Telecom Cloud Market to Hit US$ 55.29 Bn By 2026: Transparency Market Research

According to a new market report entitled Telecom Cloud Market -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026, published by Transparency Market Research, the global telecom cloud market is expected to reach US$ 55.29 Bn by 2026, expanding at a CAGR of 18.2% from 2018 to 2026. According to the report, the global market is expected to continue to be influenced by a range of macroeconomic and industry-specific factors. North Americais anticipated to continue to be at the forefront of global demand, with the market in the region expanding at a CAGR of above 18.1% during the forecast period. Technical advancements, increased digitization, and presence of a large number of cloud computing solutions and services providersare anticipated to drive the telecom cloud market in North America.

Growing Significance of the BFSI Industry and Increasing use of Cloud Infrastructure across the World are driving the Global Telecom Cloud Market.

Increase in the adoption of cloud infrastructure in different organizations and IT modernization is expected to boost the telecom cloud market in the coming years. Moreover, the increasing trend of connected devices among users has offered telecom operators an opportunity to capitalize on the growth of cloud services as providers as well as adopters of the technology. Furthermore, increased presence of a number of telecom cloud solution providers and post-sale service providers across regions has led to a subsequent rise in demand for telecom cloud systems. This is likely to propel the growth of the market during the forecast period.

In terms of telecom cloud systems, both North America and Europe are mature regions of the market, owing to high awareness about telecom cloud among users and technological developments. However, the market in Asia Pacific is expected to expand at a robust pace during the forecast period. Rise in penetration of technology as well as significant investments in the optimal utilization of networking resource across countries such as the U.S., U.K., Germany, France, China, India, and Brazil are anticipated to offer lucrative opportunities for telecom cloud providers in the near future.

Based on cloud platform, the Software-as-a-Service (SaaS) segment accounted for a major share of the global market in 2017, followed by the Business Continuity as a Service (BCaaS) segment. As per the research study,the Infrastructure-as-a-Service (IaaS) segment is projected to expand at a rapid pace between 2018 and 2026 and is expected to hold a prominent market share globally by the end of the forecast period. This is because IaaS helps in management and monitoring of remote data center infrastructure. Applications of this market segment are billing & provisioning, traffic management and others. – Globe NewsWire