The global B2B telecommunication market revenue was US$ 53.3 billion in 2021. The global B2B telecommunication market revenue is forecast to reach US$ 181.39 billion by 2030, growing at a compound annual growth rate (CAGR) of 15% during the forecast period from 2022 to 2030.
A B2B communication occurs between businesses, rather than between businesses and clients or clients and clients. There are many ways to communicate, including e-mail, fax, instant messaging, radio, satellite, and more. Companies that offer B2B telecommunication services maintain systems that transmit data, text, sound, voice, and video, allowing them to communicate directly.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had positively impacted the global B2B telecommunication market. Several governments worldwide have imposed lockdown, which resulted in the closure of physical office work. Thus, various companies adopted work from home. In order to ensure proper communication, firms were adopting B2B communications in order to share information in many formats such as text, sound, voice, and video. B2B telecommunication has reduced the need for face-to-face meetings significantly and the associated travel expenses. The B2B telecommunication makes it easy for potential clients to reach them by means of social media platforms or face-to-face meetings via teleconferencing.
Regional Insights
In terms of region, North America dominated the B2B telecommunications market in 2021 and is forecast to maintain its position over the forecast period. As a result of the growing use of IoT devices and cloud-based services. Moreover, an escalating fierce competition among market players, which leads to better product offerings and customer satisfaction with services, explains the thriving market in the region.
During the forecast period, Asia-Pacific is forecast to experience significant growth. There are several large-scale manufacturers within the region, along with the availability of high-speed communication networks. Furthermore, the increasing use of telecommunication networks and higher bandwidth calls enables better quality audio and video, resulting in the regional B2B telecommunication market growth.
Leading Competitors
The leading prominent companies profiled in the global B2B telecommunication market are:
Scope of the Report
The global B2B telecommunication market segmentation focuses on Enterprise Size, Solution, Industry Vertical, and Region.
Segmentation based on Enterprise Size
Segmentation based on Solution
Segmentation based on Industry Vertical
Segmentation based on Region