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Telecom Service Assurance Market Size
Telecom Service Assurance Market size exceeded USD 5 billion in 2021 and is estimated to grow at over 5% CAGR between 2022 and 2028. Growing number of mobile subscribers worldwide is boosting the industry growth. Moreover, the increasing adoption of IoT technology is anticipated to support market demand. For instance, as per the Ericsson Mobility Report, 40% cellular IoT connections are expected to overtake broadband IoT with 4G connectivity by 2027
The global COVID-19 restrictions resulted in social distancing and increased the demand for high internet connectivity to avoid any potential exposure to coronavirus. This has created more opportunities for market players to develop advanced telecom service assurance solutions. Communication service providers in the telecom industry have extensively used telecom service assurance tools to provide cost-effective and high-quality digital services during the pandemic
How big is the telecom service assurance market?
The market size of telecom service assurance crossed USD 5 billion in 2021 and is projected to witness 5% gains from 2022 to 2028, says this GMI report.
How much is North America telecom service assurance industry worth?
North America industry is slated to cross USD 3 billion by 2028 driven by the rising investments in 5G technology and across the telecom sector in the region.
What aspects will drive telecom service assurance demand in Canada?
In Canada, the market revenue from fault management accounted for around 30% of the industry share in 2021 and will grow with the surging demand for improving the service quality of a network.
Why is the telecom service assurance sector growing in China?
In China, the market value from cloud model is estimated to rise at a CAGR of 10% through 2028 owing to the increasing trend of transformation of communication services.