Global Telecoms Cloud Market Forecast: Growth at an Impressive CAGR of 21.4% Between 2021 and 2026
DUBLIN, June 23, 2021 /PRNewswire/ -- The "Telecom Cloud Market by Type (Public, Private, and Hybrid), Service (Colocation, Network, and Management Services), Application, Cloud Computing Service (SaaS, PaaS, and IaaS), Organization Size, End User, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global telecom cloud market size is expected 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.
Data stored on a public cloud platform is generally regarded as safe from most hazards. It helps organizations meet their demands for scalability and also provides a pay-per-usage pricing strategy and ease of deployment.
The public cloud is typically designed with built-in redundancies to prevent data loss. Service providers may store replicated files across several data centers to ensure that disaster recovery is smooth and fast.
Management Service segment is expected to grow at the highest CAGR during the forecast period
The management service segment is expected to grow at a higher CAGR with telecom cloud solution vendors enabling organizations to centralize, manage, and deliver information in a secure way. Data is increasingly seen as a corporate asset that can be used to make more informed business decisions, improved marketing campaigns, optimized business operations, and reduced costs, all with the goal of increasing revenues and profits. Management services are helping end users, such as retail, healthcare industries, and financials firms, by making them more operationally efficient and utilizing their data for better decision making via artificial intelligence and analytics.
Banking, financial services and insurance vertical is expected to have a larger 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 solutions. The collaborations enable banking and financial service providers to offer enhanced facilities by providing them with improved communication otions. The solution enables face-to-face interactions between customer 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.
Asia Pacific (APAC) region to record the highest growing region in the telecom cloud market
APAC has several growing economies, such as China, Australia, India, and Japan, which are expected to register high growth in the telecom cloud market. These countries have always supported and promoted industrial and technological growth. In addition, they possess a developed technological infrastructure, which is promoting the adoption of Telecom cloud solutions across all industry verticals. APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.
This research study outlines the market potential, market dynamics, and major vendors operating in the Telecom cloud market. Key and innovative vendors in telecom cloud market are such as 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 market study covers the telecom cloud market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, service, application, cloud computing services, organisation size, end-users with regions covered. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall telecom cloud market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Telecom Cloud Market, by Type
7 Telecom Cloud Market, by Service
8 Telecom Cloud Market, by Application
9 Telecom Cloud Market, by Cloud Computing Service
10 Telecom Cloud Market, by Organization Size
11 Telecom Cloud Market, by End-user
12 Telecom Cloud Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Adjacent/Related Market
For more information about this report visit https://www.researchandmarkets.com/r/1e923g
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