DUBLIN–(BUSINESS WIRE)–The “Telecom Cloud Market by Type (Public, Private, and Hybrid), Service (Colocation, Network, and Management Services), Application, Cloud Computing Service (SaaS, PaaS, and IaaS), Organization Size, End User, and Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global telecom cloud market size is expected to grow from USD 19.8 Billion in 2021 to USD 52.3 Billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.4% during the forecast period.
Data stored on a public cloud platform is generally regarded as safe from most hazards. It helps organizations meet their demands for scalability and also provides a pay-per-usage pricing strategy and ease of deployment.
The public cloud is typically designed with built-in redundancies to prevent data loss. Service providers may store replicated files across several data centers to ensure that disaster recovery is smooth and fast.
The management Service segment is expected to grow at the highest CAGR during the forecast period
The management service segment is expected to grow at a higher CAGR with telecom cloud solution vendors enabling organizations to centralize, manage, and deliver information in a secure way. Data is increasingly seen as a corporate asset that can be used to make more informed business decisions, improved marketing campaigns, optimized business operations, and reduced costs, all with the goal of increasing revenues and profits. Management services are helping end users, such as retail, healthcare industries, and financials firms, by making them more operationally efficient and utilizing their data for better decision making via artificial intelligence and analytics.
Banking, financial services and insurance vertical is expected to have a larger size during the forecast period
The banking, financial services and insurance vertical deals with the need to reduce non-core functions and has started outsourcing them. Outsourcing helps banks minimize costs and maximize efficiency. This results in the requirement for channelized content insights and accurate banking information that can be consolidated through telecom cloud solutions. The collaborations enable banking and financial service providers to offer enhanced facilities by providing them with improved communication options. The solution enables face-to-face interactions between customer and employees to discuss various banking options, located anywhere in the world. Telecom cloud technology also helps with customer experience enhancement. Currently, the telecom cloud market is witnessing increased growth opportunities in the banking, financial services and insurance vertical. This growth can be attributed to the increasing requirement for telecom cloud to enhance staff training, banking education, and customer communication.
Asia Pacific (APAC) region to record the highest growing region in the telecom cloud market
APAC has several growing economies, such as China, Australia, India, and Japan, which are expected to register high growth in the telecom cloud market. These countries have always supported and promoted industrial and technological growth. In addition, they possess a developed technological infrastructure, which is promoting the adoption of Telecom cloud solutions across all industry verticals. APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.
By Company Type: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25% By Designation: C-level – 35%, Directors – 40%, and Others – 25% By Region: North America – 40%, Europe – 20%, APAC – 30%, ROW – 10% This research study outlines the market potential, market dynamics, and major vendors operating in the Telecom cloud market. This research report also studies the strategic alliances and lucrative acquisitions among various global and local players in the telecom cloud ecosystem.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Telecom Cloud Market, by Type
7 Telecom Cloud Market, by Service
8 Telecom Cloud Market, by Application
9 Telecom Cloud Market, by Cloud Computing Service
10 Telecom Cloud Market, by Organization Size
11 Telecom Cloud Market, by End-user
12 Telecom Cloud Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Adjacent/Related Market
16 Appendix
Companies Mentioned
Alibaba Cloud AT&T AWS BT Group China Telecom Dell Deutsche Telekom Etisalat Google IBM Lumen Technologies Microsoft NTT Communications Oracle Orange Business Services Red Hat Rogers Singapore Telecommunications Limited SK Telecom STC Telefonica Telstra Verizon Vodafone For more information about this report visit https://www.researchandmarkets.com/r/zbgp6s