Telecom Service Assurance Market Size – USD 5.97 Billion in 2020, Market Growth – CAGR of 9.22%, Increasing need for enhanced & advanced communication services
NEW YORK, NY, UNITED STATES, December 19, 2021 /EINPresswire.com/ — The rising need for advanced communication services and enhanced optimization, and the surging number of mobile subscribers is propelling the growth of the market.
The global Telecom Service Assurance Market is anticipated to attain a valuation of USD 12.06 Billion by 2028, growing at a CAGR of 9.22% throughout the forecast timeline. The market was valued at USD 5.97 Billion in 2020. The market growth is primarily driven by the rising need for devices offering superior connectivity and enhanced experience. The advent of 5G technology and a rapid shift towards a digital lifestyle is further fueling the growth of the market. The rising penetration of advanced and complex technology, coupled with the increasing competition in the sector, is further bolstering the growth of the market.
Telecom service assurance can be defined as the policies and processes applied by the communications service providers (CSP) to ensure the services provided over networks are up to the standards of the service quality set for an optimal subscriber experience. The massive increase in the cloud traffic, rising mobile subscriber base, and increasing use of smartphones is propelling the telecom service assurance market to lean towards the growth curve.
The competitive landscape of the telecom services market is fragmented, with several key players operating in the industry. The players are adopting strategic business expansions and development plans to gain a strong foothold in the industry. The surge in the subscriber’s number, increasing need for enhanced optimization, and rising need for advanced communication services are propelling the companies to develop innovative technologies thereby, driving the growth of the telecom service assurance market.
Some of the leading players in the industry are CA Technologies, Ericsson, Nokia Corporation, Accenture, IBM, MYCOM OSI, Oracle Corporation, Tata Consultancy Services Limited, Viavi Solutions Inc., and ZTE Corporation.
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Further Key Findings From the Report Suggest:
• The global Telecom Service Assurance Market is anticipated to attain a valuation of USD 12.06 Billion by 2028, growing at a CAGR of 9.22% throughout the forecast timeline. The market was valued at USD 5.97 Billion in 2020.
• Telecom service assurance can be defined as the policies and processes applied by the communications service providers (CSP) to ensure the services provided over networks are up to the standards of the service quality set for an optimal subscriber experience.
• The market growth is primarily driven by the rising need for devices offering superior connectivity and enhanced experience. The advent of 5G technology and a rapid shift towards a digital lifestyle is further fueling the growth of the market.
• Based on the solution type, the services segment is anticipated to lead the market in the coming years. The services segment is further distinguished into professional services and managed services. The professional services are further classified into planning and consulting services, operation and maintenance services, and system interrogation services.
• The services segment is presumed to grow at the highest rate during the forecast timeline due to the rapid and increasing adoption of telecom service assurance solutions across large and small enterprises. This has created an increased need for consulting services, deployment services, and support and maintenance services worldwide.
• Based on the deployment type, the cloud-based deployment model is presumed to grow at a significant rate during the forecast period owing to rapid and swift adoption of cloud-based solutions by the telecom operators to minimize costs associated with software maintenance and upgradations.
• Based on the size of the organizations, small and medium enterprises are anticipated to grow at a significant rate owing to the rapid adoption of cloud platforms and increasing penetration of IoT and 5G network technology. This can be attributed to the rising inclination of the medium and small enterprises towards cloud-based solutions to provide optimal end-user experience.
• Based on the regional analysis, North America is anticipated to register the highest growth rate during the forecast period due to the rising adoption of 5G network technology and advancements in the IoT sector. North America is projected to grow at a CAGR of 30% throughout the forecast timeline.
• Asia Pacific is anticipated to register a significant growth rate due to rapid digital transformation and deployment of 5G network technology in regions such as China and Japan.
• In 2018, IBM and NETSCOUT joined forces to incorporate NETSCOUT’s network analytics in IBM’s telecommunications analytics suite.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/telecom-service-assurance-market
For the purpose of this report, Reports and Data has segmented the Global Telecom Services Assurance Market on the basis of component, deployment, organization size, and region:
Component Outlook (Revenue, USD Million; 2018–2028)
Deployment Outlook (Revenue, USD Million; 2018–2028)
Organization Size Outlook (Revenue, USD Million; 2018–2028)
• Small and Medium Enterprises
• Large Enterprises
Regional Outlook (Revenue, USD Million; 2018–2028)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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Key Advantages of Telecom Service Assurance Report:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Telecom Service Assurance industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Telecom Service Assurance market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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