In a recent published report, Kenneth Research has updated the market report for Telecom Managed Services Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th, 2024, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2024. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2024. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2024. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2024 till March 2024 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Telecom Managed Services Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2024. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2024.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The Telecom Managed Services Market is expected to grow with a significant CAGR during the forecast period, i.e. 2024-2024, on the back of growing internet penetration around the world along with the rising adoption of smartphone. The statistics by the GSMA Intelligence stated that the total unique mobile subscribers as on May 2024 around the world was 5.24 billion.
Telecom Managed Services Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024
Overview:
Managed services have now become essential criteria for organizations who primarily want to focus on their core business functions, improve agility, customer service, and reduce costs & complexity. Managed services are much more radical in the present connected world, in which cloud, analytics security, and IoT all play an important role. They enable organizations to get benefits from operational and network transformation. It is estimated that the internal IT costs within organizations can be reduced by almost 30–40% with managed services, while improving efficiency by approximately 50%.
Market Analysis
According to Infoholic Research, the global telecom managed services market is expected to reach revenue of $26.03 billion by 2024, growing at a CAGR of around 12.1% during the forecast period. The market is expected to witness a surge in the next few years. The factors such as the continuous need for network optimization & high level of network performance, advancements in technologies such as 5G, SDN, & NFV, rising smartphone usage & BYOD trends, and increasing number of cyber-attacks will further foster the growth of the telecom managed services market during the forecast period.
Telecom industry has witnessed extensive growth during the past few years. Telecommunication companies are facing constant pressure to deliver innovative services at lower costs to retain their customers in the competitive market. For addressing a complex competitive environment, managed services have become a widespread demand for operators. Telecom companies, due to lower margins, are focusing on minimizing their costs, maximizing customer satisfaction & loyalty, and thereby generate maximum revenue.
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Market Segmentation Analysis
The report provides a wide-ranging evaluation of the market. It provides in-depth qualitative insights, historical data, and supportable projections & assumptions about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor’s portfolio, blogs, whitepapers, and vendor presentations. Thus, the research report represents every side of the market and is segmented based on regional markets, offerings, application, and end-users.
Competitive Analysis
The report covers and analyzes the telecom managed services market. Major vendors across different verticals are planning for high investments in this market, and as a result, the market is expected to grow at an impressive rate in the upcoming years. The key players are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaboration & partnerships, joint ventures, and few other strategies to be in the strong position in the market.
The report contains an in-depth analysis of the vendors profile, which includes financial health, business units, key business priorities, SWOT, strategies, and views. The prominent vendors covered in the report include Cisco Systems, Huawei Technologies, Ericsson, Fujitsu, ZTE, Tech Mahindra, Comarch, Subex, NCS, Unisys, and others. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.
Cisco Systems, Huawei Technologies, Ericsson, and Fujitsu are the key players in the telecom managed services market. Cisco has signed a 3-year managed service agreement with Saudi Telecom Company (STC) to transform STC’s core network and operations, and prepare it for the digital era. Huawei has partnered with various carriers to jointly build premium broadband networks and to implement the approach of value-driven network deployment.
The report also includes the complete insight of the industry, and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and to take informed decisions.
Regional Analysis
North America held the largest market share in 2017 and is expected to dominate the telecom managed services market during the forecast period. The market will experience a steep rise in this region. The factors driving the growth of the market in North America include rapidly evolving technological developments, the presence of the world’s largest telecom companies looking for optimizing their network investments & enhance customer satisfaction, and growing network cyber-attacks in this region.
Benefits
The report provides an in-depth analysis of the telecom managed services market. Managed services enable telecom companies to ensure business continuity with powerful protection by constantly monitoring network, keeping a check on the health of their network, and represents attractive growth opportunities for telecom companies. MSPs handle all the needs of telecom operators by allowing them to improve their services and concentrate on their core business.
Telecom managed service aims at increasing business agility, reduce operational as well as capital expenditure, improve technology rollouts and capacity planning. The report discusses service types and regions related to this market. Further, the report provides details about the major challenges impacting the market growth
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Table of Contents
1 Industry Outlook 10
1.1 Industry Overview 10
1.2 Industry Trends 11
1.3 PEST Analysis 12
2 Report Outline 13
2.1 Report Scope 13
2.2 Report Summary 13
2.3 Research Methodology 15
2.4 Report Assumptions 15
3 Market Snapshot 16
3.1 Total Addressable Market (TAM) 16
3.2 Segmented Addressable Market (SAM) 16
3.3 Related Markets 17
4 Market Outlook 19
4.1 Overview 19
4.2 Market Trends and Impact 19
4.3 Market Segmentation 20
5 Market Characteristics 21
5.1 Ecosystem 21
5.2 Value Chain 22
5.3 Market Dynamics 22
5.3.1 Drivers 23
5.3.1.1 Growing demand for high productivity & improved network performance 23
5.3.1.2 Improving Quality of service (Qos) and Quality of experience (QoE) 24
5.3.1.3 Increasing need for CAPEX and OPEX savings 24
5.3.2 Restraints 24
5.3.2.1 Privacy and Security Issues 24
5.3.3 Opportunities 25
5.3.3.1 Growing demand for cloud based offerings 25
5.3.3.2 Ability for disaster control and recovery 25
5.3.4 DRO – Impact Analysis 26
6 Service Types 27
6.1 Overview 27
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