Pune, India, Dec. 14, 2023 (GLOBE NEWSWIRE) -- The global Telecom Cloud Market size was valued at USD 15.18 billion in 2022 and is projected to reach USD 97.07 billion by 2030, exhibiting a CAGR of 26.4% during the forecast period. Fortune Business Insights presents this information in their report titled "Global Telecom Cloud Market Forecast, 2024-2030."
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Notable Industry Development:
December 2022- Linux Foundation (LF) Europe launched Project Sylva to support the European drive toward telecom network cloudification. The seven founding members of the project include Ericson, Nokia Corporation, and Deutsche Telekom, and are integrating cloud technology frameworks to strengthen Europe’s telecom cloud infrastructure.
Key Takeaways
- Telecom Cloud Market size in North America was USD 5.78 billion in 2022
- Growing Popularity of Hybrid & Remote Working Amid COVID-19 Pandemic Propelled Market Growth
- Rising Demand for Enhanced Communication Services to Fuel Virtual Network Function Demand
- Large Customer Base to Propel Large Enterprises Investments in the Market
Discover the Leading Players Featured in the Report:
“Companies leading the global Telecom Cloud Market are VMware, Inc. (U.S.), IBM Corporation (U.S.), Telefonaktiebolaget LM Ericsson (Sweden), Cisco Systems, Inc. (U.S.), Google LLC (Alphabet LLC) (U.S.), Huawei Technologies Co., Ltd. (China), Amazon Web Services, Inc. (Norway), Microsoft Corporation (U.S.), Oracle Corporation (Munich), Deutsche Telekom (Japan).”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 26.4% |
| 2030 Value Projection | USD 97.07 billion |
| Base Year | 2022 |
| Telecom Cloud Market Size in 2022 | USD 15.18 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | Deployment, Type, End-Use and Geography |
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Drivers and Restraints:
Rising 5G Technology Worldwide to Propel Market Growth
The growing launch of 5G technology worldwide is anticipated to boost the market growth of telecom cloud during the forecast period. The 5G technology offers next-generation cellular network potential to revolutionize the telecommunication industry. For instance, in June 2023, major market players in China, including China Telecom, China Unicom, China Mobile, and Broadnet, announced a partnership to launch the first 5G inter-network roaming service trial.
Segmentation
By Deployment
- Private
- Hybrid
- Public
By Enterprise Type
- Large Enterprises
- Small & Medium Enterprises
By Service Type
- SaaS
- IaaS
- PaaS
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
Increasing 5G Technology Adoption to Boost Market Growth in North America
North America is estimated to hold the largest telecom cloud market share during the forecast period. The growth is attributed to the region’s rising adoption of 5G technology. The U.S. is expected to hold the highest share during the forecast period due to the changing digital data. The North America cloud telecom market stood at USD 5.78 billion in 2022.
Asia Pacific will experience the fastest growth rate during the forecast period due to the rising mobile audience in the region.
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Competitive Landscape:
Increasing Key Players Focus on Partnerships to Boost Market Growth
Major telecom cloud players are adopting partnership strategies with several cloud and telecommunication companies. The companies will offer enhanced and efficient client solutions with these partnership strategies. For instance, Google LLC launched three unified cloud solutions, including telecom data fabric, network automation, and subscriber insights. These products will support communication service companies with hybrid cloud principal, improved deployment options, and data collection.
FAQs
How big is the Telecom Cloud Market?
The Telecom Cloud Market size was USD 15.18 billion in 2022. It is expected to reach USD 97.07 billion by 2030.
How fast is the Telecom Cloud Market growing?
The Telecom Cloud Market will exhibit a CAGR of 26.4% during the forecast period, 2023-2030.
Related Reports:
Software as a Service Market Size, Share, Revenue Forecast and Opportunities
Cloud Computing Market Overview, Industry Share and Forecast
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