The Global Telecom Managed Services Market to Reach Revenue of $26.03 Billion by 2024
BANGALORE, India – September 2018 : Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Telecom Managed Services Market: Global Drivers, Restraints, Trends, and Forecast up to 2024” (September 2018).
According to Infoholic Research, the Global Telecom Managed Services Market is expected to grow at a CAGR of 12.1% during the forecast period 2018–2024. The rapid growth of network traffic has brought several market opportunities for telecom operators but has also created enormous pressure and challenges on them. Subsequently, increasing software-defined network architecture has bolstered the growth of telecom managed services.
Managed services refer to a kind of outsourcing day-to-day operations of a company, not only technology related operations but also managed services can be provided for marketing and even more basic operations transportation or power. MSPs offer well-defined services to their clients and are usually proactive in their approach to provide services ranging from very limited to broad with each MSP having its own scope and value proposition. Numerous telecom organizations are switching to managed services with a broad focus on their core business operations and security, to generate maximum revenue & new revenue streams, and increase customer satisfaction.
North America is projected to hold the largest share of the telecom managed services market during the forecast period. The presence of a high number of MSPs in the North American region contributes to over 34% of the overall market share. Moreover, the region has the highest propensity of technology adoption, contributing to almost 40% of the global enterprise digital transformation market spend.
The market in the APAC region is likely to witness high growth, given the increasing requirement of TSPs for network control and optimization. Over the past few years, the region has witnessed an exponential increase in the smartphone market and currently holds the highest market share. Thus, the increasing pressure on telecom service providers to enhance service quality and mitigate risk from increasing security breaches and DDoS attacks, such as ransomware, are driving the growth of the market in this region.
“Globally, telecom companies continue to face high competition and are constantly under pressure to manage their capital as well as operational costs. To address these challenges, telecom operators are focusing on managed services that enable them to deliver affordable services, technology upgradation, and consequently enhance the customer experience. MSPs support telecom operators in monitoring network infrastructure, managing SLAs, managing security, device management, and application management among other services for better quality of service and experience.” – Sonam Chawla, Research Analyst at Infoholic Research
The report aims to highlight key insights from service providers, verticals, and stakeholders. The report covers the current scenario and the development prospects of the telecom managed services market during the forecast period 2018–2024. It also provides an in-depth analysis and forecast of the industry covering the following key features:
- The report not only highlights the challenges associated with the telecom managed services market, but it also brings in the major vendors investing in this space to alleviate these challenges.
- The report is analyzed based on service types and regions.
- The report covers the advantages, and importance of services in terms of future perspective.
- The report covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2018–2024).
- The report contains an analysis of vendors profile, which includes financial health, business units, key business priorities, SWOT, strategies, and views and competitive landscape, which includes vendor assessment.
Ms. Kathakali Basu
Infoholic Research LLP