The B2B Telecommunications Market Is Set To Grow At A 15% Annual Rate, Due To Rising Industrialization And Urbanization As Per The Business Research Company's B2B Telecommunication Global Market Report 2022

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LONDON, Nov. 29, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research on the B2B telecommunication market, the increase in industrialization and urbanization in several countries is expected to propel the growth of the B2B telecommunication market going forward. Industrialization refers to the transformation of a country’s economy from agriculture to mass-production of goods and services using technology through industries. Urbanization, on the other hand, refers to the permanent migration of rural people to cities. B2B telecommunication in industrialization helps in gathering and processing customer data that can be used in targeting advertisements and predicting clients' behaviors to control the cost of operation, which is essential for industrialization.

For instance, according to the Federal Reserve Board, the central banking system of the United States of America, in August 2022, the total industrial output increased by 0.6%. Additionally, in June 2021, according to UNCTAD, a Geneva-based intergovernmental organization intended to promote the interests of developing states in world trade, by 2020, the share of the urban population increased to 56.2%. Therefore, the increase in industrialization and urbanization in several countries is driving the growth of the B2B telecommunication industry.

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The global B2B telecommunications market size is expected to grow from $56.33 billion in 2021 to $65.44 billion in 2022 at a compound annual growth rate (CAGR) of 16.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The B2B telecommunications market is expected to reach $117.01 billion in 2026 at a compound annual growth rate (CAGR) of 15.6%.

Technological innovations are the key trends gaining popularity in the B2B telecommunication market. Major companies operating in the market are introducing new technologies such as SD-WAN an advanced technology to sustain their position in the market. For instance, in July 2021, Airtel India, an Indian-based company operating in telecommunication, and Cisco System Inc., a US-based multinational company operating in telecommunication and IT solutions, combined developed and launched their next-gen connectivity technology Cisco SD-WAN Connect. Cisco SD-WAN Connect provides unique integrated capabilities for multi-cloud, security, unified communications, and other features in a SASE (Secure Access Service Edge) enabled architecture in telecommunication.

Major players in the b2b telecommunication market are Amdocs, AT&T Inc, Cisco Systems Inc, Comarch, Deutsche Telekom AG, NTT Ltd, Orange S A, Telefónica S A, Vodafone Group Plc, Verizon, Telstra Corporation Limited, Sprint Corporation, China Telecommunications Corporation, China Mobile Limited and China United Network Communications Group Co Ltd.

The global B2B telecommunication market is segmented by solution into cloud services, unified communication and collaboration, VoIP, Wan, M2M communication; by enterprise type into large enterprises, small and medium enterprises; by industrial verticals into banking, financial services and insurance (BFSI), information technology and telecom, media and entertainment, healthcare, government, retail and ecommerce, other industrial verticals.

North America was the largest region in the B2B telecommunication market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the B2B telecommunication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

B2B Telecommunication Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide B2B telecommunication market forecast size and growth, B2B telecommunication market segments, B2B telecommunication market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.

The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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