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Telecom Cloud Market earned USD 19.1 Billion in 2020 and anticipated to reach USD 95.6 Billion in 2028, exhibiting at a CAGR of 22.3% | Size & Growth Report

12-09-2022 10:23 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Telecom Cloud Market

Telecom Cloud Market

Telecom Cloud Market reached USD 19.1 Billion in 2020 and is projected to reach USD 95.6 Billion in 2028, the market is growing at a CAGR of 22.3% till 2028.

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/telecom-cloud-market/

Key Drivers

The factors proliferating the Telecom Cloud Market includes rising number of internet mobile subscriptions, inclination towards cloud computing services over land line services and growing demand for information infrastructure services. Increasing cases of revenue leakages, growing demand of cloud-based technologies, emerging need to leverage BI and insights in enterprises for advanced operations are projected to expand the market growth.

Moreover, growing adoption of telecom services to minimize operational cost, growing adoption of virtual platforms, technological innovations in cloud computing and increasing demand for unified communication solutions, are driving the market growth. However, the rising incidences of cyber-attacks might impede the market growth.

Components - Segment Analysis

Solution segment is predicted to expand at a higher CAGR during the forecast period, due to the accelerating numbers of internet subscribers and emerging need to improve operational efficiency. Growing adoption of smartphones is another factor fueling the market growth.

Industry Vertical - Segment Analysis

BFSI segment is predicted to capture a sizeable market share over the forecast period attributed to increasing adoption of cloud telecom services for staff training and improving the customer experience.

Regional - Segment Analysis:

The demand for telecom cloud billing solutions in the Asia Pacific is projected to witness a significant growth due to the accelerating population and rising number of telecom companies. Accelerating internet penetration, economic expansion, and rapid globalization in various countries will further expand the market growth.

North America telecom cloud billing market will expand at a higher CAGR over the forecast period, due to the growing inclination towards cloud-based solutions and the growing use of customer relationship management (CRM) solutions.

Market Segmentation

Global Telecom Cloud Market by Components

Solution
Service

Global Telecom Cloud Market by Industry Vertical

Healthcare and Life sciences
Transportation and Distribution
Government and Public Sector
Retail and Consumer Goods
BFSI
Media and Entertainment
Others

Global Telecom Cloud Market by Applications

Computing
Enterprise Application
Achieving
Data Storage
Others

Global Telecom Cloud Market by Service

Iaas
SaaS
PaaS

Global Telecom Cloud Market by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

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GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

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