With the increasing importance of cloud computing in telecommunication industry various applications areas and data are moved from on-premise to on-cloud to benefit the user by making them connected to their data on server. The need for IT optimization that may lead to decreasing costs, and more elasticity and speed has augmented the pace of growth of the market. Connectivity raises the value of access networks and provides network service providers with new business opportunities The major driving factor for expansion of telecom cloud market is IT modernization which implies full utilization of public cloud services for availing advantages of cost saving and innovation in a well-established up-to-date IT environment. Modern IT platform is also encouraging the digital business. The improved transparency of major cloud providers will also contribute to the growth of global telecom cloud market. Connectivity provided by telecom cloud raises the value of access networks and provides new business opportunity to network service providers.
As per the current report by Market Research Future (MRFR), the global cryogenic equipment market is expected to record up to USD 29 billion by 2022 from the USD 9 billion recorded in 2016, at a 20% CAGR during the forecast period.
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The major market players in the global market for telecom cloud are China Telecommunications Corporation (China), Telus Corporation (U.S.), NTT Communications Corporation(Japan), BT Group PLC (U.K.), CenturyLink, Inc.(U.S.), AT&T Inc.(U.S.), T-Mobile International AG(Germany), Fusion Telecommunications International, Inc.(U.S.), Verizon Communications, Inc.(U.S.), and Telstra Corporation Limited (Australia) among others.
The regional analysis of the telecom cloud market covers areas such as Europe, North America, Asia Pacific, and the rest of the world. The North American region is poised to lead the telecom cloud market due to improved penetration of organization with the workforce having strong technical knowledge and who are keen to quickly adopt the telecom cloud services for improved connectivity and communication. It also provides enhanced technologies for sustaining the telecom cloud market in the North American region. The Asia Pacific region will perceive expansion in the review period due to government regulations associated with the adoption of best in class technologies.
In the European region, a cloud initiative is offering telecom companies with an infrastructure for storage and management of data and computers, given that the high-performance computers for processing of data and high-speed connectivity for transfer of data. The telecom cloud market in the European region is expected to place Europe as a data driven innovation thereby boosting and improving the competitiveness of the digital market in Europe.
The telecom cloud market forecast has been analysed on the basis of applications, solutions, services, end-users and cloud platforms.
The services segment of the market comprises of network as a service and communication as a service.
The segmentation of the telecom cloud market on the basis of applications encompasses billing, customer management & provisioning, and traffic management among others.
The solutions segment consists of Content Delivery Network (CDN), WebRTC, Unified Communication and Collaboration (UCC), and Over-the-Top (OTT), among others.
The cloud platform segment consists of SaaS, PaaS, and IaaS. The end-users segment includes healthcare, banking, government, transportation, and entertainment among others.