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ALBANY, New York, Sept. 04, 2018 (GLOBE NEWSWIRE) -- According to a new market report entitled Telecom Cloud Market -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026, published by Transparency Market Research, the global telecom cloud market is expected to reach US$ 55.29 Bn by 2026, expanding at a CAGR of 18.2% from 2018 to 2026. According to the report, the global market is expected to continue to be influenced by a range of macroeconomic and industry-specific factors. North Americais anticipated to continue to be at the forefront of global demand, with the market in the region expanding at a CAGR of above 18.1% during the forecast period. Technical advancements, increased digitization, and presence of a large number of cloud computing solutions and services providersare anticipated to drive the telecom cloud market in North America.
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Growing Significance of the BFSI Industry and Increasing use of Cloud Infrastructure across the World are driving the Global Telecom Cloud Market
Increase in the adoption of cloud infrastructure in different organizations and IT modernization is expected to boost the telecom cloud market in the coming years. Moreover, the increasing trend of connected devices among users has offered telecom operators an opportunity to capitalize on the growth of cloud services as providers as well as adopters of the technology. Furthermore, increased presence of a number of telecom cloud solution providers and post-sale service providers across regions has led to a subsequent rise in demand for telecom cloud systems. This is likely to propel the growth of the market during the forecast period.
In terms of telecom cloud systems, both North America and Europe are mature regions of the market, owing to high awareness about telecom cloud among users and technological developments. However, the market in Asia Pacific is expected to expand at a robust pace during the forecast period. Rise in penetration of technology as well as significant investments in the optimal utilization of networking resource across countries such as the U.S., U.K., Germany, France, China, India, and Brazil are anticipated to offer lucrative opportunities for telecom cloud providers in the near future.
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Telecom Cloud Market: Scope of the Report
Based on type, the global telecom cloud markethas been segmented into solutions and services. The services segment held a significant market share and is anticipated to remain dominant over the forecast period in terms of revenue. The segment has been further divided into Network as a Service (NaaS), professional service, colocation service, and managed service. The Network as a Service (NaaS) based sub-segment which includes network virtualization accounted for a prominent market share globally, followed by the professional service sub-segment, in terms of revenue. However, the professional service sub-segment is expected to expand significantly over the forecast period as it manages the entire lifecycle of the solution. The solutions segment is projected to expand steadily in the coming years due to the increasing demand for content delivery, unified communications and collaboration, etc., from various end use industries. The report includes analysis of the telecom cloud market by region, segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Based on cloud platform, the Software-as-a-Service (SaaS) segment accounted for a major share of the global market in 2017, followed by the Business Continuity as a Service (BCaaS) segment. As per the research study,the Infrastructure-as-a-Service (IaaS) segment is projected to expand at a rapid pace between 2018 and 2026 and is expected to hold a prominent market share globally by the end of 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.
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By industry vertical, the market is segmented into banking, financial services, and insurance (BFSI), retail, healthcare, media & entertainment, transportation, and others. Others segment includes government, education, and public sector. Growing demand for telecom cloud solutions and services from retail & customers, media & entertainment, transportation, and healthcare etc., is anticipated to drivegrowth ofthe global telecom cloudmarket in the coming years. Based on industry vertical, BFSI segment is a prominent user of telecom cloud systems. This segment accounted for major market share in 2017 and is expected to hold its leading position over the forecast period. However, the market in the transportation segment is projected to expand at a rapid pace in the near future.
North America held a prominent share of the telecom cloud market in 2017.The market in the region is anticipated to expand at a CAGR of 18.1% during the forecast period. In 2017, the U.S. held a significant share in terms of revenue of the telecom cloud market in North America, followed by Canada. However, the market in Asia Pacific and South America is anticipated to expand at a significant CAGR in the coming years.
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Global Telecom Cloud Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global telecom cloud market. Profiles of market players provide details on company business overview, broad financial overview, business strategies, and recent developments. Some of the key players in the telecom cloud marketas profiled in the study are 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.among others.
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