Telecom Managed Services Market to Reach USD 67.9 Billion by 2032, Growing at 12.7% CAGR

TOKYO, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The Telecom Managed Services Market Size accounted for USD 20.9 Billion in 2022 and is projected to achieve a market size of USD 67.9 Billion by 2032 growing at a CAGR of 12.7% from 2023 to 2032.

Key Points and Statistics on the Telecom Managed Services Market:

• The Global Telecom Managed Services Market size is projected to grow to USD 67.9 Billion by 2032, expanding at a CAGR of 12.7% from 2023 to 2032.
• North America dominated the market with over 36% share in 2022.
• The cloud deployment segment captured the largest market share of 56% in 2022.
• By product, managed data center services held the highest market share of 31% in 2022.
• The increasing demand for enhanced operational efficiency, security, and agility in telecom businesses drives the market value.

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Telecom Managed Services Market Coverage:

Telecom Managed Services Market Overview and Analysis:

Telecom managed services may seem specialized, but their impact is vast, transforming the telecom industry from network management to customer support. As companies increasingly adopt these services, the market is flourishing. The Telecom Managed Services Market is dedicated to offering services that enhance the efficiency, security, and versatility of telecom operations. However, the market's growth might face challenges like data security concerns and integration issues. In essence, telecom managed services are becoming a pivotal tool in modern telecom practices, offering numerous advantages while also encountering certain challenges. The market is anticipated to grow significantly in the upcoming years, propelled by technological advancements and increasing demand from various telecom sectors.

Latest Telecom Managed Services Market Trends and Innovations:

Technological advancements are leading to more efficient and versatile service solutions. For instance, the rise of 5G, IoT, and cloud computing technologies are pushing telecom companies to seek expert managed services. Continuous research and development are introducing innovative telecom managed service solutions for various telecom applications.

Major Growth Drivers of the Telecom Managed Services Market:

The primary growth drivers include the increasing complexity of telecom networks, advancements in 5G, IoT, and cloud technologies, focus on cost reduction, and the rising demand for enhanced customer experiences.

Key Challenges Facing the Telecom Managed Services Industry:

Challenges include data security concerns, integration issues with legacy systems, and the rapid evolution of technologies that require constant adaptation.

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Market Segmentation Insights:

Based on Deployment:

• On-premise
• Cloud

Based on Service Type:

• Managed Mobility Services
• Managed Data Center Services
• Managed Security Services
• Managed Network Services
• Other
  

Based on Enterprise Size:

• SMEs
• Large Enterprises

Overview by Region of the Telecom Managed Services Market:

While North America currently dominates the telecom managed services market, thanks to its technological advancements, there's significant potential in the Asia-Pacific region, which is expected to record a CAGR of more than 13.5% from 2023 to 2032.

List of Key Players in the Telecom Managed Services Market:

The notable companies in the market include Cisco Systems, Inc., International Business Machines Corporation, Huawei Technologies Co., Ltd., Verizon Communications Inc., Telefonaktiebolaget LM Ericsson, NTT DATA, Acuity Technologies, Nokia, AT&T Inc, Fujitsu Ltd., and Comarch SA.

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List of Key Players in the Global Market:

Cargill Inc., Ceamsa, Dohler Group, DuPont De Numerous Inc., Ingredient Solutions Inc., KIMICA, Marine Biopolymers Limited, Penford Corporation, Shandong Jiejing Group Corporation, SNAP Natural & Alginate Product Pvt. Ltd. and Algea

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