The global telecom industry is experiencing a paradigm shift in the services that are being offered by the mobile service providers across the globe. The worldwide operators are making efforts to explore new offers to sustain in the stiff competition among the major service providers. In addition, the entry of domestic and international newcomers has intensified the prevailing competition in the last few years. The mobile service providers are focusing on becoming the overall communication providers in the next few years.
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The increasing industrial activities and growth of micro, small, and medium enterprises are the major factors expected to fuel the growth of the market in the near future. In addition, the wide range of enabling technologies is estimated to bring flexibility and multiple choice-based options, which is further anticipated to empower the solution providers, service providers, and other parties in the value chain.
In 2014, the global market for telecom enterprise services was valued at US$148.7 bn and is predicted to reach a valuation of US$217.9 bn by the end of 2023. This market is estimated to exhibit a healthy 4.10% CAGR between 2015 and 2023.
Voice Solution Segment to Witness Rapid Growth thanks to Several Benefits it Offers
On the basis of solution, the global market for telecom enterprise services has been classified into voice, managed services, cloud services, wireless/mobility, and data/internet services. In 2014, the voice segment dominated the market, accounting for a share of 34% in the overall global market for telecom enterprise services. The enterprise-level voice services and unified communications are the major voice services, which are helping the enterprises in enhancing productivity, reducing travel and operating expenses, and gain the advantage of VoIP. Some of the other key advantages of using the voice solution are streamlining communications, improving collaboration, and supporting mobility. Nevertheless, the wireless/mobility segment is anticipated to grow rapidly throughout the forecast period.
On the basis of end use, the global market for telecom enterprise services has been categorized into large enterprises and small and medium enterprises. Among these, in 2014, the large enterprise segment led the market, holding a share of 75% in the global market. However, in the next few years, the small and medium enterprise segment is projected to grow at a fast pace owing to the growing number of startups in the IT and ITeS field around the world, which indirectly fueled the growth of the market.
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North America Led Global Market for Telecom Enterprise Services in 2014
By geography, the global market for telecom enterprise services has been classified into Asia Pacific, North America, the Middle East and Africa, Latin America, and Europe. Among these, in 2014, North America led the market, accounting for a share of 36% in the overall market for telecom enterprise services. Furthermore, the Latin America and Asia Pacific markets are expected to grow at a fast pace, exhibiting a 7.10% CAGR and 6.50% CAGR, respectively, from 2015 to 2013.
Some of the leading players operating in the global market for telecom enterprise services are X4 Solutions, Converged Network Services Group., Intelisys Communications, Inc., Telarus Inc., Intracom Telecom SA, WTG Technologies Limited, Telecom Brokers, Telecom Brokerage Inc., Advoda Communications, Inc., and Business Communications Management, Inc.