Global Telecom IT Services Market Scope Report

Global Telecom IT Services Market Highlights Over 2023 - 2033

The global telecom IT services market is estimated to garner a revenue of USD 30000.0 Billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 1830.0 Billion in the year 2022. The growth of the market can be attributed to the advancement of technologies such as the rising adoption of 5G among people. As per the Federal Communications Commission, USD 9 Billion fund has been set up for deploying 5G wireless mobile services in rural America in October 2020.

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Telecommunication systems are managed and recognized for providing services such as internet, and phones. This communication system is critical for businesses because it allows them to connect with their customers more efficiently, thus improving customer service standards. Employing telecom IT services has a number of advantages, including reduced travel time and costs, as well as employee flexibility in work hours and locations. Therefore, the growing adoption of mobile devices is expected to boost the growth of the global telecom IT services market. More than 6 Billion number of smartphone users are present in the year 2022.

Global Telecom IT Services Market: Growth Drivers and Challenges

Growth Drivers

• Rising Adoption of Cloud – Based Technology– Organizations around the world wants better cloud application services that can be provided by the telecom service providers through outsourcing their infrastructure. Hence, it is anticipated to surge the growth of the global telecom IT services market. For instance, there are more than 40 per cent of the Europe enterprises used cloud computing in the year 2021.

• Increasing Internet Users– As per the World Bank, there has been an increase in the percentage of individuals using the internet from 40 per cent in 2015 to 60 per cent in 2020.

• Increase in the Data Volume – The total number of data created, copied, and consumed across the globe accounted for more than 60 zettabytes in the year 2020

• Surging Digital Transformation – In the year 2020, the spending on digital transformation services and technologies accounted to more than USD 1. 00 Trillion.

Challenges

• High Cost for the Installation of Infrastructure

• Strict Regulations by Regulatory Body

• Threat to Privacy

The global telecom IT services market is segmented and analyzed for demand and supply by organization size into small & medium organization, and large organization. Out of these, the small & medium organization segment is anticipated to hold the largest share over the forecast period owing to the rising demand for reducing management enterprise structure costs, followed by an increasing number of small & medium enterprises. According to the Office of the United States Trade Representative, approximately 28 million small and medium-sized businesses in the United States account for roughly two-thirds of new private jobs.

Global Telecom IT Services Market Regional Synopsis

Regionally, the global telecom IT services market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 on the back of rising 5G subscribers, increasing smartphone users, and surging e-commerce platforms. For instance, there were more than 1 Billion mobile subscribers in the year 2021 in India.

Market Segmentation

Our in-depth analysis of the global telecom IT services market includes the following segments:

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Key Companies Dominating the Global Telecom IT Services Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global telecom IT services market that are included in our report are IBM Corporation, Telefonaktiebolaget LM Ericsson, Cisco Systems, Inc., Oracle Corporation, Accenture plc, Hewlett Packard Enterprise Development LP, Capgemini SE, Huawei Technologies Co., Ltd., Microsoft Corporation, AT & T Intellectual Property, and others.

Global Telecom IT Services Market: Latest Developments

• November, 2020: IBM Corporation announced the introduction of IBM cloud for telecommunications with more than 35 partners committed to join IBM’s ecosystem and help to drive business transformation.

• November, 2018: Oracle Corporation has been selected by UNIFI communications for securing communication services.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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