Selbyville, Delaware, Feb. 14, 2022 (GLOBE NEWSWIRE) --
The telecom service assurance market is anticipated to reach USD 10 billion by 2028, as reported in a research study by Global Market Insights Inc. Increasing demand for better broadband connectivity is fostering the market demand.
The growing technological advancements across telecom sector is driving the telecom service assurance market growth. Various communication service providers across the globe are extensively working on transforming telecom infrastructure. The telecom service providers are expanding their offerings by developing the cost effective and multi-play digital services. Moreover, increasing demand for personalized, cost effective and automated service assurance tool has highlighted the need for an efficient OSS solution.
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Professional services held a market share of over 70% in 2021. Professional service assurance services help the organizations to provide wide range of resources such as customized development and implementation, software upgradation, technical support to customers. It offers several benefits such as faster time to market, continuous expert support and improve value of the solution.
The mobile operator is expected to grow at a CAGR of about 10% from 2022 to 2028 due to growing work from home trend owing to COVID-19 pandemic restrictions. Moreover, the growing need for telecom operators to detect network issues and errors in order to protect customers from experiencing service quality deterioration, is supporting the market growth of mobile operator segment.
The cloud model is projected to witness around 10% gains through 2028 led by growing popularity of cloud computing technology in telecom sector. The telecom service providers are extensively adopting cloud-based service assurance solution in order to reduce upgradation and maintenance cost. It offers several benefits such as improved operational efficiency, flexibility, and scalability.
Europe is poised to observe exponential growth in the telecom service assurance market on account of growing demand for 5G network. The well-established telecom sector in the region is another factor supporting the market growth. Telecom service assurance companies operating in the region are focusing on developing advanced and integrated telecom service assurance solutions for their customers. For instance, in February 2020, MYCOM OSI launched new service assurance AI/ML capability for CSPs network. The solution allowed the communication service providers to implement AI/ML driven predictive operations and improve their service quality.
Companies operating in the market are focusing on developing advanced telecom service assurance solution. For instance, in August 2021, RADCOM launched cloud native and fully automated 5G assurance RADCOM ACE on AWS. It provided the real-time subscribers analytics and advanced troubleshooting capabilities to telecom operators. It also helped the operators to enhance the ensure the service quality on public cloud.
Some major findings of the telecom service assurance market report include:
- Advancements in technologies such as IoT and 5G, are anticipated to support market growth.
- The rapidly growing telecom sector across the globe is providing significant growth opportunity to the market.
- The Europe telecom service assurance market is propelled by growing adoption of next generation OSS systems.
- Major players operating in the telecom service assurance market are Accenture PLC Anritsu, Amdocs, Broadcom Inc, Cisco Systems, Comarch S.A., Commscope, Enghouse Networks, Ericsson and EXFO.
- Companies operating in the market are focusing on strategic partnerships to develop integrated and advanced telecom service assurance solution for CSPs.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Telecom service assurance industry 360º synopsis, 2018 – 2028
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Operator type trends
2.6 Deplpyment trends
Chapter 3 Telecom Service Assurance Industry Insights
3.1 Introduction
3.2 Industry segmentation
3.3 COVID-19 impact
3.4 Industry evolution
3.5 Telecom service assurance industry ecosystem analysis
3.6 Technology & innovation landscape
3.7 Investment portfolio
3.8 Patent analysis
3.9 Regulatory landscape
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.2 Industry pitfalls & challenges
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
