Telecom Cloud Market (Type -Solutions, Services; Cloud Platform - Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Business Continuity as a Service (BCaaS), Infrastructure-as-a-Service (IaaS); Industry Vertical - Banking, Financial Services, Insurance (BFSI), Retail, Healthcare, Media and Entertainment, Transportation) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Albany, NY -- (SBWIRE) -- 02/14/2019 -- Telecom Cloud Market - Snapshot
During the last few decades, the telecom industry was badly affected by the drop in the business of landlines. For the telecom industry, integration of cloud computing offers potential for significant improvements which enables virtualization of storage, servers, and networks, increases utilization of available system resources, and reduces infrastructure cost. Telecom cloud refers to the shift in telecommunication industries from the traditional machine based landline services to cloud computing services which enable the utilization of networking resources efficiently. Telecom cloud delivers immediate technical and profitable business values with minimal management effort or service provider interaction. Moreover, cloud computing lowers the cost of infrastructure, and resources are shared more efficiently.
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In more recent times, many technological advancements have taken place in the telecom cloud market. BFSI, retail, transportation, and media & entertainment sectors widely use telecom cloud technology. Therefore, the telecom cloud market is expected to expand at a rapid pace in the coming years. Increase in the use of cloud infrastructureacross the world is primarily driving demand for telecom cloud computing.This is anticipated to drive the market over the forecast period. Moreover,increase in demand for telecom cloud from the BFSI industry is expected to fuel the telecom cloud market in the near future. However, high risk of data security and information loss is projected to inhibit the growth of the telecom cloud market across the world. The telecom cloud market is likely to reach a value of US$ 55.29Bn by 2026 from US$ 12.63Bn in 2017, expanding at a CAGR of 18.2% during the forecast period.
Based on type, the telecom cloud market can be segmented into solutions and services. The Unified Communication and Collaboration (UCC) solutions sub-segment accounted for a significant market share globally in 2017. The sub-segment is projected to hold its leading position over the forecast period. The Content Delivery Network (CDN) solutions sub-segment is estimated to expand at a rapid pace during the forecast period. The implementation of CDN among businesses across large and small scale industries is expected to grow as it provides scalability to meet the demand of changing technologies, helps to reduce workload of the network administration, and saves business cost. Based on type, the services segment accounted for the major share in the global telecom cloud market 2017 and is projected to maintain its position in the coming years. Under the services segment, network services occupied significant market share globally in the telecom cloud market. Network services which include network virtualization of the telecom cloudmarket is witnessing potential growth due to the growing need to support telecom infrastructure across the globe.
In terms of cloud platform, the Software-as-a-Service (SaaS) segment accounted for major share of the market and is estimated to maintain its leading position over the forecast period. The rapid growth of on demand services in the consumer world has led to the growth of Software-as-a-Service (SaaS) solutions in the business environment. Infrastructure as a service (IaaS) cloud platform is likely to hold a prominent market share during the forecast period. This is because IaaS helps in management and monitoring of remote data center infrastructure. Applications of this market segment are billing & provisioning, traffic management and others.
In terms of industry vertical, the global telecom cloud market is categorized into banking, financial services, and insurance (BFSI), retail, healthcare, media & entertainment, transportation, and others. Others segment includes government, education, and public sector. The BFSI sector is the prominent user of telecom cloud systems, while the transportation sector is projected to expand at a rapid pace over the forecast period. Telecom industry in the transportation sector generates huge amounts of data every day for which it needs considerable data management and storage provisioning. Thus, usage of telecom cloud systems in this sector is evolving at a significant rate.
The market in North America is anticipated to contribute significantly to revenue in the near future due to a large base of existing usersin the region. The market in Europe and South America is anticipated to follow a similar trend between 2018 and 2026. Furthermore, the market in Middle East & Africa is likely to expand at a robust CAGR in the coming years.
Attracted by the progressively expanding telecom cloud market and underlying embryonic demand, many small and large scale enterprises are driven to invest in telecom cloud solutions and services. System solutions developers and integrators and professional service providers across industries are strengthening their position in the telecom cloud market. Product innovation and upgrade of research and development are constantly taking place in the telecom market. For instance, in September 2017, Deutsche Telekom AG, Facebook, and the Telecom Infra Project announced the acceleration of innovation in telecom infrastructure in order to deliver the best network services to customers.
Prominent players as identified in the telecom cloud market and profiled in the study include AT & T Inc., BT Group plc., China Telecommunications Corporation, Deutsche Telekom AG, Vodafone Group Plc., Telus Corporation, Verizon Communication Inc., Fusion Telecommunications International, Inc.(U.S.), KDDI Corporation, Level 3 Communications, Inc., Ericsson, and Telstra Corporation Ltd.