B2B Telecommunication Market Size was valued at USD 61.56 billion in 2021. The B2B Telecommunication market industry is projected to grow from USD 73.35 billion in 2022 to USD 223.45 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.9% during the forecast period (2022 - 2030). IoT is gaining momentum for being cost-efficient. Besides, being cost-efficient, it also provides other advantages such as machine to machine (M2M) communication and wireless transactions to the users. In addition, the service of data storage and the reachability of the telecom network in distant zones is additionally propelling the market expansion. With the adoption of B2B telecommunication, the enterprises avoid their travel expenses by performing face-to-face meetings through teleconference. Furthermore, fast industrialization and urbanization are enhancing the demand further. In addition, increased volumes of system data, volumes of text, video, and voice are estimated to advance the B2B telecommunication market. Furthermore, the increment of customized products and services portfolio is estimated to be potential factors posing opportunities of expansion during the review period.
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Key Players: –
- Comarch SA. (Poland)
- Deutsche Telekom AG (Germany)
- NTT Communications (Japan)
- Verizon Communications Inc. (U.S.).
- Vodafone Group PLC (The U.K)
- Orange S.A. (France)
- AT&T Inc. (U.S.)
- Cisco Systems
- Amdocs Ltd (U.S.)
Novel coronavirus has B2B Telecommunication Market to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The B2B Telecommunication Market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. B2B Telecommunication Market ’s fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site.
In a nutshell, COVID-19 impact on managed services has been fruitful, with the market growth enhanced than before. Given the prevalent lockdown situation, managed services vendors are now investing heavily in remote-centric worker solutions, which can make the market highly resilient in the coming years, even as the world is currently rushing to achieve a COVID-19 breakthrough.
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Segment Overview: Based on Solution:
- WAN Solution
- Voice over IP (VoIP)
- M2M Communication
- Cloud Services
- Unified Communication and Collaboration
Based on Enterprise Size:
- Large Enterprise
- Small and Medium Enterprises (SME’s)
Based on Industry Vertical:
- Media & Entertainment
- Energy and Utilities
- Transportation and Logistics
- Banking, Financial Services and Insurance (BFSI)
As per the report, the global market is estimated to expand significantly during the review period. The experts have revealed that the global market is likely to be dominated by North America. North America is anticipated to procure the maximum market share during the assessment period. The region is blooming due to the fast adoption of cloud and VoIP services. On the other side, the Asia-Pacific region is projected to grow at the swiftest pace during the review period. The presence of developing countries like India, China, and South Korea is projected to play a crucial role during the review period. The emerging countries are investing massively in the media and entertain sector, which is predicted to bloom the market exponentially during the assessment period.
However, the market dynamics are estimated to change significantly, owing to the spread of coronavirus. The data experts at MRFR are analysing the market and the impact of coronavirus on the global B2B telecommunication market. The impact of COVID-19 is projected to bring a substantial impact on the global economy.
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