Press release
What is the Impact of the COVID-19 Crisis on the Global Telecom Industry Overview ?
The global telecommunication market is projected to reach value of US$ 2.5 Trn by 2030. The market is projected to expand at a CAGR of ~5% from 2020 to 2030. Expansion of the telecommunication market can be attributed to the high demand for telecommunication services in on-premise and cloud based solutions among growing industries. Asia Pacific is anticipated to lead the global telecommunication market in terms of revenue, followed by North America and Europe, during the forecast period.Want to know the obstructions to your company’s growth in future? Request a brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=121
Tablets and smartphones support video and audio conferencing, instant messaging (IM), email, and social networking via PBX mobile extensions and software clients. Hence, a majority of IP PBX vendors have integrated voice into their UCC portfolios to further extend the enterprise UCC functionality to tablets, cell phones, and smartphones via mobile client software. This functionality was traditionally available only through softphones and desktop phones.
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The deployment of cloud telephony solutions has enabled enterprises to reduce their capital expenditure (CAPEX) associated with installation of hardware. Moreover, it has supported organizations in enhancing their focus on revenue-generating operations, thereby eliminating the need for hiring and retaining operational staff for management of communication equipment in the organization. Users can access these solutions from any Internet-connected device, which increased their productivity and allows usage of various cloud-based telecommunication services from any remote location. The impact analysis of increasing use of cloud-based communication is likely to boost the market for telecommunication over the next few years.
The global telecommunication market has been segmented based on component, enterprise size, industry, and region. In terms of component, the market is categorized into hardware, software, and services. Hardware is further segmented into broadcast communication equipment, telecom infrastructure equipment, and consumer premise equipment. Software/platform is classified into on-premise and cloud. Services is segmented into telecommunication services, installation & integration services, repair & maintenance services, and managed services. Based on enterprise size, the market is categorized into small & medium enterprises and large enterprises. Based on industry, the market is segregated into retail & e-Commerce, IT & ITES, aerospace, healthcare & pharmaceutical, media & entertainment, hospitality, automotive, manufacturing, transportation & logistics, and others (oil & gas, utilities, and education).
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About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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