Global Telecom Cloud Market: Overview
In the previous years, the telecom industry was negatively affected by the drop in the business of land lines. Cloud computing is regarded as an important source of expansion for the telecom sector which is witnessing sluggish growth in the conventional services. It helps the telecom operators to make optimum use of the networking resources that are underutilized and gain benefits from the existing business. Moreover, the rise in the trend of using connected devices has provided the telecom operators with opportunities in order to capitalize on the growth of cloud services as adopters and providers of the technology. The telecom operators have aligned themselves in the cloud value chain by leveraging network assets to improve cloud offerings, managing cloud connectivity, and advanced delivering of solutions and services that are cloud based.
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Global Telecom Cloud Market: Segmentation
The global telecom cloud market is segmented into the component, service model, application, vertical, end user, and regions. Based on the component, the global market is segregated into services and solutions. Depending on the service model, the market is categorized into software-as-a-service, infrastructure-as-a-service, platform-as-a-service, business continuity-as-a-service, and others. On the basis of application, the market is divided into traffic management, billing and provisioning, and others. Based on the end user segment, the market is fragmented into large enterprises and SMEs. There are many verticals where the telecom cloud is used which include healthcare, transportation, government, retail, BFSI, media and entertainment, and others. The geographical segmentation of the telecom cloud market includes Latin America, the Middle East and Africa, North America, Western Europe, Eastern Europe, and Asia Pacific.
Global Telecom Cloud Market: Growth Factors
Growing trends of the enterprises that is a shift towards the cloud infrastructure have enhanced the utilization of the telecom cloud services. Moreover, to add in some of the major drivers for telecom cloud market are factors such as the rising demand for the cloud services that are over the top and reduced operational and administration costs which are provided by the cloud infrastructure. Factors such as high risk of cyber threats and stringent regulations regarding the telecom may hamper the telecom cloud market growth.
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Global Telecom Cloud Market: Regional Analysis
North America and Western Europe regions dominate the telecom cloud market. The factors that contribute to this market growth are major prominent telecom companies that are based in these regions especially in the US and Canada, investments are being made in the data centers, and the large enterprises and SMEs are making huge investments in the cloud infrastructure owing to its increased benefits. The Asia-Pacific region is expected to develop at a significant pace when compared to other regions in the telecom cloud market and in the coming years, the telecom cloud market is going to develop considerably. Other regions such as the Middle East and Africa, Eastern Europe, and Latin America are expected to have a fair growth rate in the telecom cloud market.
Global Telecom Cloud Market: Competitive Players
Some of the key market players that are involved in the telecom cloud market include Verizon Communication, Inc., AT&T, Inc., and Vodafone Group Plc. There are many more influential players involved in the telecom cloud market.
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