Global B2B Telecommunications Market: Overview
The global B2B telecommunications market is rapidly growing and is expected to further increase its growth pace in the coming years. In fact, the B2B telecommunications market is predicted to outpace the consumer telecom market. Access to high-speed internet and availability of smartphones has paved way for telecom companies to explore the global B2B communications market.
Transparency Market Research is coming out with a report on the key trends of the global B2B telecommunications market. It discusses the market overview, its drivers and restraints, in-depth analysis of the competitive dynamics, detailed geographical insights, and the key takeaways for market players.
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Global B2B Telecommunications Market: Drivers and Restraints
One of the biggest drivers of the global B2B telecommunications market is the adoption of Internet of Things (IoT). It has been gaining impetus as it is cost effective, and facilitates wireless transactions and machine-to-machine communications. Easy access to high-speed broadband, penetration of the internet in remote areas, and availability of storage devices is fuelling the growth of the global B2B telecommunications market.
Besides, B2B telecommunication solutions have eliminated the need for face-to-face communications. In this manner, they have helped companies cut-down on travel expenses and reduce dependency on conferences to reach out to prospective clients. These solutions have also facilitated knowledge sharing among players in the market.
Some solutions focus on managing complexities involved in delivering and supporting several customized products and services. They ease managing service level agreements (SLAs) and complicated fulfilment process for a company’s customer management system.
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A major restraint facing telecommunication companies in the global B2B telecommunications solutions market is the lack of resources. With consumer business as the focus, most telecom companies have deployed junior employees to handle the B2B business.
Global B2B Telecommunications Market: Geographical Analysis
North America is expected to hold the largest share of the global B2B telecommunications market followed by Europe. It is also predicted that the Asia Pacific region will be growing at the fastest pace. Faster adoption of cloud and VoIP (Voice over Internet Protocol) are the key reasons for the rapid growth. Latest developments in the media and entertainment, and telecom industries are pushing the growth in India, China and South Korea. This in turn is supporting the speedy growth of Asia Pacific B2B telecommunications market.
Global B2B Telecommunications Market: Competitive Dynamics
There are several key players in the global B2B telecommunications market. Those include Verizon Communications Inc., AT&T Inc., Cisco Systems Inc., Vodafone Group PLC., Deutsche Telecom, and Orange S.A.
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