Telecommunication Market: Introduction
The global telecommunication market is projected to reach value of US$ 2.5 Trn by 2030. The market is projected to expand at a CAGR of ~5% from 2020 to 2030. Expansion of the telecommunication market can be attributed to the high demand for telecommunication services in on-premise and cloud based solutions among growing industries. Asia Pacific is anticipated to lead the global telecommunication market in terms of revenue, followed by North America and Europe, during the forecast period.
Tablets and smartphones support video and audio conferencing, instant messaging (IM), email, and social networking via PBX mobile extensions and software clients. Hence, a majority of IP PBX vendors have integrated voice into their UCC portfolios to further extend the enterprise UCC functionality to tablets, cell phones, and smartphones via mobile client software. This functionality was traditionally available only through softphones and desktop phones.
The deployment of cloud telephony solutions has enabled enterprises to reduce their capital expenditure (CAPEX) associated with installation of hardware. Moreover, it has supported organizations in enhancing their focus on revenue-generating operations, thereby eliminating the need for hiring and retaining operational staff for management of communication equipment in the organization. Users can access these solutions from any Internet-connected device, which increased their productivity and allows usage of various cloud-based telecommunication services from any remote location. The impact analysis of increasing use of cloud-based communication is likely to boost the market for telecommunication over the next few years.
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Telecommunication: Market Segmentation
The global telecommunication market has been segmented based on component, enterprise size, industry, and region. In terms of component, the market is categorized into hardware, software, and services. Hardware is further segmented into broadcast communication equipment, telecom infrastructure equipment, and consumer premise equipment. Software/platform is classified into on-premise and cloud. Services is segmented into telecommunication services, installation & integration services, repair & maintenance services, and managed services. Based on enterprise size, the market is categorized into small & medium enterprises and large enterprises. Based on industry, the market is segregated into retail & e-Commerce, IT & ITES, aerospace, healthcare & pharmaceutical, media & entertainment, hospitality, automotive, manufacturing, transportation & logistics, and others (oil & gas, utilities, and education).
Telecommunication Market: Regional Outlook
In terms of region, the global telecommunication market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific is estimated to dominate the global telecommunication market by the end of 2020. It is estimated to maintain its dominance during the forecast period. The market in Asia Pacific is expected to expand at the highest growth rate (CAGR) during the forecast period, due to increasing adoption of cloud telecommunication services and increasing investment by major companies to acquire more market share in the region. The telecommunication market in Middle East & Africa and South America is expected to expand moderately during the forecast period.
The report provides in-depth segment analysis of the global telecommunication market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which offer considerable opportunities or account for significant share has also been included as part of geographic analysis of the telecommunication market.
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Some significant players engaged in the telecommunication market include 8×8 Inc., AT&T, Inc., BT Group plc, Cisco Systems, Inc., Deutsche Telekom AG, Huawei Technologies Co., Nokia Corporation, Orange S.A., The Nippon Telegraph and Telephone (NTT) Corporation, Verizon Communications, Inc., Vodafone Group Plc., and West Corporation (Intrado Corporation).
Global Telecommunication Market: Segmentation
Telecommunication Market, by Component
- Broadcast Communication Equipment
- Telecoms Infrastructure Equipment
- Consumer Premise Equipment
- Telecommunication Services (TSP)
- Wired Services
- Wireless Services
- Installation & Integration Services
- Repair & Maintenance Services
- Managed Services
Telecommunication Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Telecommunication Market, by Industry
- Retail & e-Commerce
- IT & ITES
- Healthcare & Pharmaceutical
- Media & Entertainment
- Automotive & Manufacturing
- Transportation & Logistics
- Others (Oil & Gas, Utilities, and Education)
Telecommunication Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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