Telecom System Integration Market report provides detailed synopsis about opportunities, competitive landscape, emerging technologies, key trends and dynamics.
Northrook, IL -- (SBWIRE) -- 11/26/2019 -- According to a new market research report "Telecom System Integration Market by Application (OSS, BSS (Billing & Revenue Management, Subscriber Data Management, Service Fulfilment), Network Management, and Digital Services), Deployment Type, and Region - Global Forecast to 2022" published by MarketsandMarkets™, the Telecom System Integration Market expected to grow from USD 16.56 Billion in 2017 to USD 25.16 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period.
Increasing complexities in the cloud and network migration encountered by in-house IT departments have led the communication service providers to adopt telecom system integration services. The rapid pace of technological advancements in the ICT arena have driven the adoption rate of innovative technologies in the telecom industry. Changing customer expectations and intense competition in the telecom market have driven the rapid adoption of new technologies and services among telcos.
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Network management application is expected hold the largest market share during the forecast period.
Network infrastructure plays a vital role in the core operations of telecom industries. The continual advancements and developments around networking technologies has encourage telecom industries to embrace new technologies and upgrade their existing network infrastructure to meet the latest standards. Upgrading and migrating network infrastructure requires expertise to cope with the complexities in integrating and upscaling their existing infrastructure with new network technologies. Telecom industries are inclined to adopt professional system integrators to efficiently integrate network security and network monitoring solutions with an existing network infrastructure. Professional system integrators facilitate telecom industries by reducing the risks associated with integration and offer stability to the network infrastructure. Migration from wired to wireless network and IPv4 to IPv6, and evolution of 5G are expected to contribute to the growth of network management market.
Cloud deployment is expected to grow at a higher CAGR during the forecast period.
System integration services for cloud-based solutions are expected to gain high traction during the forecast period. This can be majorly attributed to the increasing demand for cloud-based solution due to the high flexibility, scalability, and cost efficiency offered by these solutions. Factors such as increasing data storage needs and mobility are the driving forces that are likely to aid the growth of cloud-based services market in the coming years.
North America accounts for the largest market share in the global Telecom System Integration Market.
North America is projected to be the largest contributor to the global Telecom System Integration Market by region. The US is holds the major share of the Telecom System Integration Market in North America, while Canada is expected to present potential opportunities for telecom system integration in the region. The Telecom System Integration Market in North America is expected to grow at a slow rate by 2022 compared to that of other regions, as the market in the region is well-established and stagnant.
North America comprises major telecom and communication service providers, such as AT&T, Verizon, T-Mobile, and Sprint Corporation. The presence of major telecom and communication service providers in the region contributes to the demand for telecom system integration services.
Major telecom system integration service providers include IBM (US), Ericsson (Sweden), Nokia Networks (Finland), Tech Mahindra (India), Huawei (China), Wipro (India), Infosys (India), DXC Technology (US), Cognizant (US), HCL (India), Syntel (US), and Stixis Technologies (US).
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