The telecom cloud market is poised for remarkable growth with a projected (CAGR) of 15.2%. This robust expansion is expected to propel the market to a substantial valuation of US$ 99.4 Billion by the year 2032. The surge in demand for advanced telecommunications services and the increasing adoption of cloud-based solutions within the telecommunications sector are key drivers behind this anticipated growth.
During the pandemic, as individuals lived at home during the shutdown and businesses opted to work remotely, massive data consumption led to a spike in demand for telecom cloud installations, which significantly contributed to the market growth. Cloud has been one of the key themes of conversation in the telecom business in 2021 with the development of cloud-native 5G technology.
The public cloud solution provides on-demand infrastructure, lowering capital expenditure as well as continuous operational and life-cycle control. The public cloud may be a terrific incubator environment for not just developing new apps and services, but also bringing them to market and scaling them quickly.
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Many corporate firms rely on the public cloud as their base. Telecom companies are increasingly looking to collaborate using public cloud services to use their computational capacity and their strong network skills on the back end.
Hyperscalers such as Amazon, Google, Microsoft, and Oracle often establish and manage a uniform tech environment with public cloud platforms. CSPs, on the other hand, buy solutions from a variety of vendors who compete and advance in different directions, sometimes marginally, sometimes significantly.
Also, The BFSI sector outsources non-core functions to save money and enhance efficiency. As a consequence, targeted content views and precise financial data are required, which may be merged via a telecommunications cloud service.
Competitive Landscape:
The market is fiercely competitive, where key players are increasingly focused on obtaining a competitive advantage. The key companies in the Telecom Cloud Market are focused on R&D to produce innovative technological solutions.
- In April 2021, Momentum Telecom, a global provider of managed networks and cloud voice, revealed that it had accomplished its purchase of Atlus Technology, a Tennessee-based leader in the development of cloud-based unified communications solutions.
- In December 2020, Cisco announced the purchase of IMImobile, a cloud telecommunications software and service provider, allowing Cisco to provide its customers with an end-to-end client engagement management solution.
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More Insights Available:
Future Market Insights, in its new offering, presents an unbiased analysis of the Telecom Cloud Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Telecom Cloud Market in terms of Type (Public Cloud, Private Cloud, Hybrid Cloud), Cloud Computing Service (IaaS, PaaS, SaaS), Application (Data Storage, Achieving, Computing, Enterprise Application, Other Applications), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Telecom Cloud Market Segmentation:
By Type:
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Cloud Computing Service:
- IaaS
- PaaS
- SaaS
By Application:
- Data Storage
- Achieving
- Computing
- Enterprise Application
- Other Applications
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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