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Telecom Cloud Market Size

Report ID: GMI6066
Published Date: Jul 2024
Report Format: PDF

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Telecom Cloud Market Size

Telecom Cloud Market was valued at USD 27.1 billion in 2023 and is anticipated to grow at a CAGR over 19.5% between 2024 and 2032. The proliferation of smartphones, IoT devices, and bandwidth-intensive applications is leading to data traffic growth, significantly boosting the telecom cloud industry. As users increasingly demand faster & more reliable connectivity, telecom operators need to leverage cloud technologies to efficiently manage and scale their networks, ensuring seamless connectivity and a superior user experience.

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Telecom operators face intense competition and pressure to optimize costs while delivering superior services. Telecom cloud solutions enable operators to reduce capital expenditures by replacing dedicated hardware with virtualized network functions running on commercial off-the-shelf hardware. Cloud technologies also facilitate automation, orchestration & self-service capabilities, leading to streamlined operations, improved efficiency, and reduced operational costs.

Telecom Cloud Market Report Attributes
Report Attribute	Details
Base Year:	2023
Telecom Cloud Market Size in 2023:	USD 27.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	19.6%
2032 Value Projection:	USD 134 Billion
Historical Data for:	2018 – 2023
No. of Pages:	282
Tables, Charts & Figures:	344
Segments covered:	Component, Service Model, Deployment Model, Organization Size, Application, and Region
Growth Drivers:	Increasing data traffic and demand for high-speed connectivity Rising adoption of 5G networks Propelling demand for operational efficient solutions SME inclined toward cost-efficient cloud services Government initiatives to support digitalization
Pitfalls & Challenges:	Security and privacy risks Network reliability and service disruptions

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Engaging with cloud service providers can lead to vendor lock-ins, where an operator becomes dependent on a specific provider's technologies and services. This dependency can limit flexibility and hinder the operator’s ability to switch providers or integrate with other systems, thereby limiting the telecom cloud market growth. Interoperability challenges can also arise when integrating different cloud platforms or legacy systems. Telecom operators should carefully select their vendors, evaluate interoperability capabilities, and adopt open standards & APIs to mitigate these challenges.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Telecom cloud industry size was USD 27.1 billion in 2023 and will record over 19.5% CAGR between 2024 and 2032 due to the rising proliferation of smartphones, IoT devices, and bandwidth-intensive applications worldwide.

The service component segment held over 35% of the telecom cloud industry share in 2023 driven by the growing complexity of telecom cloud environments and the higher demand for professional and managed services.

North America telecom cloud industry share is estimated to witness 18% CAGR from 2024-2032 owing to the well-established telecommunications operators and service providers in the region.

AWS, Cisco, Ericsson, Fortinet, Google, Huawei Technologies Co., Ltd., IBM Corporation, Juniper Networks Inc., Microsoft Corporation, Nokia, Oracle Corporation, Orange, Salesforce, Verizon Communication, and VMWare are some key telecom cloud companies.