Telecom Consulting Market To Generate $14,519.6 Million Revenue by 2030

Factors such as the surge in need for strong network connectivity and the rapid adoption of advanced technologies by enterprises will help the telecom consulting market advance at a robust CAGR of 11.8% during 2021-2030. According to P&S Intelligence, the industry was valued at $5,307.2 million in 2021, and it will generate $14,519.6 million revenue by 2030. In recent years, the rapid digital transformation of business entities has become a major market trend, as digitization has transformed the way enterprises interact with customers and carry out their internal processes.

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The rising need for strong network connectivity is one of the key growth drivers of the market, as improved connectivity is vital to the smooth functioning of large enterprises. The prominent role of strong network connectivity can be credited to the effective communication offered by it. Additionally, stable connectivity helps business organizations access enterprises data from anywhere with robust security standards. To achieve these objectives, businesses are increasingly opting for telecom consulting services and solutions.

In addition, the increasing adoption of state-of-the-art technologies by business entities will also steer the telecom consulting market growth, worldwide. In this era of digitization, enterprises are largely focusing on the adoption of AI, ML, and IoT technologies, as the deployment of these technologies has resulted in the development of cloud transformation telecom consulting. In contemporary times, major telecom firms are adopting new-generation technologies to facilitate network expansion and reduce operational costs.

The cloud services, within the application segment, accounted for the largest share in the telecom consulting industry in 2020. This was on account of the surging requirement for the agility and rapid scalability of applications and software. Whereas, the unified communications category is expected to showcase the fastest growth in this decade. This will be on account of the ability of unified communications to give an employee the facility of responding to customers from any location.

Currently, the telecom consulting industry is consolidated, due to the presence of several key players, such as Bain & Company Inc., Boston Consulting Group Inc., Tata Consultancy Services Limited, Wipro Limited, KPMG International Limited, Deloitte Touche Tohmatsu Limited, and IBM Corporation. Nowadays, these companies are involved in partnerships and collaborations to consolidate their position. For instance, in October 2021, Stellants, TIM agreed to implement a private 5G network pilot project at a manufacturing plant of Stellants in the Automotive Centre of Goiana, in northeastern Brazil.

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Globally, the North American telecom consulting market is expected to generate the highest revenue throughout this decade. This will be due to the presence of prominent market players, rapid deployment of mobile networks, rise in need for high bandwidths, and surge in adoption of cloud services in the region. However, the APAC market is expected to exhibit the fastest growth in the coming years, owing to the mounting investments being made by businesses in data security and cloud-enabled solutions.

Thus, the surging requirement for strong network connectivity and the increasing deployment of new-generation technologies will supplement the market growth.

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This release was published on openPR.