Artificial Intelligence
Telecom Cloud Global Market Report 2023
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New York, April 05, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Telecom Cloud Global Market Report 2023” – https://www.reportlinker.com/p06319486/?utm_source=GNW
, Saudi Telecom Company, Rogers Communications Inc., and T-Mobile International AG.
The global telecom cloud market grew from $34.63 billion in 2022 to $41.91 billion in 2023 at a compound annual growth rate (CAGR) of 21.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The telecom cloud market is expected to grow to $85.11 billion in 2027 at a CAGR of 19.4%.
The telecom cloud market includes revenues earned by entities providing engineering infrastructure sustainability talent cloud, infrastructure management services, intelligent engineering automation, intelligent process automation, knowledge process outsourcing.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The telecom cloud refers to a software-defined, highly robust cloud architecture that enables telecommunication companies to launch services quickly, respond to changes in demand more rapidly, and centrally manage their resources more efficiently.
North America was the largest region in the telecom market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in telecom cloud market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of telecom cloud include public cloud, private cloud, and hybrid cloud.The hybrid cloud refers to a computing, storage, and services system that combines on-premises infrastructure, private cloud services, and public cloud services.
The computing services offers for these cloud services are Infrastructure as A Service (IaaS), Platform as A Service (PaaS), and Software as A Service (SaaS).SMEs, and large enterprises adopt the telecom cloud for various applications including data storage, achieving, computing, enterprise application, and others.
The end-user sectors of the telecom cloud services are BFSI, retail, manufacturing, transportation and distribution, healthcare, government, media and entertainment, and others.
Increasing demand for work-from-home (WFH) mechanisms is a significant driving factor for the telecom cloud market.The COVID-19 pandemic has led to the adoption of work-from-home mechanism.
Due to the lockdown, organizations had to close their offices for a long time, leading people to work from home.The telecom cloud makes it possible to deploy workers outside the traditional office environment.
According to the Organisation for Economic Co-operation and Development, in 2020, 47% in Australia, France, and the UK worked from home during lockdowns.In Japan, where there was no countrywide lockdown, the work from home rate climbed from 10% to 28% between December 2019 and May 2020.
Thus, increase in the adoption of work from home is expected to lead an increase in demand for telecom cloud solutions and services.
Technology innovations and advancements is a key trend gaining popularity in the telecom cloud market.Many companies operating in the telecom cloud are developing technologically advanced solutions with improved features.
Artificial Intelligence-powered automation is one such advancement in this market.Leading communication service providers (CSP) are utilizing or intend to employ artificial intelligence (AI) to automate self-diagnostics and problem identification.
For instance, in 2021, IBM, launched Cloud Pak for Network Automation, a telco cloud platform driven by AI that allows network operations automation, allowing CSPs to modernize their networks, transition to zero-touch operations, save OPEX, and provide services quicker.
In May 2021, Google Cloud, a US-based computer application platform that allows to create, deploy, and scale apps, websites, and services on Google’s infrastructure acquired MobiledgeX for an undisclosed amount.Through this acquisition, Google will assist telecom operators in building their own edge clouds and developers in adding value to telecommunication services.
MobiledgeX is a US-based edge computing company.
The countries covered in the telecom cloud market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The telecom cloud market research report is one of a series of new reports that provides telecom cloud market statistics, including Telecom cloud industry global market size, regional shares, competitors with a telecom cloud market share, detailed telecom cloud market segments, market trends and opportunities, and any further data you may need to thrive in the telecom cloud industry. This telecom cloud market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06319486/?utm_source=GNW
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