Overview and Scope
B2B telecommunication refers to electronic commerce, which is used while the exchange of products, services, and information between businesses, rather than between businesses and consumers (B2C). A B2B transaction is conducted between two companies, between wholesalers and online retailers. The B2B telecommunication is used for direct communications between businesses to transmit data, text, sound, voice, and video.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
North America was the largest region in the B2B telecommunication market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the b2b telecommunication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the B2B telecommunication market report are Comcast Corporation, AT&T Inc., Deutsche Telekom AG, Huawei Technologies Co. Ltd., T-Mobile US Inc., SoftBank Group Corp., Vodafone Group Plc, Cisco Systems Inc., KDDI Corporation, Telefonica S.A., BT Group plc, Nokia Corporation, Telefonaktiebolaget LM Ericsson, Korea Telecom Corporation, Telus Corporation, Saudi Telecom Company, CenturyLink Inc., Telstra Corporation Limited, Reliance Jio Infocomm Limited, Swisscom AG, PT Telekomunikasi Indonesia Tbk, Singapore Telecommunications Limited, China Telecom Corporation Limited, Amdocs Limited, PLDT Inc., Tata Communications Limited, Telecom Italia Sparkle S.p.A., Comarch SA, Sprint Corporation, NTT Communications Corporation
The b2b telecommunication market report table of contents includes:
1. Executive Summary
2. B2B Telecommunication Market Characteristics
3. B2B Telecommunication Market Trends And Strategies
4. B2B Telecommunication Market – Macro Economic Scenario
5. Global B2B Telecommunication Market Size and Growth
…
32. Global B2B Telecommunication Market Competitive Benchmarking
33. Global B2B Telecommunication Market Competitive Dashboard
34. Key Mergers And Acquisitions In The B2B Telecommunication Market
35. B2B Telecommunication Market Future Outlook and Potential Analysis
36. Appendix
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