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Enterprise Telecom Services Market Trends

Report ID: GMI5966
Published Date: Jun 2023
Report Format: PDF

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Enterprise Telecom Services Market Trends

Digitalization has proven to be effective in the global expansion of enterprise telecom services. It enables service providers to provide dependable & faster connectivity solutions to customers. This includes the deployment of advanced networks such as 5G, which offer faster data speeds, lower latency, and improved connectivity for mission-critical applications. The adoption of IoT & Machine-to-Machine (M2M) connectivity solutions is also being driven by digitization.

These solutions enable businesses to connect & control their devices remotely, thereby improving operational efficiency and lowering costs. These benefits are contributing to market growth. The growing adoption of cloud-based telecommunications services, such as Unified Communications As a Service (UCaaS) and Contact Centre As a Service (CCaaS), is also a key factor driving segment growth.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of enterprise telecom services was worth USD 848.2 billion in 2022 and is set to record over 3.5% CAGR from 2023 to 2032, due to the growing investments in 5G infrastructure rollout driven by the rising preference for next-generation communication technologies

The large enterprise segment recorded 60% share of the market in 2022, owing to the rising need for constantly updating the offerings and improving the work environment

The IT & ITes application segment is anticipated to witness over 1% CAGR during 2023 to 2032, attributed to the rising dependency on robust and efficient communication infrastructure for supporting operations.

Asia Pacific recorded more than 35% of the enterprise telecom services industry share in 2022 driven by the rising deployment of 5G networks across the region.