Market Highlights
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.
Drivers and Restraints
The rising demand for over the top cloud services, lower operational and administrative costs, and growing awareness about telecom cloud among enterprises are poised to boost the growth of the market. The developments in information and communications technology have brought remarkable changes in the global business operation. Additionally, numerous government and public enterprises are dependent on important information infrastructure services. Also, organizations are currently showing more interest in cloud services to meet the growing demand from business operations. The amplified transparency of major cloud providers will also integrate to the development of the telecom cloud market. With the rising demand for cost-efficient and user-friendly browser-based communication solutions, many notable vendors are looking to present vertical-specific WebRTC solutions and services in North America, which is indirectly projected to boost the growth of the market. On the other hand, the risk of cyber threats poses a big challenge to market growth, as cyberattacks on telecommunication operators can disrupt services for phone and internet consumers, cripple businesses, and shut down government operations.
The increasing demand for IT optimization can lead to lower costs, and more flexibility and speed have augmented the pace of growth of the market. With the growing significance of cloud computing in the telecommunication industry, the growth in the value of access networks is offering network service providers with new business prospects. Various government and public enterprises are reliable on important information infrastructure services. Moreover, organizations are now showing more interest in cloud services to meet the growing demand from business operations.
Regional Analysis
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.
Segmentation:
The telecom cloud market 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.
Competitive Landscape
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.