The B2B Telecommunication Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s B2B Telecommunication Global Market Report 2024, The B2B telecommunication market size has grown rapidly in recent years. It will grow from $73.89 billion in 2023 to $84.8 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to globalization, data security concerns, regulatory environment, cost efficiency.
The B2B telecommunication market size is expected to see rapid growth in the next few years. It will grow to $150.54 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to cybersecurity measures, hybrid work models, international expansion of businesses. Major trends in the forecast period include AI and automation, technological advancements, 5G deployment and adoption, cloud-based communication services, customization and scalability.
The increase in industrialization and urbanization in several countries is expected to propel the growth of the B2B telecommunication market going forward. Industrialization refers to the transformation of a country’s economy from agriculture to mass-production of goods and services using technology through industries. Urbanization, on the other hand, refers to the permanent migration of rural people to cities. B2B telecommunication in industrialization helps in gathering and processing customer data that can be used in targeting advertisements and predicting clients’ behaviors to control the cost of operation, which is essential for industrialization. For instance, according to the Federal Reserve Board, the central banking system of the United States of America, in August 2022, the total industrial output increased by 0.6%. Additionally, in June 2021, according to UNCTAD, a Geneva-based intergovernmental organization intended to promote the interests of developing states in world trade, by 2020, the share of the urban population increased to 56.2%. Therefore, the increase in industrialization and urbanization in several countries is driving the B2B telecommunication market growth.
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The B2B telecommunication market covered in this report is segmented –
1) By Solution: Cloud Services, Unified Communication And Collaboration, VoIP, Wan, M2M Communication
2) By Enterprise Type: Large Enterprises, Small And Medium Enterprises
3) By Industrial Verticals: Banking, Financial Services And Insurance (BFSI), Information Technology And Telecom, Media And Entertainment, Healthcare, Government, Retail And Ecommerce, Other Industrial Verticals
Major companies operating in the B2B telecommunication market are focusing on product launches, such as pre-integrated BSS/OSS suites designed to help communication services providers (CSPs) maximize their potential in the burgeoning B2B telecommunication market. A pre-integrated BSS/OSS suite refers to a comprehensive and unified set of business support systems (BSS) and operational support systems (OSS) that have been pre-assembled and configured to seamlessly work together, streamlining telecommunications and network management processes. For instance, in April 2021, Cerillion, a UK-based company that provides billing, charging, and customer management systems, launched Cerillion 21.1 and 22.1 pre-integrated BSS/OSS suites. These offer streamlined B2B sales, optimized post-sales service management, a universal CRM portal, and Cerillion Enterprise—a pre-integrated BSS/OSS solution for automating the quote-to-cash process. This ultimately reduces inefficiencies and costs for CSPs in the B2B telecommunication market while expediting time-to-value through purpose-built configuration and tailored workflows. These features collectively enhance operational efficiency, improve customer relationship management, and enable B2B telcos to capitalize on new revenue streams and emerging technologies like 5G.
The b2b telecommunication market report table of contents includes:
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