MarketsandMarkets forecasts the global Telecom Cloud Market size to grow from USD 19.8 Billion in 2021 to USD 52.3 Billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.4% during the forecast period. The presence of various key players in the ecosystem has led to a competitive and diverse market. Technology represents huge opportunities for enterprises enabling remote working in businesses. However, on the other hand, there are significant growth opportunities for Telecom cloud vendors. The reduced Capex and Opex, the importance of accesing the data from anywhere anytime, and the rising need for a virtual environment have overall increased the spending of companies on telecom cloud solutions.
Colocation service segment is expected to grow at the highest CAGR during the forecast period
The colocation service segment is expected to hold the larger market size with telecom cloud solution vendors enabling organizations to centralize, manage, and deliver information in a secure way. The services help manage all the activities by using the infrastructure-as-a-service, platform-as-a-service, and software-as-a-service and also helps in the storage of a large amount of data. Resource pooling, on-demand service, easy maintenance, large network access, availability, automatic system, security, pay-as-you-go, and measured service are the key features of the telecom cloud. These services provide benefits, which include low latency, lower downtime, and faster transcoding speed for end users.
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Banking, financial services and insurance vertical is expected to have a larger market size during the forecast period
The banking, financial services and insurance vertical deals with the need to reduce non-core functions and has started outsourcing them. Outsourcing helps banks minimize costs and maximize efficiency. This results in the requirement for channelized content insights and accurate banking information that can be consolidated through telecom cloud Solution. The collaborations enable banking and financial service providers to offer enhanced facilities by providing them with improved communication options. The solution enables face-to-face interactions between customers and employees to discuss various banking options, located anywhere in the world. Telecom cloud technology also helps with customer experience enhancement. Currently, the telecom cloud market is witnessing increased growth opportunities in the banking, financial services, and insurance vertical. This growth can be attributed to the increasing requirement for telecom cloud to enhance staff training, banking education, and customer communication.
The key and emerging market players in the telecom cloud market include AT&T Inc. (AT&T), BT Group PLC (BT Group), Verizon Communications Inc. (Verizon), Vodafone Group PLC (Vodafone), China Telecom, Lumen Technologies Inc. (Lumen), Singapore Telecommunications Ltd. (Singapore Telecommunications), Nippon Telegraph and Telephone Corporation (NTT), Orange Business Services, Telefonica S.A (Telefonica), Deutsche Telekom A.G (Deutsche Telekom), Telstra Corporation Limited (Telstra), SK Telecom Co. Ltd (SK Telecom), Saudi Telecom Company (STC), Rogers Communications Inc.(Rogers), and Emirate Tele Group Company PJSC (Etisalat).
The cloud partners considered in the study includes Amazon Web Services Inc. (Aws), Microsoft Corporation (Microsoft), International Business Machines Corporation (IBM), Oracle Corporation (Oracle), Alphabet Inc. (Google), Alibaba Group (Alibaba Cloud), Dell and Red Hat Inc. (Red Hat) in the study.
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This research report also studies the strategic alliancesand lucrative acquisitions among various global and local players in the telecom cloud ecosystem. These players have adopted various strategies to grow in the global telecom cloud market.
AT&T Inc. is a pioneer in the telecom cloud market. The company primarily focuses on enterprise business services, such as mobility services, cloud services, network services, and cybersecurity services in the telecom cloud landscape. The company provides solutions and services based on the specific needs of end users that enable customers to lower IT infrastructure costs.
The telecom cloud offerings for enterprises are designed in a way to provide best-in-class technology at low operational expenditure (OPEX) and capital expenditure (CAPEX). The company has expanded its product offerings with the help of technological developments and collaborations, and it is expected to do so in the coming years as well.
Verizon is an eminent player in the telecom cloud market. The company is currently focusing on serving its customers, enterprises & government agencies with communications, information, and entertainment products and services in the cloud, mobile, networking & internet, business communications, and security segment to sustain in the competition.
NTT offers a wide range of innovative global ICT solutions, including cloud, network, and security services, helping its customers to work quickly, strengthen their competitiveness, enter new markets, and develop new businesses. The company operates in more than 200 countries worldwide and offers highly reliable enterprise network services comprising VPN services, Hybrid WAN, internet, and cloud connectivity. Its global network is optimized for cloud by utilizing NFV and SDN technologies. It also provides cloud-based communication and collaboration solutions and services
Microsoft provides telecom cloud Solution such as Microsoft Azure and Sphere for Business. These products integrate seamlessly with other Microsoft tools, via Office 365. They help organizations effortlessly synchronizing their workflows from different devices and locations. Microsoft Azure is an online cloud platform with telecom cloud capabilities, which provides the customers with rich experience with low latency and edge compute capabilities. The product has established itself as one of the most used cloud computing tools. Microsoft azure growth is more comparatively to the sphere for business due to continuous solution enhancements, ease of usage, and accessibility
Microsoft focuses on Y-o-Y growth with organic and inorganic growth strategies. For instance, in Sept 2020, Microsoft and Telstra have extended their long-standing strategic partnership to develop Internet of Things (IoT), Edge, artificial intelligence (AI) and digital twin technologies with Microsoft Azure and Telstra’s network. In the same year, Microsoft Azure with AI capabilities are introduced by expanding Microsoft Azure solutions into Etisalat’s network, and its new technologies like Multi-access Edge Computing (MEC) and Network Edge Computing (NEC).
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