Telecom Outsourcing Market Analysis:
The Telecom Outsourcing Market is projected to grow from USD 14.5 billion in 2024 to approximately USD 28.9 billion by 2032, reflecting a robust compound annual growth rate (CAGR) of 13.6% during the forecast period from 2024 to 2032. This growth is attributed to several factors, including the rising adoption of mobile services, the need for operational cost reduction, and the increasing reliance on cloud services across various industries.
The growing demand for telecom outsourcing among small and medium enterprises drives the Telecom Outsourcing Market Growth in the review period. Moreover, the associated advantages of telecom outsourcing, such as improved network availability and cost reduction, are thriving in the market growth.
In addition, the increasing adoption of cloud technology and the growing use of smartphones are the major factors to enhance the growth of the Telecom Outsourcing Market. For instance, the global market has lucrative opportunities for the market giants due to the increasing number of telecom and IT developments.
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Major Market Players:
- Huawei Technologies Co. Ltd
- Nokia
- Ericsson AB
- International Business Machines Corporation
- NEC Corporation
- Motorola Solutions Inc.
- ZTE Corporation
- Hewlett Packard Enterprise Co.
Market Segmentation:
The Telecom Outsourcing Industry report explains that the global market has been segregated into end-use outlook and service type outlook.
The global market has been divided into health care, BFSA, IT and telecommunication, manufacturing, retail, and others based on the end-user outlook segment.
Based on the service type outlook segment, the global market has been segmented into call center or customer services, human resources, finance and accounting, procurement and supply chain, KPO, etc.
Regional Analysis:
According to the Global Telecom Outsourcing Market report, the global market has been classified into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
Out of all the regions, the North American region is leading by creating the largest market share during the review period. For instance, this region holds nearly 36% of the total market revenue in the analysis period due to the growing adoption of digital cloud services that need maintenance and frequent assistance for business operation in the region. In addition, this region has legislative and regulatory pressures, the presence of tech giants, and high adoption of BPO services in the region, fueling the regional market growth.
Furthermore, the Asia Pacific region is projected to register the highest CAGR during the forecast period of 2021 to 2028. The Asia Pacific countries have huge demands for telecom outsourcing due to several factors that include reduced labor costs, investments in infrastructural development by governmental bodies, significant digital investments by leading vendors, talented professionals, and many more.
Industry News:
In the present scenario, innovative growth has been witnessed in special operations such as finance outsourcing and accounting outsourcing. Additionally, fast growth has been seen due to the advancements in cloud services and internet speed. For instance, in May 2019, the prominent market player Vodafone Idea for Vodafone’s Service & Network Operations Center (SNOC) chose Hewlett Packard Enterprise (HPE).
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