The global telecom managed services market is forecast to grow at a compound annual growth rate (CAGR) of more than 14% during the forecast period from 2021-2030.
Managing services involves outsourcing managerial duties and functions, which is a strategic way to reduce costs and improve operations. The telecom managed service provides the company with telecom solutions essential for its operations, enabling it to focus on its core business. The Telecom Managed Service provides telecom companies with enhanced communication, enhanced team collaboration, improved flexibility, comprehensive reporting, premier customer service, and improved security. Efficiencies and security are driving organizations to adopt telecom managed services. The managed service contract involves providing a customer's end-to-end solution by providing active monitoring functions and proactively reporting problems and incidents.
- Due to increased investments in the development of new technology, the global market for telecom managed services is forecast to grow substantially.
- Global telecom managed services market growth will drive by advancements in new technology and 5G infrastructure from key companies such as Ericsson and Samsung.
- The number of mobile users continues to grow, which increases the demand for high-speed internet services, driving the global telecom managed services market forward.
- Firms often face limitations due to geographical boundaries and long-distance team collaborations; however, Bring Your Own Device (BYOD)allows them to communicate effectively and share information efficiently. This new trend presents a lucrative opportunity for telecom managed service providers globally.
- The cybersecurity skills gap is causing havoc in the telecom managed services sector, with many organizations reporting that they do not have the appropriate security in place. The global market for telecom managed services predicts to suffer adversely from increased cybercrime.
Impact Analysis of COVID-19
The COVID-19 initiative had adverse effects across many sectors, but the telecom sector has benefited. In response to the lockdown imposed by the government of different countries, cinemas and theaters were closed to prevent the spread of the virus. In addition, social media platforms, OTT platforms, and other digital platforms have also grown in popularity. Due to these factors, the demand for high-speed connections and larger bandwidths is increasing, driving growth in the global telecom managed services market.
In addition, businesses are investing in the growth of the telecom managed services industry due to the growing demand for digital platforms. The Covid-19, therefore, has positively affected the telecom managed services market.
Globally, the Asia-Pacific region holds the largest share of the telecom managed services market. North America has the second-largest share of the global telecom managed services market and will experience rapid growth. The growing adoption of new technology in the telecom industry is driving North America's market growth. In this region, telecom managed services have grown due to new opportunities such as IT convergence. The major firms are also investing in North America due to the demand for high-speed data connectivity and higher bandwidths in this region.
The leading prominent competitors in the global telecom managed services market are:
- AT&T Inc. (United States)
- Centurylink (United States)
- Cisco Systems, Inc (United States)
- Comarch SA (Europe)
- Deutsche Telekom AG (Europe)
- Ericsson AB (Europe)
- GTT Communications, Inc. (United States)
- Huawei Technologies Co., Ltd (China)
- International Business Machines Corporation (United States)
- NTT Data Corporation (Japan)
- SoftBank Group Corp (Japan)
- Sprint.Com (Europe)
- Tech Mahindra Limited (India)
- Unisys, Amdocs Inc. (United Kingdom)
- Verizon Communications Inc. (United States)
- Vodafone Group (United Kingdom)
- Other Prominent Players.
Scope of the Report
The global telecom managed services market segmentation focuses on Type, Organization Size, and Region.
Segmentation based on Type
- Managed Data Center
- Managed Network Services
- Managed Data and Information Services
- Managed Mobility Services
- Managed Communications Services
- Managed Security Services
Segmentation based on Organization Size
- Small and Medium Enterprises
- Large Enterprises
Segmentation based on Region
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America