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Telecom cloud market worth $32.5 billion by 2027

The global Telecom Cloud Market size is projected to grow from USD 11.5 billion in 2022 to USD 32.5 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 23.1 % during the forecast period, according to a new report by Markets and Markets.

Public cloud refers to computing that shares resources, such as storage, computing, and networking, with external entities outside the organization, depending on the demand. The public cloud deployment model offers various benefits to enterprises. These are scalability, reliability, flexibility, and remote location access.

Large enterprise segment is set to emerge as the larger market during the forecast period
A large enterprise is a business entity employing over 5,000 people. The adoption of telecom cloud in large enterprises is high, which is expected to continue during the forecast period. Large enterprises have complex product development processes and invest heavily in business operations. This is one of the major reasons for adopting cloud-based solutions and services, as they provide a cost-effective approach to managing these functions. This can be achieved due to the availability of substantial assets, global presence, strong market share, and effective business strategies.

NFVI is expected to have a higher growth rate during the forecast period
Organizations are embracing NFV technologies to improve network agility, scale network infrastructure, and lower operational cost. NFV technologies support traditional and next-generation networks, which, in turn, allow network administrators to run networks effectively. NFV technology enables enterprises and service providers to embrace emerging technologies, such as hybrid cloud and edge computing. NFV has become popular in the last couple of years.

Asia Pacific is projected to grow at the fastest growth rate during the forecast period
In this region, Japan, China, Australia, and India are the key nations with the fastest growth rates. The growing economies, strong growth, and widespread use of mobile and the internet are all present in Asia Pacific. Technological advances and required rules requiring the use of best-in-class standards and technology are predicted to cause the growth to soar.

CT Bureau

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