Telecom Service Assurance Market revenues expected to gain $8.9 billion by 2024

According to a new market research report "Telecom Service Assurance Market by Solution (Products (Fault and Event Management, Performance Management) and Services), Operator Type (Mobile and Fixed), Deployment Type (On-Premises and Cloud), and Region - Global Forecast to 2024", published by MarketsandMarkets(TM), the global Telecom Service Assurance Market size expected to grow from USD 5.7 billion in 2019 to USD 8.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period.

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The major factors expected to drive the growth of telecom service assurance market are the increasing number of cellular/mobile subscribers, and growing need of operators to automate network operations due to high customer churn and low Average Revenue per User (ARPU) from voice and data services. Exponential growth in the global Internet Protocol (IP) traffic and cloud traffic, and prominence of Internet of Things (IoT) are expected to offer huge market opportunities for TSA vendors in the next 5 years.

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Quality and Service Management segment to record the highest growth rate during the forecast period

Under the products segment, the quality and service management segment is expected to grow at the highest growth rate during the forecast period. Quality and service management solutions aim to transform traditional network-centric telecom monitoring into customer-centric telecom service quality management. It enables the proactive management of digital services in complex ecosystems that can span physical, hybrid, and virtualized networks. The solutions help Communication Service Providers (CSPs) simplify the complexity of services and networks by providing end-to-end visibility across all domains and services, real-time service impact analysis with integrated automation, and root cause analysis.

Mobile operators segment to record the higher CAGR during the forecast period

In the Telecom Service Assurance Market by operator type, mobile operators are expected to record the higher CAGR during the forecast period. The total number of mobile operators is 750 around the world, as per the report by GSMA. Due to increased competition, the mobile operator focuses on network, service, and end-user related data to deliver optimal service performance and customer experience management. TSA solutions help both the fixed and mobile operators gain full network visibility with a clear and unified view of their customers' experience, thereby ensuring quality of service and quality of experience for voice, data, Voice over Long-Term Evolution (VoLTE), Short Message Service (SMS), fixed mobile, and broadband services.

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size in the global telecom service assurance market during the forecast period. The US has emerged as the largest country for the market in terms of market size, due to the heavy adoption of advanced technologies, such as 5G, cloud, analytics, and IoT, across the US organizations. Moreover, the US is one of the most advanced countries in the world in terms of technology adoption, which is known for its innovative and disruptive startups.

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Key and emerging market players include Broadcom (CA Technologies)(US), Ericsson(Sweden), HPE (US), NEC Corporation (Japan), Nokia (Finland), Accenture(Ireland), Amdocs(US), Comarch S.A. ( Poland), Huawei (China), IBM (US), NETSCOUT (US), Spirent (UK), TEOCO (US), MYCOM OSI (UK), EXFO(US), Intracom Telecom(Greece), RADCOM(Israel), Anritsu(Japan), VMware (US), Centina (US), Infovista (US), Arris International Limited (US), Enghouse Networks (Canada), and VIAVI(US).

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