Telecom Managed Services Market Trends, Outlook, Insights, Overview 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Telecom Managed Services Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The telecom managed services market size has grown rapidly in recent years. It will grow from $22.56 billion in 2023 to $25.95 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth in the historic period can be attributed to network complexity, focus on core business functions, cost optimization, growing subscriber base, globalization of telecom operations, rapid expansion of mobile services, competitive market dynamics.

The telecom managed services market size is expected to see rapid growth in the next few years. It will grow to $44.56 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to focus on quality of service, focus on customer experience management, cybersecurity concerns, demand for network analytics, network slicing implementation, focus on sustainability and green telecom. Major trends in the forecast period include technological convergence, 5g deployment and network modernization, cloud-native and edge computing integration, internet of things (iot) connectivity management, ai and machine learning for predictive analytics, network function outsourcing, cross-industry collaboration.

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Market Drivers and Trends:

Increase in integration of advanced technologies such as 5G is expected to propel the telecom managed services market going forward. 5G or fifth generation, refers to the latest generation of wireless cellular network technology. It represents a significant advancement in telecommunications standards and capabilities compared to its predecessors, such as 4G (fourth generation) and 3G (third generation). Telecom managed services play a crucial role in the seamless integration and optimization of 5G technology within telecommunications networks. Telecom managed services providers assist in planning, deploying, and maintaining the complex infrastructure required for 5G networks. For instance, in April 2023, according to an article published by 5G Americas, a US-based company that facilitates the advancement of 5G and the transformation of LTE networks, the global 5G wireless connections increased by 76% from the end of 2021 to the end of 2022, reaching up to 1.05 billion. Therefore, an increase in integration of advanced technologies such as 5G is driving the telecom managed services market.

Technological advancement is the key trend gaining popularity in the telecom managed services market. Major companies operating in the market are focusing on new technologies such as new delivery platform and services for expanding market share. For instance, in June 2022, a Sweden-based information technology company, Enea launched the industry's first complete Wi-Fi Software-as-a-Service (SaaS) service management solution for communication service providers (CSPs). The new offering allows telecom operators to launch and monetize Wi-Fi services, allowing companies to scale at their own pace with a pay-as-you-grow model to expand their Wi-Fi service footprint and deliver more coverage.

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Major Key Players of the Market:

Fujitsu Limited, DXC Technology Company, Juniper Networks, Cognizant Technology Solutions Corporation, ZTE Corporation, Capgemini SEPlc., Tech Mahindra Limited, Huawei Technologies Co. Ltd., Sprint Corporation, Vodafone Idea, Cisco Systems Inc., IBM Corporation, Unisys Corporation, Windstream Holdings Inc., AT&T Inc., Verizon Communications Inc., Comarch SA, HCL Technologies Limited, Amdocs Inc., NTT DATA Corporation, Telefonaktiebolaget LM Ericsson, GTT Communications Inc., CenturyLink, Comcast Corporation, Larsen & Toubro Infotech, Nokia Corporation, Tata Consultancy Services Limited, Wipro Limited, Zayo Group Holdings Inc., Ericsson India Limited, Motorola Inc.

Telecom Managed Services Market 2024 Key Insights:

• The telecom managed services market size is expected to see rapid growth in the next few years. It will grow to $44.56 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.
• Surging Internet Penetration Fuels Demand For Telecom Managed Services
• Enea Leads The Way With Innovative Wi-Fi Saas In Telecom Managed Services Market
• North America was the largest region in the telecom managed services market share in 2023

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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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