Telecom IT Services Global Market Report 2024

The telecom it services market has grown rapidly in recent years. It will grow from $1089.43 billion in 2023 to $1249.12 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The expansion of the telecom network, rising data traffic, concerns about network security, efforts to enhance customer experience, globalization, and market competition are factors contributing to the growth observed in the historic period.

The telecom it services market is expected to see rapid growth in the next few years. It will grow to $2192.64 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The anticipated growth in the forecast period is linked to the rollout of 5G networks, the adoption of edge computing, integration of IoT and smart devices, implementation of cloud-based solutions, and enhanced cybersecurity measures. Key trends expected in the forecast period encompass the integration of 5G networks, connectivity for IoT and M2M, improvements in customer experience, operations driven by automation and AI, as well as the integration and migration to cloud-based systems.

The anticipated growth in the telecom IT services market is expected to be driven by the increasing utilization of smartphone devices. Smartphones, as portable electronic gadgets, empower users with internet browsing capabilities and the ability to send and receive texts. The flexibility provided by mobile technology allows users to access information, prompting telecom IT service providers to focus on delivering backend support and data-based offerings. For example, Samsung Electronics Co., Ltd., a South Korea-based electronics corporation, reported in its annual business report in December 2021 that the global smartphone market expanded significantly, reaching 1.36 billion units in 2021, up from 1.30 billion units in 2020. Hence, the growing use of smartphone devices is a key factor propelling the telecom IT services market's growth.

The upward trajectory of the telecom IT services market is further fueled by the increasing prominence of cloud-based solutions. Cloud-based solutions encompass programs, storage spaces, on-demand services, computer networks, and other offerings accessible through a shared cloud computing framework provided by another provider, utilizing an internet connection. In the telecom industry, these solutions leverage IT services to achieve scalable infrastructure, improved data storage, and efficient service delivery, facilitating cost-effective network management and innovative service offerings. For instance, according to the Australian Bureau of Statistics in June 2023, 85% of firms in Australia reported employing information and communication technologies (ICTs) for the year ending June 30, 2022, up from 69% in the year ending June 30, 2020, with 59% of these ICTs related to cloud computing. Consequently, the rising prevalence of cloud-based solutions is a significant driver of growth in the telecom IT services market.

Technological advancements stand out as prominent trends gaining traction in the telecom IT services market. Key companies in this sector are embracing new technologies as a strategic move to maintain their market positions. For example, in February 2023, HCL Technologies Limited, an India-based information technology services and consulting company, introduced two innovative technology suites CloudSMART Modernization Experience and Site Reliability Engineering (SRE). These offerings aim to accelerate the modernization of telecom networks through the utilization of Cloud Native platforms. HCLTech's CloudSMART Modernization Experience leverages open-source and off-the-shelf IT vendor solutions, enabling telecom service providers to create customized solutions by integrating the best platforms from various network solution vendors. Additionally, HCLTech's SRE enablement for Cloud Native telecom encompasses a comprehensive set of practices necessary for successful large-scale telecom operations on current Cloud Native platforms. This integration empowers telecom service providers to enhance and maintain industry-leading reliability levels by incorporating modern SRE practices into their operations, resulting in increased efficiencies and reduced reliance on traditional telecom network providers.

Prominent players in the telecom IT services market are directing their focus towards technological advancements, particularly in cloud platforms, to address the increasing demand for scalable and agile network infrastructure solutions. A case in point is Airtel CCaaS (Contact Center as a Service), a cloud-based platform by Bharti Airtel, an India-based telecom company. Launched in October 2023, Airtel CCaaS provides businesses with comprehensive tools for efficient multi-channel customer interactions and support. This innovative integrated cloud platform streamlines contact center operations by merging voice, cloud, and software functionalities into a unified solution. This not only enhances customer interaction but also reduces investment costs associated with disparate vendor contracts historically used in contact center management.

In February 2023, Waterfield Technologies Inc., a US-based customer engagement solutions provider, acquired Dice Communications for an undisclosed amount. This acquisition is poised to expand Waterfield Tech's solution portfolio with complementary services, adding new, value-added services for existing customers. The overall impact is expected to enhance contact center efficiencies and bring about favorable financial outcomes. Dice Communications, a US-based IT and telecom solution company, specializes in providing networking, security infrastructure, wireless LAN infrastructure, Disaster Recovery as a Service, and IT-managed services.

Major companies operating in the telecom it services market report are Accenture plc, Amdocs, ALE International SAS, Capgemini SE, Cognizant, Telefonaktiebolaget LM Ericsson, HP Inc., 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.

Asia-Pacific was the largest region in the telecom IT services market in 2023 and 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. The countries covered in the telecom it services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The key solutions provided by telecom IT services include CRM, mobile commerce, enterprise mobility, network management, supply chain management, OSS BSS, and other related services. CRM, or customer relationship management, is a user-friendly tool empowering customer service agents to forge distinctive and personalized customer relationships. These services are deployed through various methods, including cloud-based, on-premise, and hybrid, catering to both small and medium-sized businesses (SMBs) and large enterprises. The applications span commercial and residential domains.

The telecom IT services market research report provides telecom IT services market statistics, including telecom IT services industry global market size, regional shares, competitors with telecom IT services market share, detailed telecom IT services market segments, market trends, and opportunities, and any further data you may need to thrive in the telecom IT services industry. This telecom IT services 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.

The telecom IT services market includes revenue earned by entities by providing infrastructure management solutions, big data analytics, customer experience management, and transfer management. 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 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.


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