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Telecom IT Services Market: A Deep Dive into Industry Trends, Technological Advancements , Segmentation Analysis, Drivers, Challenges, and Future Potential
Telecom IT Services Market
As per the report, the telecom it services market size has grown rapidly in recent years. It will grow from $1089.43 billion in 2023 to $1249.12 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The telecom it services market size is expected to see rapid growth in the next few years. It will grow to $2192.64 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%.
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Smartphone Adoption Fuels Growth In Telecom It Services Market
The increasing use of smartphone devices is expected to propel the growth of the telecom IT services market going forward. Smartphones are portable electronic gadgets enabling users to browse the internet, send and receive texts. Mobile technology allows users to access information, making services more flexible. Telecom IT service providers are concentrating on providing backend support and creating data-based offers; thus, the increasing use of smartphone devices will propel the market's growth. For instance, in December 2021, according to the annual business report published by Samsung Electronics Co., Ltd., a South Korea-based electronics corporation, the global smartphone market has grown significantly to reach 1.36 billion units in 2021, from 1.30 billion units in 2020. Therefore, the increasing use of smartphone devices is driving the growth of the telecom IT services market.
Innovative Technologies Introduces Cutting-Edge Solutions For Telecom It Services
Technological advancements are key trends gaining popularity in the telecom IT services market. Major companies operating in the telecom IT services market are adopting new technologies to sustain their position in the market. For instance, in February 2023, HCL Technologies Limited, an India-based information technology services and consulting company, launched CloudSMART Modernization Experience and Site Reliability Engineering (SRE), two new technology suites to help expedite the modernization of telecom networks using Cloud Native platforms. HCLTech's cutting-edge CloudSMART Modernization Experience for telecom enables the use of open-source and off-the-shelf IT vendor solutions. This allows telecom service providers to develop bespoke solutions by merging best-of-breed platforms from various network solution vendors. HCLTech's SRE enablement for Cloud Native telecom allows a comprehensive set of practices required to conduct large-scale telecom operations on current Cloud Native platforms successfully. It enables telecom service providers to improve and sustain industry-leading dependability levels by incorporating modern SRE practices into their operations. This results in increased efficiencies while decreasing lock-in with traditional telecom network providers.
The telecom it services market covered in this report is segmented -
1) By Solution: CRM, Mobile Commerce, Enterprise Mobility, Network Management, Supply chain Management, OSS BSS, Other Solutions
2) By Deployment Type: Cloud-Based, On-Premise, Hybrid
3) By Organization Size: Small And Medium-Sized Businesses (SMBs), Large Enterprises
4) By Application: Commercial, Residential
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Major companies operating in the telecom it services market report are Amdocs, ALE International SAS, Capgemini SE, Cognizant, Telefonaktiebolaget LM Ericsson, HP Inc, Huawei Technologies Co, The International Business Machines Corporation, Oracle Corporation, WTG Technologies Limited, X4 Solutions, Telarus Inc., Intellisys Communication Inc, Telecom Brokerage Inc, Reliance Industries Ltd, China Mobile Ltd, T-Mobile US Inc, Verizon Communications Inc, Comcast Corp, Deutsche Telekom AG, Nippon Telegraph and Telephone Corp, AT&T Inc, SoftBank Group Corp, Telefonica SA, Vodafone Group Plc, Orange SA, BT Group Plc, Telstra Corp Ltd, China Telecom Corp Ltd
Contents of the report:
1. Executive Summary
2. Telecom IT Services Market Report Structure
3. Telecom IT Services Market Trends And Strategies
4. Telecom IT Services Market - Macro Economic Scenario
5. Telecom IT Services Market Size And Growth
…..
27. Telecom IT Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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