B2B Telecommunication Market Value
Growing adoption of IoT and rise in demand for B2B telecommunication among corporate and government organizations are boosting the growth of the global market.
WILMINGTON, DE, UNITED STATES, December 17, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, The B2B Telecommunication Market Share Reach USD 181.35 Billion by 2030, Registering 14.8% of CAGR. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
The global B2B telecommunication market size was valued at USD 46.36 billion in 2020, and is projected to reach USD 181.35 billion by 2030, growing at a CAGR of 14.8 % from 2021 to 2030.
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Rise in adoption of IoT, surge in need for B2B telecommunication among governmental & private organizations, and increase in urbanization & industrialization across the globe drive the global B2B telecommunication market. Integration of novel technologies would unlock new opportunities for the market players in the future.
The global B2B telecommunication market is segmented on the basis of enterprise size, solution, industry vertical, and region. On the basis of enterprise size, it is classified into large enterprises and small & medium enterprises (SMEs). On the basis of solution, it is divided into cloud services, unified communication & collaboration, VoIP, WAN and M2M communication. On the basis of industry vertical, the global market is classified into BFSI, IT & telecom, media & entertainment, healthcare, government, retail & ecommerce and others. Region wise, the global B2B telecommunication market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Covid-19 Scenario:
â—Ź The Covid-19 pandemic encouraged the demand for B2B telecommunication due to lockdown restriction imposed by the government and adoption of work from home culture.
â—Ź The majority of the companies adopted B2B telecommunication to transmit information in several forms including voice, sound, text, and video.
Top Impacting Factors
â—Ź Increase in Adoption of IoT : Rise in adoption of internet of things (IoT) across various industrial sectors propels growth of the B2B telecommunication market. This is attributed to factories digitizing their workflows and demand for speed, quality, and security of the networks connecting them. B2B telecommunication is expected to turn the tide for smart factories, allowing owners to depart from fixed-line networks, gather operational intelligence in real time, and ensure shell-proof IIoT security.
â—Ź Rise in Demand for B2B Telecommunication Among Corporate and Government Organizations : Increase in focus of organizations in expanding their businesses and managing workforces globally boosts the need for B2B telecommunication. In addition, various organizations in sectors such as corporate, BFSI, education, government, and healthcare are adopting this software to provide high-quality services to their clients in the global pandemic to reduce overhead cost as well as to increase productivity of employees. Furthermore, various leading players of the B2B telecommunication market are introducing new software for different industries to increase security features and reduce communication gap between employees and companies.
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By enterprise size, the SMEs segment would register the highest CAGR of 15.9% during the forecast period, owing to the presence of small and medium-scale organizations and rise in need to enhance telecommunication systems among the SMEs to increase their business reach. However, the large enterprise segment held the largest share in 2020, accounting for nearly two-thirds of the global B2B telecommunication market, as it helps in auto-attendant and calls transferring.
By industry vertical, the BFSI segment dominated the market in terms of revenue in 2020, contributing to around one-fourth of the global B2B telecommunication market, as it allows leading banks to securely process unique transactions as per business requirements in a day. However, the media and entertainment segment is projected to register the highest CAGR of 17.7% from 2021 to 2030, as it offers secure communication solution, which enables media houses to contact with big media houses and producers.
By region, the market across North America held the largest share in 2020, contributing to around one-third of the market, due to increase in adoption of IoT and cloud-based products. However, the global B2B telecommunication industry across Asia-Pacific is anticipated to portray the highest CAGR of 16.1% during the forecast period, owing to the presence of several large-scale manufacturers and availability of high-speed communication networks across the region.
The key players profiled in the B2B telecommunication market analysis are Amdocs, AT& T, Inc., Cisco Systems, Inc., Comarch S.A., Deutsche Telekom AG, NTT Communication, Orange S.A., Telefonica, S.A., Vodafone Group PLC, and Verizon. These players have adopted various strategies to increase their market penetration and strengthen their position in the B2B telecommunication industry.
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