Telecommunication Market: Introduction
The global telecommunication
market is projected to reach value of US$ 2.5 Trn by 2030. The
market is projected to expand at a CAGR of ~5% from 2020 to 2030.
Expansion of the telecommunication market can be attributed to the high demand
for telecommunication services in on-premise and cloud based solutions among
growing industries. Asia Pacific is anticipated to lead the global telecommunication
market in terms of revenue, followed by North America and Europe, during the
forecast period.
Tablets and smartphones support video and audio
conferencing, instant messaging (IM), email, and social networking via PBX
mobile extensions and software clients. Hence, a majority of IP PBX vendors
have integrated voice into their UCC portfolios to further extend the
enterprise UCC functionality to tablets, cell phones, and smartphones via
mobile client software. This functionality was traditionally available only
through softphones and desktop phones.
The deployment of cloud telephony solutions has enabled
enterprises to reduce their capital expenditure (CAPEX) associated with
installation of hardware. Moreover, it has supported organizations in enhancing
their focus on revenue-generating operations, thereby eliminating the need for
hiring and retaining operational staff for management of communication
equipment in the organization. Users can access these solutions from any
Internet-connected device, which increased their productivity and allows usage
of various cloud-based telecommunication services from any remote location. The
impact analysis of increasing use of cloud-based communication is likely to
boost the market for telecommunication over the next few years.
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Telecommunication: Market Segmentation
The global telecommunication market has been segmented based
on component, enterprise size, industry, and region. In terms of component, the
market is categorized into hardware, software, and services. Hardware is
further segmented into broadcast communication equipment, telecom
infrastructure equipment, and consumer premise equipment. Software/platform is
classified into on-premise and cloud. Services is segmented into
telecommunication services, installation & integration services, repair
& maintenance services, and managed services. Based on enterprise size, the
market is categorized into small & medium enterprises and large
enterprises. Based on industry, the market is segregated into retail & e-Commerce,
IT & ITES, aerospace, healthcare & pharmaceutical, media &
entertainment, hospitality, automotive, manufacturing, transportation &
logistics, and others (oil & gas, utilities, and education).
Telecommunication Market: Regional Outlook
In terms of region, the global telecommunication market has
been segmented into North America, Europe, Asia Pacific, Middle East &
Africa, and South America. Asia Pacific is estimated to dominate the global
telecommunication market by the end of 2020. It is estimated to
maintain its dominance during the forecast period. The market in Asia Pacific
is expected to expand at the highest growth rate (CAGR) during the forecast
period, due to increasing adoption of cloud telecommunication services and
increasing investment by major companies to acquire more market share in the
region. The telecommunication market in Middle East & Africa and South
America is expected to expand moderately during the forecast period.
The report provides in-depth segment analysis of the global
telecommunication market, thereby providing valuable insights at macro as well
as micro levels. Analysis of major countries, which offer considerable
opportunities or account for significant share has also been included as part
of geographic analysis of the telecommunication market.
Some significant players engaged in the telecommunication
market include 8x8 Inc., AT&T, Inc., BT Group plc, Cisco Systems,
Inc., Deutsche Telekom AG, Huawei Technologies Co., Nokia Corporation, Orange
S.A., The Nippon Telegraph and Telephone (NTT) Corporation, Verizon
Communications, Inc., Vodafone Group Plc., and West Corporation (Intrado
Corporation).
Global Telecommunication Market: Segmentation
Telecommunication Market, by Component
- Hardware
- Broadcast
Communication Equipment
- Telecoms
Infrastructure Equipment
- Consumer
Premise Equipment
- Software/Platform
- On-premise
- Cloud
- Services
- Telecommunication
Services (TSP)
- Wired
Services
- Wireless
Services
- Installation
& Integration Services
- Repair
& Maintenance Services
- Managed
Services
Telecommunication Market, by Enterprise Size
- Small
& Medium Enterprises
- Large
Enterprises
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Telecommunication Market, by Industry
- Retail
& e-Commerce
- IT
& ITES
- Aerospace
- Healthcare
& Pharmaceutical
- Media
& Entertainment
- Hospitality
- Automotive
& Manufacturing
- Transportation
& Logistics
- Others
(Oil & Gas, Utilities, and Education)
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