New York, July 20, 2022 (GLOBE NEWSWIRE) -- In 2018, there were about 5 billion smartphone users whereas in 2022 the number got raised to more than 6.5 billion smartphone users. China was known to have the highest volume of smartphone users, with over 900 million users. In addition to that, there were nearly 11 billion IoT cellular connections present globally among 8 billion people.
The “Global Telecom Managed Services Market” analysis, report released by Kenneth Research, includes a review of market dynamics including growth drivers, restraint factors, current industry trends, and market potential opportunities in the coming years. The impact of COVID-19 and its influence on end-users are thoroughly examined in the market research study which spans the forecast period, i.e., 2022-2031. Along with that, the research report looks at the major market rival’s product portfolios and market expansion plans.
The global export value for smartphones in the year 2021 was recorded to be about USD 265 Billion with an annual growth value of 7% from its previous year. In addition to that, the adoption of the internet has risen during the pandemic, according to the most recent data by the International Telecommunication Union (ITU) registered 54% of the world population or 4.1 billion people using the internet in 2019. Since then, the number of users has increased by about 780 million, accounting for over 60% of the global population in 2021. Also, with an annual mobile data flow of around 50 exabytes, the IT sector has been investing over USD 1 trillion in telecommunication services. Owing to the rise in the trade of smartphones and the rate in the adoption of the internet, the global telecom managed services market gathered USD 19.5 billion in 2021 and is predicted to grow with a CAGR of ~15 % over the forecast period. Besides this, the increasing telephones, broadband, and mobile phone subscriptions is also expected to drive the growth of the market in the coming years. For instance, there were about 880 million people who had fixed telephone subscriptions along with about 1,300 million people who had fixed broadband subscriptions and close to 8,700 million people who had mobile phone subscriptions in the year 2021.
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The global telecom managed services market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in North America is anticipated to hold the largest share and witness growth over the forecast period. Factors such as expanded IT infrastructure and the need for faster internet connections are expected to drive the market growth in the region. Almost 92 percent of Americans were expected to have access to the internet in 2022. In addition to that, the USA, which was classified as the 4th highest country for the smartphone to population penetration at about 80 percent, had close to 280 million smartphone users as of 2020. The increased number of internet users and also the growth rate of smartphone users are predicted to fuel the market growth in the region. Moreover, the presence of major competitors and the increase in network cyber-attacks in this region are a few other factors anticipated to fuel the market expansion in the coming years. For instance, distributed denial-of-service (DDoS) attacks are more than double from about 7 million in 2018 to over 15 million in 2023. DDoS attacks increased in frequency in 2020 with more than 4 million attacks recorded in the first half of the year, which comes up to about 26,000 attacks daily and nearly 18 attacks every minute.
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Alternatively, the market in the Asia Pacific region is anticipated to rise at a considerable CAGR throughout the forecast period, resulting in modest growth. The expansion of the market can be ascribed to the expanding demand for improved IT infrastructure as well as increased technological advancements in the region. According to the statistics from the World Bank, in the East Asia Pacific region, 67 percent of people are using the internet in 2020. Thailand holds the highest percentage of internet users with 78 percent followed by China and Vietnam with 70 percent each in 2020. Growing technological advancements are projected to rise the number of internet users which is further anticipated to elevate the growth of the market in the region.
The study further incorporates Y-O-Y Growth demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific), Middle East & Africa (Israel, GCC[ Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East & Africa).
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The global telecom managed services market is segmented by service type into the data center, network services, communications services, security services, data & information services, mobility services, and others. By rising at the greatest CAGR throughout the forecast period, the data center segment is anticipated to account for the largest market share in terms of value by the end of 2031. The expansion of the segment can be attributed to the rise in demand for managed data centers on a global scale. Additionally, it is expected that factors such as the adoption of devices such as smartphones and tablets and increased network participation as a result of social media would drive the growth of the segment in the coming years. Demand for data servers and data centers has increased as a result of the huge increases in data output and utilization across a range of industries. It was observed that there were around 8,000 data centers worldwide as of January 2021. Six of these nations, i.e., the United States (~33 percent of the total), the United Kingdom (~6 percent), Germany (~5 percent), China (~5 percent), Canada (~3 percent), and the Netherlands (~3 percent) are home to the bulk of data centers. Data centers have become an essential component in the networking infrastructures of telecommunications companies.
The global telecom managed services market is segmented by organization size into small & medium enterprises (SMEs) and large enterprises. The small & medium enterprises segment is anticipated to witness significant growth over the forecast period and also hold a noteworthy share in the market. Small and medium-sized businesses (SMEs) are extremely important to most economies, especially those in emerging nations. They account for more than 50 percent of all jobs worldwide and 90 percent of all enterprises. In emerging economies, the gross domestic product (GDP) contribution from formal SMEs is predicted to reach 40 percent. When informal SMEs are taken into account, these figures are predicted to be substantially high. In addition to that according to the statistics from the government of India, as of December 31, 2020, there were 8,65,058 businesses registered in the service sector, compared to 5,37,677 businesses registered in the manufacturing category. The need for telecom managed services is expected to rise as more SMEs enter the market, which is expected to support the expansion of the global telecom managed services market.
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Some of the prominent industry leaders in the global telecom managed services market that are included in our report are Fujitsu Limited, IBM Corporation, Huawei Technologies Co., Ltd., Comarch SA, NTT DATA Corporation, Nokia Corporation, Tech Mahindra Limited, SAMSUNG, Juniper Networks, Inc., and Vodafone Limited among others.
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