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Global Telecom IT Services Market: Major Trends Reshaping the Future of the Industry
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the Telecom IT Services Industry Market Size Be by 2025?
The market size for telecom IT services has experienced swift expansion in the past few years. Projected growth indicates an increase from $1222.24 billion in 2024 to $1390.45 billion in 2025, with a compound annual growth rate (CAGR) of 13.8%. Factors contributing to this substantial growth during the historic period include expansion of the telecom network, a rise in data traffic, network security issues, improvement in customer experiences, globalization, and competitive market conditions.
What's the Long-Term Growth Forecast for the Telecom IT Services Market Size Through 2029?
The size of the telecom IT services market is projected to experience swift expansion in the coming years. The market is predicted to reach a value of $2307.53 billion by 2029, with a compound annual growth rate (CAGR) of 13.5%. Several factors, such as the deployment of 5G networks, the adoption of edge computing, IoT and smart devices integration, cloud-based solutions, and cybersecurity procedures contribute to this growth during the forecast period. The key trends expected during this period encompass 5G network incorporation, IoT and M2M connections, enhancing the customer experience, automation and operations driven by AI,,and migration and incorporation of the cloud.
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What Are the Key Growth Drivers Fueling the Telecom IT Services Market Expansion?
The surge in smartphone usage is predicted to stimulate the expansion of the telecom IT services market in the future. Smartphones, being portable electronic devices, give users the ability to surf the web, send and receive messages. Mobile technology enables users to acquire information, thus making services more adaptable. Telecom IT service providers are focusing on delivering backend support and developing data-driven offers, subsequently, the augmenting use of smartphones will accelerate the market growth. For example, according to Demandsage, a US-based reporting platform that capitalizes on data science for providing deep insights; as of 2022, the global smartphone users were approximately 6.6 billion. The user count witnessed an increase of 4.2% from the preceding year. Hence, the rise in smartphone usage is fuelling the expansion of the telecom IT services market.
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What Are the Key Trends Driving Telecom IT Services Market Growth?
The surge in technological innovations is a distinctive trend burgeoning in the telecom IT services market. Large corporations operating in this market are implementing novel technologies to preserve their market standing. To illustrate, HCL Technologies Limited, an IT services and consulting establishment based in India, rolled out two innovative technology suites in February 2023: CloudSMART Modernization Experience and Site Reliability Engineering (SRE). These were designed to hasten the modernization of telecom networks utilizing Cloud Native platforms. The avant-garde CloudSMART Modernization Experience by HCLTech for telecom gives room for the employment of open-source and commercially available IT vendor solutions. Consequently, telecom service providers can craft custom solution blends using top-notch platforms from different network solution providers. HCLTech's SRE service for Cloud Native telecom offers a full spectrum of practices required to successfully run large-scale telecom operations on prevailing Cloud Native platforms. It empowers telecom service providers to augment and uphold top-tier reliability levels by integrating contemporary SRE practices into their operations, thereby increasing efficiencies and reducing dependency on traditional telecom network providers.
How Is the Telecom IT Services Market Segmented?
The telecom it servicesmarket covered in this report is segmented -
1) By Solution: CRM, Mobile Commerce, Enterprise Mobility, Network Management, Supply chain Management, OSS BSS, Other Solutions
2) By Deployment Type: Cloud-Based, On-Premise, Hybrid
3) By Organization Size: Small And Medium-Sized Businesses (SMBs), Large Enterprises
4) By Application: Commercial, Residential
Subsegments:
1) By CRM (Customer Relationship Management): Sales Automation, Customer Service And Support, Marketing Automation
2) By Mobile Commerce: Mobile Payment Solutions, Mobile Wallets, Mobile Shopping Platforms
3) By Enterprise Mobility: Mobile Device Management (MDM), Mobile Application Management (MAM), Bring Your Own Device (BYOD) Solutions
4) By Network Management: Network Monitoring, Network Security Management, Network Performance Optimization
5) By Supply Chain Management: Inventory Management, Order Management, Logistics Management
6) By OSS BSS (Operations Support Systems And Business Support Systems): Billing And Revenue Management, Service Assurance, Network Inventory Management
7) By Other Solutions: Cloud Services, Data Analytics, Cybersecurity Solutions
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Which Companies Are Leading the Charge in Telecom IT Services Market Innovation?
Major companies operating in the telecom IT services market include plc, Amdocs, ALE International SAS, Capgemini SE, Cognizant, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co, The International Business Machines Corporation, Oracle Corporation, WTG Technologies Limited, X4 Solutions, Telarus Inc., Intellisys Communication Inc, Telecom Brokerage Inc, Reliance Industries Ltd, China Mobile Ltd, T-Mobile US Inc, Verizon Communications Inc, Comcast Corp, Deutsche Telekom AG, Nippon Telegraph and Telephone Corp, AT&T Inc, SoftBank Group Corp, Telefonica SA, Vodafone Group Plc, Orange SA, BT Group Plc, Telstra Corp Ltd, China Telecom Corp Ltd
Which Regions Are Leading the Global Telecom IT Services Market in Revenue?
Asia-Pacific was the largest region in the telecom IT services market in 2024and is expected to be the fastest-growing region in the global telecom IT services market report forecast period. The regions covered in the telecom IT services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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