Increasing demand for over-the-top cloud services is one of the significant factors influencing market growth.
The global telecom cloud market is expected to reach USD 83.00 Billion by 2028, according to a new report by Reports and Data. OTT (Over-the-top) consumers demand more flexibility in scheduling, arranging videos, live events, and recording of favorite shows, thereby pushing the service providers to opt for more resources, infrastructure scalability, and computing resources to cater demands. By adopting a cloud-based workflow, video service providers can efficiently hand off duty for the infrastructure and networking supporting their OTT services. Telecom cloud can be instrumental in meeting the needs of OTT service providers, thus resulting in the growth of the market.
The telecom cloud leads to low operational costs, which is expected to drive the market growth in the forecast period. By deploying cloud computing, service providers can host services and software at a considerably lower cost. Provisioning and virtualization software allows organizations to efficiently assign computing resources, thus lowering the cost of hardware. Service providers can locate facilities at low-cost locations, provisioning, which cannot be replicated by most enterprises, resulting in low up-front costs.
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Top 10 Companies Operating in the Global Keyword Market:
AT&T Inc., Verizon Communications Inc., Ericsson, Deutsche Telekom, BT Group PLC, CenturyLink Inc., Orange Business Services, NTT Communication Services, Singapore Telecommunications Limited, and Telstra Corporation Limited, among others.
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The global market is further segmented into type and application:
Offering Outlook (Revenue, USD Million; 2018-2028)
Service Type Outlook (Revenue, USD Million; 2018-2028)
- Infrastructure as a Service (IaaS)
- Software as a Service (SaaS)
- Platform as a Service (PaaS)
- Community as a service (CaaS)
- Network as a Service (NaaS)
Deployment Mode Outlook (Revenue, USD Million; 2018-2028)
- Public Cloud
- Private Cloud
- Hybrid Cloud
Organization Size Outlook (Revenue, USD Million; 2018-2028)
- Small & Medium-Sized Enterprises
- Large Enterprises
Application Outlook (Revenue, USD Million; 2018-2028)
- Billing & Provisioning
- Traffic Management
Industry Verticals Outlook (Revenue, USD Million; 2018-2028)
- Media & Entertainment
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further key findings from the report suggest
- By offering, solutions contributed to a larger market share in 2018 as the solution offerings in the market comprise unified communication and collaboration (UC&C), content delivery network (CDN), and other solutions.
- By service type, SaaS dominated the market in 2018 and is expected to witness a growth rate of 19.2% in the forecast period. The swift growth of on-demand services among consumers has resulted in a high demand for this service type in the telecom cloud market.
- By organization size, small & medium-sized enterprises are expected to witness a higher CAGR of 20.5% in the period 2020-2028 as services and solutions have the potential to produce enhanced efficiency, quality, and business productivity.
- By industry verticals, BFSI held the largest market share in 2018 and is expected to grow at a rate of 19.6% in the forecast period.
- North America dominated the market in 2018 and is expected to experience a growth rate of 19.1% in the forecast period. The market dominance of North America is attributed to the presence of leading telecom companies mainly in the U.S. and Canada
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