Integration Of IoT In Data Centers To Minimize Downtime In Networks Creates New Avenues For Growth In Telecommunications Market

According to the market analysis of global telecommunication market by Transparency Market Research, the industry was evaluated at US$ 2 trillion in the year of 2019. The research authors at the Transparency Market Research predict that the global telecommunication market will witness a likely CAGR i.e. 5% over the forecast period of 2020 to 2030. They also project that the global telecommunication market will finally be evaluated at US$ 2.5 trillion at the end of the forecast period in 2030. Integration of internet of things or IoT technologies in order to monitor data centers for minimizing the downtime in the networks is anticipated to create new avenues for development in the global telecommunication market in coming years.

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Segments in the global telecommunication market by component include hardware, software or platform, services, wired services, among wireless services, among others. Based on the component, hardware segment is expected to record a steady CAGR in the global telecommunication market over the next few years. Hardware segment in the global telecommunication market can be further classified into broadcast communication equipment, consumer premise equipment, and telecoms infrastructure equipment. Software or platform segment in the global telecommunication market includes sub-segments such as cloud and on premise software. Services segment in the global telecommunication market includes sub-segment called telecommunication services or TSP. Wireless services segment in the global telecommunication market can be further classified into sub-segments such as installation and integration services, managed services, and repair and maintenance services. Among these, services segment is anticipated to witness significant rise in the growth rate in global telecommunication market over the forecast period.

Segments in the global telecommunication market by enterprise size are large enterprises and small and medium enterprises. In recent years, large enterprises segment in the global telecommunication market accounted for the larger share in the industry. However, small and medium enterprises segment in the global telecommunication market is set to expand at a significantly high CAGR over the forecast period of 2020 to 2030. Key end use industries that benefit from products and services offered by the players and developers in the global telecommunication market include IT and ITES, Healthcare and Pharmaceutical, Hospitality, Transportation and Logistics, Utilities, retail and e-commerce, aerospace, media and entertainment, automotive and manufacturing, oil and gas, and education, among others.

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Major regions evaluated in the business intelligence report on the global telecommunication market include North America (including Canada, the United States, and rest of the North America), Europe (including the United kingdom, Germany, France, and rest of the Europe), Asia Pacific (including China, India, Japan, Australia, and rest of the Asia Pacific), South America (including Brazil and rest of the South America), and Middle East and Africa (including South Africa, United Arab Emirates, Saudi Arabia, and rest of the Middle East and Africa). Asia Pacific region is likely to remain at the top in the global telecommunication market over the forecast period in terms of global demand.

Few of the most prominent players operating within the global telecommunication market include AT&T, Inc., Cisco Systems, Inc., Huawei Technologies Co., Orange S. A., Verizon Communications, Inc., West Corporation or Intrado Corporation, 8x8, Inc., BT Group PLC, Deutsche Telekom AG, Nokia Corporation, The Nippon Telegraph and Telephone (NTT) Corporation, and Vodafone Group PLC, among others. Service providers and other players in the global telecommunication market are focused on introducing enhanced telecommunication systems and integrating latest capabilities in telecommunications platforms in order to allow usage of their telecomm services across the company borders in order to meet the requirement for managing the communications between multiple employees working at different locations. Moreover, players in the global telecommunication market are also engaged in acquisitions as well as partnerships to gain a competitive edge in the industry.

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