Albany, NY -- (SBWIRE) -- 10/23/2018 -- 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.
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