Overview and Scope
Telecom IT services refer to the services that aid telecom firms in developing a robust and high-performance communication network and implementing new business models. It is used to increase productivity in corporate core connectivity workloads and provide effective customer service.
Sizing and Forecast
The telecom it services market size has grown rapidly in recent years. It will grow from $1089.43 billion in 2023 to $1249.12 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to telecom network expansion, increasing data traffic, network security concerns, customer experience enhancement, globalization and market competition.
The telecom it services market size is expected to see rapid growth in the next few years. It will grow to $2192.64 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to 5g network rollout, edge computing adoption, iot and smart devices integration, cloud-based solutions, cybersecurity measures. Major trends in the forecast period include 5g network integration, iot and m2m connectivity, customer experience enhancement, automation and ai-driven operations, cloud integration and migration.
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Segmentation & Regional Insights
The telecom it services market covered in this report is segmented –
1) By Solution: CRM, Mobile Commerce, Enterprise Mobility, Network Management, Supply chain Management, OSS BSS, Other Solutions
2) By Deployment Type: Cloud-Based, On-Premise, Hybrid
3) By Organization Size: Small And Medium-Sized Businesses (SMBs), Large Enterprises
4) By Application: Commercial, Residential
Asia-Pacific was the largest region in the telecom IT services market in 2023 and is expected to be the fastest-growing region in the global telecom IT services market report forecast period. The regions covered in the telecom it services 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 increasing use of smartphone devices is expected to propel the growth of the telecom IT services market going forward. Smartphones are portable electronic gadgets enabling users to browse the internet, send and receive texts. Mobile technology allows users to access information, making services more flexible. Telecom IT service providers are concentrating on providing backend support and creating data-based offers; thus, the increasing use of smartphone devices will propel the market’s growth. For instance, in December 2021, according to the annual business report published by Samsung Electronics Co., Ltd., a South Korea-based electronics corporation, the global smartphone market has grown significantly to reach 1.36 billion units in 2021, from 1.30 billion units in 2020. Therefore, the increasing use of smartphone devices is driving the growth of the telecom IT services market.
Key Industry Players
Major companies operating in the telecom it services market report are Accenture PLC, Amdocs, ALE International SAS, Capgemini SE, Cognizant, Telefonaktiebolaget LM Ericsson, HP Inc., Huawei Technologies Co, The International Business Machines Corporation, Oracle Corporation, WTG Technologies Limited, X4 Solutions, Telarus Inc., Intellisys Communication Inc., Telecom Brokerage Inc., Reliance Industries Ltd., China Mobile Ltd., T-Mobile US Inc., Verizon Communications Inc., Comcast Corp, Deutsche Telekom AG, Nippon Telegraph and Telephone Corp, AT&T Inc., SoftBank Group Corp, Telefonica SA, Vodafone Group PLC, Orange SA, BT Group PLC, Telstra Corp Ltd., China Telecom Corp Ltd
The telecom it services market report table of contents includes:
1. Executive Summary
2. Telecom IT Services Market Characteristics
3. Telecom IT Services Market Trends And Strategies
4. Telecom IT Services Market – Macro Economic Scenario
5. Global Telecom IT Services Market Size and Growth
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31. Global Telecom IT Services Market Competitive Benchmarking
32. Global Telecom IT Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Telecom IT Services Market
34. Telecom IT Services Market Future Outlook and Potential Analysis
35. Appendix
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