PUBLISHER: The Business Research Company | PRODUCT CODE: 1392933
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392933
“Telecom Cloud Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on telecom cloud market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for telecom cloud? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The telecom cloud market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The telecom cloud denotes a software-defined, highly resilient cloud architecture that empowers telecommunications companies to swiftly launch services, respond promptly to changes in demand, and efficiently manage resources centrally.
The primary types of telecom cloud encompass the public cloud, private cloud, and hybrid cloud. The hybrid cloud is a comprehensive computing, storage, and services system that integrates on-premises infrastructure with private and public cloud services. The cloud services offered within these categories include Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). Small and medium enterprises (SMEs) as well as large enterprises adopt telecom cloud for various applications, including data storage, computing, achieving, enterprise applications, and more. The end-user sectors utilizing telecom cloud services span BFSI, retail, manufacturing, transportation and distribution, healthcare, government, media and entertainment, and other industries.
The telecom cloud market research report is one of a series of new reports from The Business Research Company that provides telecom cloud market statistics, including Telecom cloud industry global market size, regional shares, competitors with a telecom cloud market share, detailed telecom cloud market segments, market trends and opportunities, and any further data you may need to thrive in the telecom cloud industry. This telecom cloud market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 observed in the historical period can be attributed to several factors, including the adoption of hybrid and multi-cloud deployments, the emergence of cloud-native architectures, early acceptance of NFV (Network Function Virtualization), compliance with regulatory standards, and advancements in the integration of artificial intelligence (AI) and machine learning.
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 anticipated growth in the forecast period can be attributed to the adoption of customer-centric solutions, heightened security measures, the continued expansion of cloud-native architectures, a growing demand for edge computing, and an increased automation of network processes. Noteworthy trends expected during this period encompass a heightened focus on customer experience, the deployment of 5G networks, the integration of edge computing, the implementation of Open RAN (Radio Access Network), and the utilization of network slicing for the provision of customized services.
The surge in demand for telecommuting (WFH) methods stands as a significant driver for the telecom cloud market. The adoption of work-from-home practices became widespread due to the COVID-19 pandemic, forcing organizations to close offices for an extended period. The telecom cloud enables the deployment of workers beyond the conventional office setting. As reported by Forbes in June 2023, 12. 7% of full-time employees are working remotely, and 28. 2% follow a hybrid model. The trend is expected to continue, with an estimated 32. 6 million Americans working remotely by 2025, leading to increased demand for telecom cloud solutions and services.
The rapid rollout of 5G networks is anticipated to fuel the growth of the telecom cloud market. 5G, the fifth generation of wireless technology, offers higher data speeds and lower latency, making it suitable for data-intensive applications. The increasing adoption of 5G will result in a surge in data traffic, necessitating telecom operators to enhance network capacity and capabilities. According to Telefonaktiebolaget LM Ericsson in May 2023, the global deployment of 5G networks is underway, with around 240 networks, and it is projected to increase by approximately 85% by 2028. Additionally, 5G wireless connections rose by 76% to 1. 05 billion in 2022, expected to reach 1. 9 billion by the end of 2023 and 5. 9 billion by 2027, as per 5G Americas in April 2023.
Technological innovations and advancements are emerging as a key trend in the telecom cloud market. Many companies in this sector are developing technologically advanced solutions with enhanced features. Artificial intelligence-powered automation is a notable advancement, enabling communication service providers to automate self-diagnostics and problem identification. For example, in 2021, IBM launched Cloud Pak for Network Automation, an AI-driven telco cloud platform facilitating network operations automation for CSPs, allowing them to modernize networks, transition to zero-touch operations, reduce OPEX, and deliver services more efficiently.
Major companies in the telecom cloud market are expanding their operations through strategic partnerships. This approach involves leveraging each other's strengths and resources for mutual benefits. In July 2022, Deutsche Telekom and Google Cloud formed a partnership to create a roadmap for the telecommunications industry. This collaboration aims to bring cloud capabilities to the edge of Deutsche Telekom's network, closer to mobile and connected devices.
In May 2021, Google Cloud acquired MobiledgeX to assist telecom operators in building edge clouds and help developers add value to telecommunication services. MobiledgeX is a US-based edge computing company.
Major companies operating in the in the telecom cloud market report are AT&T Inc., BT Group PLC, Verizon Communications Inc., Vodafone Group PLC, China Telecommunications Corporation, Amazon Web Services Inc. (AWS), Microsoft Corporation, International Business Machines Corporation (IBM), VMware Inc., Telefonaktiebolaget LM Ericsson, Nokia Corporation, Cisco Systems Inc., Red Hat Inc., Mavenir Systems Inc., Huawei Technologies Co. Ltd., Google LLC, Oracle Corporation, Deutsche Telekom AG, China Mobile Communications Corporation, China Unicom (Hong Kong) Limited, Orange S. A., NTT Communications Corporation, SoftBank Group Corp., Singapore Telecommunications Limited (Singtel), Telstra Corporation Limited, CenturyLink Inc., Colt Technology Services Group Limited, Tata Communications Limited, Zayo Group Holdings Inc., Windstream Holdings Inc.
North America was the largest region in the telecom market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telecom cloud market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the telecom cloud market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The telecom cloud market includes revenues earned by entities providing engineering infrastructure sustainability talent cloud, infrastructure management services, intelligent engineering automation, intelligent process automation, knowledge process outsourcing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.