Telecom Cloud Market size was valued at USD 24.60 Billion in 2022 and is poised to grow from USD 29.52 Billion in 2023 to USD 126.93 Billion by 2031, at a CAGR of 20% during the forecast period (2024-2031).
The COVID-19 pandemic has significantly accelerated digitalization and this has proven to be a crucial event for the growth of the telecom cloud market. The growing requirement for work from home along with the transition to the cloud for reducing expenses has propelled the global telecom cloud market. The growth of the telecom market can also be attributed to the constant research and development initiatives. Such initiations are primarily funded by the leading market players. Companies are also going into strategic partnerships, which is contributing immensely to the progression of the telecom cloud market. These activities of the leading companies are increasing their market presence intensifying the competition. The enhancement of the communications and information technology has also substantially transformed the way organizations operate. Furthermore, to fulfil the rising demands from business operations telecom cloud companies are investing more on advanced cloud services. The key factors that are boosting the telecom cloud market are the rising demand for advanced telecom services and the requirement for scalable infrastructures These structures can support growing technologies like 5G, Internet of Things, and AI. The high adoption of cloud-based structures and virtual network functions enable operators to launch new services that can respond to the consumer demands. The transformation of telecom services with edge computing and the advancement of edge cloud solutions also offers new opportunities to the market. Edge cloud allows low-latency and high-bandwidth applications, paving the way for advanced services like autonomous vehicles, smart cities, and immersive media experiences.
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Emergence of 5G Leads to Better Management of Massive Amount of Data Propelling Market Growth
The emergence of 5G has driven the digital transformation of the telecom sector. With the increasing enhancement in bandwidth, the prominent players are offering better user experiences. With the upgradation in mobile network the 5G network is significantly growing. This is encouraging several organizations to adopt their private cloud so that they can operate efficiently. The increasing adoption of 5G is one of the primary factors propelling the market growth. With this next-generations cellular network the technology has the potential to evolve the telecommunication sector. The 5G network needs advanced cloud infrastructure for managing the massive amount of data and supporting high-speed, low-latency communication. Telecom cloud solution offer better flexibility to meet the requirements of the 5G networks and allow the delivery of innovative services.
Rising Dependence on Telecom Solutions to Efficiently Manage Network Traffics During High Demand
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The outbreak of COVID-19 pandemic, work from home, and online educational trends have immensely promoted in several countries to reduce the spread of the coronavirus. This resulted in an overloading of many telecoms infrastructure and services because employees were working from home and kids having remote classes were also using telecommunication services. As a result, the dependency on telecom cloud applications increased rapidly during this period. Telecom cloud solutions became highly crucial for helping telecom operators and communication service providers for managing network traffic and quality of services during high demand. Moreover, remote working is still continuing even after the pandemic, resulting in the increasing popularity of telecom services. The trend is boosting the demand for telecom cloud platforms, expanding the telecom cloud market.
- Dell Technologies went into a strategic partnership with Ericsson in May 2024. This will increase cloud-based radio access network transformation for communications service providers. The collaboration aims to address the increasing demand for network agility, cost-effectiveness, and dependability.
- Telecom Egypt and Huawei collaborated in May 2024. The objective was to establish Egypt’s inaugural public cloud platform providing businesses access to advanced cloud services.
- Dell Technologies introduced a line of new software and services in February 2024. This will streamline the transformation of telecommunication service providers to cloud-based networks.
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Rising Popularity of Network Function Virtualization to Enhance Network Scalability to Positively Influence Growth of Market
With the help of NFV, the conventional hardware-based network functionalities are virtualized and operated on standard IT infrastructure. Telecom cloud services allow the implementation of NFV, enabling operators to replace the dedicated network equipment with virtualized functions running on cloud platforms. NFV assists in reducing operational expenses, improving network scalability, and increasing service deployment.
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