Global Service Assurance Solutions Market – Introduction
- Service assurance solutions or platforms provide end-to-end, real-time visibility among all service tiers to assure proper service delivery that meets customer expectations.
- Service assurance solutions help in customized analytics delivered to derive key business insights across all business-related applications and services.
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Impact of Coronavirus (COVID-19) on the Service Assurance Solutions Market
Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) positively impacts the service assurance solutions market. During the lockdown period, network traffic has increased nearly 30%-40% due to increasing demand for video conferencing, VPN connections, e-learning platforms, video streaming, online gaming etc., which is expected to result in a significant rise in deployment of service assurance solutions for the year 2020 and 2024. This is expected to positively impact the service assurance solutions market.
Increasing Demand for Service Assurance Solutions across the Telecom Sector Expected to Drive the Global Service Assurance Solutions market
- Increasing number of mobile subscribers worldwide is significantly driving the service assurance solutions market in the telecom sector. According to the 2019 Mobile Economy Report from GSMA, new mobile subscribers accounted for approximately 5.1 billion in 2018, where smartphones accounted for nearly 60% of the connections. It is projected to reach around 6 billion by 2025, accounted nearly 80% share of smartphones. Surge in adoption of smartphones leads to remarkable growth in mobile data traffic, thus leading to a requirement for service assurance solutions for the telecom sector to handle increased data traffic volume. Service assurance platforms improve network optimization and provide better customer experience. Telecom service providers are focusing on investing comprehensively in service assurance solutions to meet the requirements of the increasing number of mobile subscribers.
- On the other hand, telecom operators are progressively focusing on VoWiFi services to protect their beneficial voice business against the upsurge of OTT applications. VoWiFi services provide new business prospects for telecom operators; hence, assuring Quality of Experience (QoE) & Quality of Service (QoS) becomes critical. Therefore, service assurance solutions help to manage VoWi-Fi services for telecom operators.
- Impact of this driver is expected to be high during the forecast period. Adoption of service assurance solutions is increasing across the globe, owing to increasing demand for service assurance solutions in the telecom sector. This is expected to boost the global service assurance solutions market in the next few years.
High Cost Expected to Hamper the Service Assurance Solutions Market
- Deployment of service assurance solutions is costly and it entails high maintenance cost. It also requires huge investment and its network equipment and upgrading costs are also high. Therefore, many end-users still rely on traditional office systems that are not quite compatible to handle advanced network requirements.
- Therefore, high cost is expected to hamper the growth of the service assurance solutions market during the forecast period.
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North America to Account for Major Share of the Global Service Assurance Solutions Market
- In terms of region, the global service assurance solutions market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global service assurance solutions market during the forecast period due to increasing in-house service assurance solutions. Europe is expected to follow North America in terms of share of the global service assurance solutions market from 2020 to 2030.
- The market in Asia Pacific is projected to expand at a rapid pace during the forecast period due to increasing cloud-based service assurance solutions, specifically among large-size enterprises, especially in India, Japan, and China.
Key Players Operating in the Global Service Assurance Solutions Market Include:
- NETSCOUT
- Assurance Global Financial
- EXFO Inc.
- VIAVI Solutions Inc.
- Comarch SA
- Netrounds AB
- The Anritsu Corporation
- Others
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