Rising Application in Various Industries to Propel the Growth of Telecom Cloud Market Globally

The global telecom cloud market is fragmented due to the presence of numerous small and big players in the market, as observed by Transparency Market Research. Several small and large-scale enterprises are investing in telecom cloud solutions and services as the market is possess huge potential to grow in the near future. Moreover, professional service providers and system solutions developers and integrators across industries are establishing themselves firmly in the telecom cloud market. Players are also putting efforts in research and development activities and working in product innovation to expand their market reach. Among the numerous players in the market, the report has mentioned some of the leading players such as Telus Corporation, AT & T Inc., Deutsche Telekom AG, China Telecommunications Corporation, Vodafone Group Plc., and Verizon Communication Inc.

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According to TMR, the global telecom cloud market is projected to expand at healthy CAGR of 18.2% during the forecast period between 2018 and 2026. The global telecom cloud market was worth US$12.63 bn in 2017 and is estimated to reach US$55.29 bn by the end of 2026.

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On the basis of cloud platform, the software as a service (SaaS) segment held major share in the market in 2017. Business continuity as a service (BCaaS) held the second position in the market. According to the report, over the forecast period infrastructure as a service (IaaS) is expected to expand rapidly. The rapid expansion of IaaS is because it helps in management and monitoring of remote data center infrastructure. Based on geography, North America held dominant share in market in 2017. Over the forecast period, the region is projected to rise at 18.1% of CAGR. In terms of revenue, the U.S. held the dominant share in the telecom cloud market in North America. However, in the forthcoming years, South America and Asia Pacific is expected to expand significantly.

In terms of industry vertical, the global telecom cloud market is categorized into banking, financial services, and insurance (BFSI), retail, healthcare, media & entertainment, transportation, and others. Others segment includes government, education, and public sector. The BFSI sector is the prominent user of telecom cloud systems, while the transportation sector is projected to expand at a rapid pace over the forecast period. Telecom industry in the transportation sector generates huge amounts of data every day for which it needs considerable data management and storage provisioning. Thus, usage of telecom cloud systems in this sector is evolving at a significant rate.

The market in North America is anticipated to contribute significantly to revenue in the near future due to a large base of existing usersin the region. The market in Europe and South America is anticipated to follow a similar trend between 2018 and 2026. Furthermore, the market in Middle East & Africa is likely to expand at a robust CAGR in the coming years.

Attracted by the progressively expanding telecom cloud market and underlying embryonic demand, many small and large scale enterprises are driven to invest in telecom cloud solutions and services. System solutions developers and integrators and professional service providers across industries are strengthening their position in the telecom cloud market. Product innovation and upgrade of research and development are constantly taking place in the telecom market. For instance, in September 2017, Deutsche Telekom AG, Facebook, and the Telecom Infra Project announced the acceleration of innovation in telecom infrastructure in order to deliver the best network services to customers.

Researcher Tech Trends Up To Date. Market research is an important component of modern business strategy; the process of systematic gathering