New York, US, July 13, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Telecom Service Assurance Market information by Deployment, by Components, by Operator Type and Region – forecast to 2027” the market is expected to expand at a 9.3% CAGR, with USD 9.32 billion in 2025.
Dominant Key Players on Telecom Service Assurance Market Covered Are:
- Huawei Technologies Co. Ltd (China)
- Hewlett Packard Enterprise Development LP (US)
- Accenture (Ireland)
- Comarch SA (Poland)
- IBM (US)
- VMware (US)
- TEOCO Corporation (US)
- Nokia (Finland)
- NETSCOUT Systems Inc. (US)
- Anritsu (Japan)
- Centina Systems (US)
- Enghouse Networks (US)
- Infovista (US)
- NEC Corporation (Japan)
- MYCOM OSI (US)
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Market USP exclusively encompassed:
Telecom Service Assurance Market Drivers
Increasing Cellular/ Mobile Subscribers
The growing number of mobile subscribers is driving the telecom service assurance market. According to the GSMA, the Mobile Economy 2019 report, there were around 5.1 billion unique mobile subscribers in 2018, with smartphones accounting for 60% of the connections, and the number is predicted to reach approximately 6 billion in 2025, with smartphones accounting for an 80% share. The increased use of smartphones results in a massive increase in wireless data traffic, necessitating the need for telecom service assurance solutions to handle this expanding traffic volume. Telecom service assurance solutions improve network optimization while also providing a superior customer experience. To address the needs of the expanding number of subscribers, telecom companies have invested substantially in telecom service assurance solutions.
Issues Over Data Privacy
The necessity to protect data privacy is becoming more complicated as the telecom industry's user base grows. Concerns about data and payment security are growing in the telecom business as the volume of data generated and online transactions performed grows. Many value-added services available on smartphones and tablets rely on data services and, in certain situations, require additional information such as name, date of birth, email ID, and financial information. It is necessary for the consumer to disclose their financial information in order to receive various value-added services. Customers are concerned about the security and privacy of their payment information and other personal information for these reasons. Such vital and confidential information as transactions and personal details cannot be jeopardized and must be safeguarded with complete data integrity. This necessitates the use of an efficient and controllable cloud environment in order to maximize production and safeguard the safety of CSPs and their customers. CSPs and network operators take precautionary measures to protect each customer's data, and telecom service assurance solutions assist CSPs in acquiring a unified view of the customer across channels and developing a trustworthy understanding of the customer. However, privacy can be jeopardized when unethical elements intrude. Customers are hesitant to give personal information for these reasons, stifling the overall growth of the telecom service assurance market.
Browse In-depth Market Research Report (141 Pages) on Telecom Service Assurance:
https://www.marketresearchfuture.com/reports/telecom-service-assurance-market-8719
Segmentation of Market Covered in the Research:
By Deployment, Cloud-Based Telecom Service to Lead the Market
During the forecast period, cloud-based telecom service assurance solutions are expected to grow at a faster rate. Telecommunications companies are increasingly embracing cloud-based solutions since they minimize the overall cost of maintaining and upgrading the solution.
Telecom Service Assurance Market Regional Analysis
North America to Dominate the Global Market
The North American telecom service assurance market is the largest in the world. The increasing deployment of such solutions by leading telecom operators in the region, such as Verizon and Frontier Communications, is one of the reasons driving market expansion. Furthermore, the presence of a number of telecom service assurance businesses providing comprehensive solutions to CSPs boosts the North American telecom service assurance market even further.
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Industry News
In June 2020, Ericsson launched its new Ericsson Radio Access Network (RAN) compute baseband, increasing mobile network capacity and efficiency. The solution would provide up to three times the capacity of present Ericsson basebands while maintaining industry-leading energy efficiency.
In June 2020, in response to the COVID-19 pandemic for global education and learning, Ericsson had officially joined the UNESCO-led Global Education Coalition. Ericsson Educate is a digital platform that delivers online learning content aimed at increasing digital skills to students in secondary schools and universities.
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COVID-19 Impact on the Global Telecom Service Assurance Market
The telecom industry is feeling the effects of the COVID-19 outbreak. Due to the worldwide lockdown, fixed broadband networks have taken up the lion's share of the responsibility for keeping the world connected. Working from home (video conferencing, collaboration, and VPNs), learning from home (video conferencing and collaboration, and e-learning platforms), and entertainment all contributed to a 30-40% increase in network traffic overnight (online gaming, video streaming, and social media). Telcos are encountering issues as a result of a labor shortage and a drop in currency exchange rates. Comarch, for example, saw a minus PLN 8,881 thousand exchange rate on March 31, 2020, compared to a plus PLN 7,662 thousand rates on December 31, 2019. This was due to the PLN's considerable depreciation versus major foreign currencies following the COVID-19 pandemic. Currency depreciation will have an impact on telecom service providers' revenues.
The COVID-19 outbreak has had a significant influence on economies and communities in a relatively short period of time. With offices, educational institutions, and manufacturing facilities closing indefinitely, important sports and events being rescheduled, and work-from-home and social distance policies in place, businesses are increasingly seeking solutions to help them get through these difficult times. Analytics professionals, business intelligence professionals, and experts in more advanced analytics such as AI and ML have been called in to assist Executives in making business decisions about how to deal with the new business problems posed by the COVID-19 outbreak.
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