Telecom Cloud Market to Hit $103.6 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, Oct. 6, 2022 /PRNewswire/ -- The global telecom cloud market size is expected to reach USD 103.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 19.9% from 2022 to 2030. A telecom cloud is a next-generation network architecture that integrates cloud-native technologies, network function virtualization, and software-defined networking into a distributed computing network. Orchestration and automation are essential since the computing and network resources are scattered across clouds and locations.
Read 120-page full market research report, "Telecom Cloud Market Size, Share & Trends Analysis Report By Component (Solution, Services), By Deployment Type, By Service Model, By Application, By Enterprise Size, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Telecom Cloud Market Growth & Trends
Telco Cloud refers to shifting communications service providers (CSPs) from vertically integrating proprietary hardware-based infrastructure networks to cloud-based technologies. It is mainly used in the telecom business to refer to multi-cloud computing. The propelling drivers of the telecom industry are increased customer satisfaction, corporate agility, cost savings, and others. Also, the usage of standard computational hardware and automation reduces CapEx and OpEx resulting in increased adoption of telco cloud in the telecommunication industry.
It also delivers innovative bespoke B2B solutions, such as telcos may bring highly custoized corporate products to market rapidly and affordably. Telco cloud makes it simple to collaborate with business service partners by providing access to public cloud services from any device, at any time. Additionally, it protects your consumers and profits from competitors; for instance, the telco cloud enables operators to swiftly alter business models to test new goods, services, and pricing schemes.
It also makes setting up new consumer experiences and communication channels easier. Furthermore, the lower CapEX and OPEX needs of telco cloud, better service resilience, and capacity to respond swiftly to faults and demand changes allow operators to maintain service levels and competitive pricing. These advantages result in lower client attrition.
The top trends in the telecom cloud industry are hybrid cloud hosting, Cloud Native Network Functions (CNNF), and telecom cloud collaboration. A hybrid cloud merges private and public clouds where the software and data are interoperable and portable. It allows telcos to optimize the operations with various patterns to manage workload. It improves resource allocation, optimizes infrastructure spending, provides enhanced organizational agility, and offers the ability to scale using the public cloud and controls available in the private cloud deployment.
Also, in the case of CNNF, Software-defined networking is replaced by NFV (Network Functions Virtualization), which provides more independence from proprietary servers and hardware. It provides a cloud-native architecture that combines VNFs and CNFs while adopting 5G features. This will provide maximum market coverage to telecom businesses looking to expand their services. Moreover, telecom cloud collaboration includes partnerships between hyperscalers and telcos which constitute a major cloud computing trend transforming the business.
Cloud service providers and telecom enterprises join forces to expand edge computing collaboration and 5G. Telecom cloud service providers are increasing their connectivity with the help of technology advancement to gain a competitive edge over their peers and capture a significant market share.
Telecom Cloud Market Segmentation
Grand View Research has segmented the global telecom cloud market based on component, deployment type, service model, application, enterprise size, and region:
Telecom Cloud Market - Component Outlook (Revenue, USD Billion, 2017 - 2030)
Telecom Cloud Market - Deployment Type Outlook (Revenue, USD Billion, 2017 - 2030)
Telecom Cloud Market - Service Model Outlook (Revenue, USD Billion, 2017 - 2030)
Telecom Cloud Market - Application Outlook (Revenue, USD Billion, 2017 - 2030)
Telecom Cloud Market - Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)
Telecom Cloud Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)
List of Key Players of Telecom Cloud Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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