Global Telecom Managed Services market will reach 26.03 million US$ by the end of 2024 and is Expected to Grow at a CAGR of 12.1% Between 2019-2025 By Valuates Reports

The global telecom managed services market is expected to reach revenue of $26.03 billion by 2024, growing at a CAGR of around 12.1% during the forecast period. The market is expected to witness a surge in the next few years.

Managed services have now become essential criteria for organizations who primarily want to focus on their core business functions, improve agility, customer service, and reduce costs & complexity.

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Key Trends :

They enable organizations to get benefits from operational and network transformation. It is estimated that the internal IT costs within organizations can be reduced by almost 30–40% with managed services, while improving efficiency by approximately 50%.

Telecom industry has witnessed extensive growth during the past few years.Telecommunication companies are facing constant pressure to deliver innovative services at lower costs to retain their customers in the competitive market. For addressing a complex competitive environment, managed services have become a widespread demand for operators.

Market Segmentation Analysis

The report provides a wide-ranging evaluation of the market. It provides in-depth qualitative insights, historical data, and supportable projections & assumptions about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor’s portfolio, blogs, whitepapers, and vendor presentations. Thus, the research report represents every side of the market and is segmented based on regional markets, offerings, application, and end-users.

Competitive Analysis

The report covers and analyzes the telecom managed services market. Major vendors across different verticals are planning for high investments in this market, and as a result, the market is expected to grow at an impressive rate in the upcoming years. The key players are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaboration & partnerships, joint ventures, and few other strategies to be in the strong position in the market.

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Regional Analysis

North America held the largest market share in 2017 and is expected to dominate the telecom managed services market during the forecast period. The market will experience a steep rise in this region. The factors driving the growth of the market in North America include rapidly evolving technological developments, the presence of the world’s largest telecom companies looking for optimizing their network investments & enhance customer satisfaction, and growing network cyber-attacks in this region.

Benefits

The report provides an in-depth analysis of the telecom managed services market. Managed
services enable telecom companies to ensure business continuity with powerful protection by
constantly monitoring network, keeping a check on the health of their network, and represents
attractive growth opportunities for telecom companies. MSPs handle all the needs of telecom
operators by allowing them to improve their services and concentrate on their core business.

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This release was published on openPR.