Pune, India, Feb. 03, 2022 (GLOBE NEWSWIRE) -- The global Telecom Cloud Market size is expected to experience substantial growth during the forecast period. The growth is attributable to the increasing number of smartphone users and the surging demand for innovative OTT platforms that propel the demand for advanced telecom cloud services by the telecom service providers worldwide. This information is published by Fortune Business Insights, in its upcoming report, titled, “Telecom Cloud Market size, share & industry analysis, By Component (Solution, Services), By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), By Service Model (Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS)), By Industry (Government, Banking, Financial Services, and Insurance (BFSI), Retail, Healthcare, Education) and Regional Forecast 2022-2029.
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Companies Profiled in the Global Market for Telecom Cloud:
- Verizon Communications Inc.
- CenturyLink
- British Telecommunication PLC (BT)
- Telefonaktiebolaget LM Ericsson
- Nokia Corporation
- ZTE Corporation
- NTT Communications Corporation
- Singapore Telecommunications Ltd
- VMware, Inc.
- Orange Business Services
COVID-19 Impact –
The global pandemic, COVID-19, has resulted in several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies globally, several manufacturing facilities have been at a standstill with limited operational activities. However, a collective effort from the government and the industries to bring the economy back is expected to boost the market growth during the forecast period.
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The telecom cloud is generally a data center resource that efficiently deploys and manages a mobile phone network. It also aids in hosting Virtual Network Functions (VNFs) of a network by utilizing several NFV techniques.
What does the Report Include?
The market report includes a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis to obtain information about the current trends and industry developments that will drive the market growth during the forecast period.
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DRIVING FACTORS
Increasing Number of Smartphone Users to Accelerate Growth
According to the data by Ericsson, the number of smartphone users across the globe is estimated to reach 3.5 billion, an overall 9.3% increase compared to 2019. The surging number of smartphone users is driving telecom operators to provide advanced data solutions, leading to innovative telecom cloud solutions. Additionally, this has enabled service providers to lower costs when hosting software services and to allocate computing resources.
The growing adoption of the OTT platform is another factor that is likely to boost the global telecom cloud market growth during the forecast period. For instance, the cloud platform allows the OTT providers to efficiently migrate, copy, and regenerate content to cater to the growing consumer demand globally.
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REGIONAL INSIGHTS
North America to Remain Dominant; Increasing Spending on Development of IT Infrastructure to Aid Growth
Among all the regions, North America is expected to maintain its dominance by holding the highest position in the global telecom cloud market during the forecast period. This dominance is attributable to the increased spending by the companies on developing advanced IT infrastructure that will boost the adoption of efficient telecom cloud solutions in the region between 2020 and 2027.
The market in Europe is expected to showcase considerable growth backed by the increasing focus on deploying 5G to expedite network services. Additionally, the rising investments by key players to develop advanced network solutions that will contribute to the demand for innovative telecom cloud solutions in the region.
COMPETITIVE LANDSCAPE:
Partnership between Prominent Companies to Deliver Advanced Telecom Cloud Services
The global telecom cloud market is consolidated by major companies focusing on maintaining a stronghold by partnering with other companies to develop and introduce advanced telecom cloud solutions. Moreover, other key players strive to maintain their presence by adopting strategies such as collaboration, merger and acquisition, and facility expansion that will favor the market growth.
Industry Development:
- April 2020 - British Telecommunication PLC (BT) announced its partnership with Ericsson to deploy dual-mode 5G Core solutions. Ericsson's 5G Core solutions are primarily cloud-native mobile packet core for 4G and 5G stand-alone and non-standalone services.
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