph and Telephone Corporation, Telefonica S.A, ATT Intellectual Property., BT, Verizon, Microsoft, Emirate Tele Group Company PJSC, Google, Vodafone Group and AWS among others.
Components – Segment Analysis
As per Telecom Cloud Market Report, the Solution segment is expected to grow at a significant CAGR during the forecast period the growing adoption of smartphones, rising numbers of internet subscribers and increasing demand to improve operational efficiency, are some of the key factors accelerating the growth of the segment.
Industry Vertical – Segment Analysis
Based on Industry Vertical, the BFSI segment is predicted to capture a sizeable market share over the forecast period attributed to growing adoption of cloud telecom services for staff training and improving the customer experience.
Regional – Segment Analysis:
According to Telecom Cloud Market Forecast, the North American region is projected to grow at the highest rate during the forecast period. The increasing number of smartphone devices, growing demand for browser-based communication solutions, high per-capita income, and rising investments by private players in 5G Services, are some of the factors responsible for the growth of Telecom Cloud Market in North America.
Global Telecom Cloud Market by Components
Global Telecom Cloud Market by Industry Vertical
- Healthcare and Life sciences
- Transportation and Distribution
- Government and Public Sector
- Retail and Consumer Goods
- Media and Entertainment
Global Telecom Cloud Market by Applications
- Enterprise Application
- Data Storage
Global Telecom Cloud Market by Service
Global Telecom Cloud Market by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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