The Telecom Cloud by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Telecom Cloud , The telecom cloud market size has grown rapidly in recent years. It will grow from $39.1 billion in 2023 to $45.66 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to hybrid and multi-cloud deployments, emergence of cloud-native architectures, early adoption of nfv (network function virtualization), adaptation to regulatory compliance, advancements in ai and machine learning integration.
The telecom cloud market size is expected to see rapid growth in the next few years. It will grow to $90.6 billion in 2028 at a compound annual growth rate (CAGR) of 18.7%. The growth in the forecast period can be attributed to customer-centric solutions, enhanced security measures, expansion of cloud-native architectures, rising demand for edge computing, increased automation of network processes.. Major trends in the forecast period include focus on customer experience, 5g network deployment, edge computing integration, open ran (radio access network), network slicing for customized services.
The increase in demand for work-from-home (WFH) mechanisms is a significant driving factor for the telecom cloud market. The COVID-19 pandemic has led to the adoption of work-from-home mechanism. Due to the lockdown, organizations had to close their offices for a long time, leading people to work from home. The telecom cloud makes it possible to deploy workers outside the traditional office environment. For instance, in June 2023, according to a report issued by Forbes, a US-based business magazine and media company, as of 2023, 12.7% of full-time employees work from home, while 28.2% work in a hybrid model. By 2025, 32.6 million Americans will work remotely. Thus, increase in the adoption of work from home is expected to lead to an increase in demand for telecom cloud solutions and services market growth.
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The telecom cloud market covered in this report is segmented –
1) By Type: Public Cloud, Private Cloud, Hybrid Cloud
2) By Computing Service: Infrastructure As A Service (IaaS), Platform As A Service (PaaS), Software As A Service (SaaS)
3) By Organization Size: SMEs, Large Enterprise
4) By Application: Data Storage, Achieving, Computing, Enterprise Application, Other Applications
5) By End users: BFSI, Retail, Manufacturing, Transportation and Distribution, Healthcare, Government, Media and Entertainment, Other End Users
Technology innovations and advancements is a key trend gaining popularity in the telecom cloud market. Many companies operating in the telecom cloud are developing technologically advanced solutions with improved features. Artificial Intelligence-powered automation is one such advancement in this market. Leading communication service providers (CSP) are utilizing or intend to employ artificial intelligence (AI) to automate self-diagnostics and problem identification. For instance, in 2021, IBM, launched Cloud Pak for Network Automation, a telco cloud platform driven by AI that allows network operations automation, allowing CSPs to modernize their networks, transition to zero-touch operations, save OPEX, and provide services quicker.
The telecom cloud market report table of contents includes:
1. Executive Summary
2. Telecom Cloud Market Characteristics
3. Telecom Cloud Market Trends And Strategies
4. Telecom Cloud Market – Macro Economic Scenario
5. Global Telecom Cloud Market Size and Growth
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26. South America Telecom Cloud Market
27. Brazil Telecom Cloud Market
28. Middle East Telecom Cloud Market
29. Africa Telecom Cloud Market
30. Telecom Cloud Market Competitive Landscape And Company Profiles
Top Major Players:
- AT&T Inc
- BT Group PLC
- Verizon Communications Inc
- Vodafone Group PLC
- China Telecommunications Corporation
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