Press release
Telecom Cloud Market Registering 21.8% CAGR Reach USD 125 Billion by 2030
The global telecom cloud market size was valued at $18 billion in 2020, and is projected to reach $125 billion by 2030, registering a CAGR of 21.8% from 2021 to 2030.
The rapid expansion of IT organizations and the telecommunication industry and modernization of information technology drive the growth of the global telecom cloud market. On the other hand, certain limitations of the cloud model impede the growth to some extent. However, significant advances in the domain of cloud computing and telecom services are expected to create lucrative opportunities in the industry.
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The global telecom cloud industry is segmented into type, computing service, end user, and region. Depending on type, the market is segregated into public, private, and hybrid cloud. On the basis of computing service, it is fragmented into IaaS, SaaS, and PaaS. By end user, it is categorized into BFSI, retail & consumer goods, healthcare & life sciences, media & entertainment, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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Based on region, the market across North America contributed to the major share in 2020, holding nearly two-fifths of the global telecom cloud industry. The Asia-Pacific region, however, would grow at the fastest CAGR by 24.5% from 2021 to 2030.
The key market players analyzed in the global telecom cloud market report include MICROSOFT, Google, AWS, IBM, Oracle, AT&T, ETISALAT, DELL, TELSTRA, and VERIZON. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Based on type, the public cloud segment held the major share in 2020, garnering more than two-thirds of the total market. The hybrid cloud segment, however, would cite the fastest CAGR of 24.7% during the forecast period.
By computing services, the IaaS segment accounted for more than two-fifths of the total market revenue in 2020 and is anticipated to retain its dominance by 2030. The SaaS segment, on the other hand, would grow at the fastest CAGR of 22.80% from 2021 to 2030.
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Covid-19 Scenario
• The telecom networks across the world have witnessed huge traffic, there's been a steep incline in demand for more telecom bandwidth during this period.
• The global telecom cloud sector has been set on a path of technological transformation to help handle the increasing demands of consumers.
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