Wilmington, DE, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, "B2B Telecommunication Market by Enterprise Size (Large Enterprises and SMEs), Solution (Cloud Services, Unified Communication & Collaboration, VoIP, WAN and M2M Communication), and Industry Vertical (BFSI, IT & Telecom, Media & Entertainment, Healthcare, Government, Retail & ECommerce and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030". According to the report, the global B2B telecommunication market is estimated to reach $181.35 billion by 2030. The market was valued at $46.36 billion in 2020 and is forecasted to grow at a CAGR of 14.8% during the 2021-2030 period.
Primary growth determinants of the industry
The growth of the global B2B telecommunication market is attributed to growing adoption of Internet of Things and increasing pace of industrialization and urbanization across the globe. Moreover, increasing demand for B2B telecommunication from governmental and private entities will expand the scope of the market. However, privacy and security concerns with respect to B2B telecommunications might restrain market growth. Nevertheless, integration of B2B telecommunication with novel technologies will generate ample investment opportunities in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2020-2030 |
| Base Year | 2019 |
| Market Size in 2020 | $46.36 Billion |
| Market Size in 2030 | $181.35 Billion |
| CAGR | 14.8 % |
| No. of Pages in Report | 257 |
| Segments covered | By Enterprise Size, Solution and Industry Vertical |
| Drivers | Increase in adoption of IoT. Rise in demand for B2B telecommunication among corporate and government organizations |
| Opportunities | Integration of advanced technology such as artificial intelligence and cloud-based technology are expected to offer remunerative opportunities for expansion of the market during the forecast period. |
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The SMEs segment to be the fastest growing in the forecast period
Based on enterprise size, the SMEs segment is likely to showcase a CAGR of 15.9% during the 2021-2030 period. The growth of this segment is on account of the growing need to improve telecommunication systems among small and medium-scale enterprises. On the other hand, the large enterprise segment accounted for the highest revenue in 2020. The important role played by B2B telecommunication in offering help in auto-attendant and calls transferring services might become the main growth driver of the market.
The BFSI segment to dominate the market by 2031
On the basis of industry vertical, the BFSI segment held the highest market share in 2020 with nearly one-fourth of the global B2B telecommunication market. The ability of B2B telecommunications to offer a solution to leading banks to process unique transactions is expected to boost the growth of this segment. On the other hand, the media and entertainment segment is predicted to have the fastest CAGR of 17.7% during the forecast period. The secure communication solution provided by B2B telecommunications enables media houses connect with corporate media houses. This has increased the popularity of B2B communication which is expected to propel the growth of this segment.
North America to witness significant growth by 2031
Based on region, the North America B2B telecommunication market generated the highest revenue in 2020. Rising adoption and implementation of IoT and cloud-based products is expected to result in the expansion of the segment. On the other hand, the market in Asia-Pacific is expected to grow at a CAGR of 16.1% in the analysis timeframe. The availability of high-speed communication networks in several countries of this region will ultimately augment the growth rate of the market.
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Major Companies in the Market
- Amdocs
- Comarch S.A.
- Vodafone Group PLC
- Cisco Systems, Inc.
- Orange S.A.
- Telefonica, S.A.
- AT& T, Inc.
- NTT Communication
- Verizon
Key Industry Development -
In November 2023, Airtel Business has launched the ‘Airtel Advantage’ unified platform for offering global interconnect solutions to its partners, as the second-largest Indian telecom operator strengthened its strategy for the Communications Platform-as-a-Service (CPaaS) space. Airtel Advantage will offer international voice, A2P, P2A, P2P SMS, Direct Inward Dialing (DID), and International Toll-Free Service (ITFS), the telco said in a statement Thursday.
In February 2023, Bharti Airtel, India’s leading communications solutions provider, and Vultr, the world’s largest privately held cloud computing company, entered a strategic partnership to offer cloud solutions to enterprises in India. Airtel will offer Vultr’s extensive suite of cloud solutions to its enterprise customers, especially those in the digital space, and help them gain unrivaled global reach and cost-performance advantage to build, test, and run demanding cloud workloads.
In June 2023, Nokia partnered with Red Hat, Inc., the world's leading provider of open-source solutions. As part of the agreement, Nokia and Red Hat will jointly support and evolve existing Nokia Container Services (NCS) and Nokia CloudBand Infrastructure Software (CBIS) customers while developing a path for customers to migrate to Red Hat’s platforms over time. Additionally, Nokia will leverage Red Hat’s infrastructure platforms to enable faster development and testing of Nokia’s extensive core network portfolio.
In December 2022, Bharti Airtel, India’s premier digital communications solutions provider, and Meta Platforms, Inc. entered in a collaboration to support the growth of India’s digital ecosystem. Airtel and Meta will jointly invest in global connectivity infrastructure and CPaaS-based new-age digital solutions to support the emerging requirements of customers and enterprises in India.
In October 2021, Verizon Communications and Amazon’s low-earth-orbit (LEO) satellite network, Project Kuiper, collaborated to deliver connectivity solutions to unserved and underserved communities in the U.S.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
