Call Accounting Featured Article

Telecom Market to be Worth $1.6 Billion by 2022

  By Mandi Nowitz, Web Editor

A new report by MarketsandMarkets "Policy Management in Telecom Market by Network (Fixed, Wireless), Component (Solutions, Services), Services (Professional, Managed), Deployment (Cloud, On-Premises), and Region - Global Forecast to 2022," highlights extreme growth in the telecom market in the not-too-distant future.

It is estimated that between 2017 and 2022, the CAGR (compound annual growth rate) will go up 11 percent. In terms of financials, the market is currently at $953.6 million and is said to be at $1.6 billion by 2022. Policy Management has been divided into two fragments: solutions and services. Through this division, the calculations can be better determined.

So, why the dramatic rise?

It appears that strict telecom regulations, continual subscriber growth, overcoming data traffic barriers, and setting policies while charging rules, are the game changer. Because of deployment, the cloud segment is head for a major growth spurt, as well. Low maintenance costs, scalability, low hardware, and easy setup all lend itself to said spurt.

The adoption of cloud-based structures by many organizations has only helped with the forecasting. But it is the Asia Pacific market that will see the highest in increases. “Countries such as India, China, Russia, Australia, and Japan are expected to witness high growth rates in Policy Management in Telecom Market,” according to the findings. This is all based on the fact that mobile devices are becoming a prominent tool overseas.  

Such companies that will be helping enhance overseas mobility are Ericsson, Huawei, Nokia, Oracle, Amdocs, Netcracker Technology, CSG International, ZTE (News - Alert), Cisco, Redknee, and Openet. It looks like mobility and the cloud will be the keys to boosting telecom financials, now and for the foreseeable future.

Do you believe these predictions? Or expect higher?