B2B Telecommunication Market is expected to reach USD 93.85 billion by 2029 : Cognitive Market Research

As per Cognitive Market Research analysis, the global B2B Telecommunications market size was valued at USD 32.67 billion in 2021 and is expected to grow at a CAGR of 14.10% during the forecast period, reaching USD 93.85 billion by 2029.

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B2B is referred to as business to business, and a telecom service provider sells its telecommunication products and services to small, medium, and large businesses. B2B customer needs are becoming the focus of innovation teams, and with the remote working revolution, there is more opportunity than ever before for telcos to cater to the growing needs of B2B customers. The rapid expansion of the telecom industry and higher acceleration in the adaptation of online shopping are some key factors that boost the growth of the B2B Telecommunications market over the forecast period. The telecom industry continues to make development in expanding its network capacity with fiber and wireless deployments to meet the consumer's demand for higher-speed networks. In addition, consumer demand for more sustainable business solutions, and more efficient processes in the business world is another factor contributing to the growth of this market. CISCO reported that internet video constitutes around 71% of all mobile business internet traffic in 2022. However, technical issues regarding the use of online communication channels and reduced physical interactions might hamper the growth of this market. Furthermore, future innovations in advanced cloud technologies will offer great opportunities during the forecast period.

Regional Analysis of the B2B Telecommunications Market:
• North America accounted for relatively the largest share of the B2B telecommunications market. The market demand is growing in the region due to North American companies increasingly shifting their management focus toward protecting and growing the business market. Additionally, the U.S. industry players in the telecommunications sector provide fixed-line telephone and wireless services, as well as internet data and video communications.

Top players involved in the Global B2B Telecommunications market:
- The global B2B Telecommunications market involves key players such as
• Verizon Communications Inc.
• AT&T Inc.
• Vodafone Group PLC
• Telefonica
• S.A.
• Sprint Corporation
• Telstra Corporation Limited
• Orange S.A.
• Deutsche Telekom AG
• Amdocs Ltd and NTT Communications Corporation
• Cisco Systems Inc.
• Comarch SA
• Telefonica S.A.
• Others.

News
• Cisco supported partners with digital marketing shift
- In November 2022, Cisco enhanced its lifecycle advantage to make sure it is responding to partner feedback and providing the tools that are required. The company's got to make things easy for partners by providing that end-to-end experience. The company enables its partners to digitally engage with their customers to drive adoption through the lifecycle to upsell and cross-sell opportunities, based on data and analytics.

Segment Analysis:
• Based On The Solution, the market is segmented into VoIP, WAN, cloud services, M2M communication, unified communication, collaboration, and others. The cloud services segment is accounted for the largest revenue share in the B2B telecommunications market owing to the B2B wireline and cloud products experiencing an offsetting increase in demand as they are playing an increasingly critical role in enabling the new remote workforce.

• Based On The Industry Vertical, the market is segmented into BFSI, healthcare, media and entertainment, government, and others. BFSI is dominating the segment on account of customers driving digital adoption and demanding flexibility, continuity, and individuality from their financial service providers. The banking and financial services sector has experienced major shifts toward B2B telecommunications in the last few years. With recent advancements in digital innovations along with the rise of FinTech, financial institutions are competing to embrace new technologies and delight customers with personalized, enhanced mobile and digital experiences.

Related Report:
• Telecom Services Market - https://www.cognitivemarketresearch.com/telecom-services-market-report
• Telecommunication market - https://www.cognitivemarketresearch.com/Telecommunication-market-report
• Telecom Equipment Market - https://www.cognitivemarketresearch.com/telecom-equipment-market-report
• Networking Hardware Market - https://www.cognitivemarketresearch.com/networking-hardware-market-report

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Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

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