The telecom operations management market size is expected to grow by USD 24 billion during 2021-2026, at a CAGR of 6.73% during the forecast period, according to Technavio.
Technavio categorizes the global telecom operations management market as a part of the global application software market within the global Information Technology market. External factors influencing the parent market’s growth potential in the coming years have been thoroughly investigated in the research analysis.
Although challenges like rising data security concerns could restrain market expansion, the demand for scalable telecom management solutions is significantly driving the telecom operations management industry’s growth.
The rapid advances in technologies driving demand for scalable telecom management solutions, high internet penetration with increasing online content, and growing demand for telecom operations from SMEs will offer immense growth opportunities.
However, increasing data security issues, lack of interoperability and the increasing tendency of switching vendors will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments, the report says.