Transparency Market Research delivers key insights on the global telecom enterprise services market. In terms of revenue, the global telecom enterprise services market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global telecom enterprise services market.
The demand for enterprise services is expected to surge in the upcoming years with the expansion of micro, small, and medium enterprises (MSMEs) across the world and increase in industrial activity globally. In addition, more investments in and economic growth of the APAC region, and increase in worldwide enterprise IT spending across verticals are further expected to drive the market during the forecast period. The report analyzes the global telecom enterprise services market and provides estimates in terms of revenue (US$ Bn) from 2018 to 2030.
Telecom Enterprise Services Market: Key Growth Drivers
The world is witnessing expansion of Micro, Small, and Medium Enterprises (MSMEs). Approximately 120 million formal MSMEs operate across the world, with over 89 million operating in emerging markets such as India, China, and the developing countries of Southeast Asia. Formal MSMEs are more common in high-income economies such as OECD, non-OECD countries, and the EU. The MSME density is increasing at a rapid pace in low and middle-income economies, especially in the Middle East, Latin America, Caribbean, South Asia and East Asia, and the Pacific regions. MSMEs play an important role in employment generation as well as in the GDP of an economy. They still employ more than one-third of the world’s labor force. MSMEs seek low-cost and efficient communication solutions with a focus on continuity of operations and processes, which, in turn, will trigger the growth of the telecom enterprise services market.
Moreover, there is extensive industrial activity that is driving telecom enterprise services. The advent of the IT & ITES industry across emerging economies has led to an increase in the overall industrial activity. Banking and IT & ITES are major sectors adopting telecom enterprise services and mobility solutions to improve the customer experience. This has led to immense opportunity for global operators to establish and engage in business with companies operating in these sectors. Bandwidth, both domestic and international, plays a crucial role in knowledge-based industries such as BPOs, call centers, and software exports.
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In the IT/ITeS industry, the rise in demand for enterprise connectivity solutions can be attributed to the need for high-speed connectivity, voice channels, and expansion of BPO/back-office companies, which has led to the high demand for IP and international private leased circuits. National e-governance initiatives such as unique identification/social security, measures for financial inclusion, and improving connectivity in rural areas are the key factors driving the adoption of telecom enterprise services.
Key Challenges Faced by Telecom Enterprise Services Market Players
Government rules and regulations may hinder the growth of the telecom enterprise services market, as telecommunications is a heavily regulated sector and telecom industry operators are highly sensitive to uncertainties, which are projected to undermine incentives to invest. Spectrum and spectrum auction is the most important factor of the sector, as mobile data traffic continues to increase in all geographies. Around 80% of operators believe that spectrum release and auction frameworks are likely to be leading regulatory issues over the next three years. Government rules and regulations for the telecom industry in emerging economies are highly scrutinized and stringent in nature. The Government of India has deployed strict regulations and SOPs to comply with, while auctioning spectrum due to recent scams in spectrum auction in the country. This also has an impeding effect on the decision-making procedure by respective governments when dealing in spectrum auction, thereby hampering the overall telecom enterprise services market in emerging economies.
Telecom Enterprise Services Market: Prominent Regions
The global telecom enterprise services market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America dominated the telecom enterprise services market in 2019, with majority revenue share and is expected to continue its dominance over the forecast period from 2018 to 2030. Within North America, the U.S and Canada are anticipated to drive the growth of market. This is due to higher adoption levels of advanced relevant technologies in the region, supported by healthy concentration of the master agents and carriers.
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The increasing need for cloud computing, data centers, and Gigabit connectivity solutions to support the entire IP infrastructure has significantly magnified the adoption of telecom enterprise services in the North America region. In addition, the need for reduction in costs and customized solutions for SMEs has prompted operators to introduce scalable solutions that would enable growth of the business. It is noteworthy that traditional telecommunication services such as voice-based solutions are expected to remain the largest contributor to the global telecom enterprise services market during the forecast period, while wireless/mobility and data/Internet service are expected to outperform the voice solution segment in terms of growth rate.
Moreover, Europe is expected to present lucrative growth avenues for the telecom enterprise services market during the first half of the forecast period. Market share of Asia Pacific in the telecom enterprise services market is anticipated to create expected opportunity valued at US$ 49.2 Bn over the forecast period. This is due to increasing adoption of telecom enterprise services, particularly in Australia, China, and Japan. The region is the leading manufacturing hub and exporter of IT and ITES products.
Asia Pacific is witnessing a surge in the number of startups providing web-based services for manufacturing firms operating in various other application sectors. A significant share of demand for telecom enterprise services solutions is expected to come from eCommerce, retail, and healthcare enterprises, apart from BFSI and IT industry. South America is expected to show substantial growth as majority of the economies there are recovering from recession and the market shows positive signs of growth.
The growth of the market in Middle East & Africa is anticipated to remain stagnant as of now. However, in the second half of the forecast period, the market in the Gulf countries is expected to see resurgence of growth, as the impact of economic reforms would start delivering results.
The report provides in-depth segment analysis of the global telecom enterprise services market, thereby providing valuable insights at macro as well as micro levels. The analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the telecom enterprise services market.
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