Telecom Cloud Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The telecom cloud market was valued at USD 25.33 billion in 2020 and expected to reach USD 74.36 billion by 2026 and grow at a CAGR of 19.9% over the forecast period (2021 - 2026). The latest trend of cloud-technology has enabled a way for telecommunication organizations to migrate to the internet, where there is no longer the need to have costly hardware for businesses to stay connected to the rest of the world.

• The advancements in the information and communications technology have brought remarkable changes in the global business operation. Various government and public enterprises are dependent on important information infrastructure services. Also, organizations are now showing more interest in cloud services to meet the growing demand from business operations.
• The increasing demand for over the top cloud services, lower operational and administrative costs, and growing awareness about telecom cloud among enterprises are expected to boost the growth of the market.
• With the rising demand for cost-effective and user-friendly browser-based communication solutions, many notable vendors are looking to introduce vertical-specific WebRTC solutions and services in North America, which is indirectly expected to boost the growth of the market.
• However, the risk of cyber threats poses a big challenge to market growth, as cyber attacks on telecommunication operators can disrupt services for phone and internet consumers, cripple businesses, and shut down government operations.
• Due to the Covid-19 pandemic, the telecom industry is experiencing a transformational period of advancement to adjust itself as per new technologies and cloud patterns. With an increasing number of people currently working from home, obtaining educational resources for homeschooling, and streaming video entertainment is on the rise. Given this, the telco industry is naturally seeing spikes in voice, data, and broadband services.

Scope of the Report

Telecom cloud is actually a new advancement in information and communication technology, where there is no use of hardware to get connected. It provides unlimited network capacity to manage the unpredictable data growth and offer a superior customer experience.Cloudification considers the conversion of applications, data storage, and compute cycles that benefit from cloud computing. The market study categorizes the telecom cloud market into by type, application, cloud platform, end user, and geographic analysis, throughout the forecast period.

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Key Market Trends

Solution Expected To Dominate the Telecom Cloud Market

• The solution offerings in the market include unified communication and collaboration, content delivery network, and other solutions. This is majorly owing to the increasing internet and mobile device penetration.
• With this, businesses increasingly acknowledge the need to leverage advanced technologies, in order to improve business agility and gain operational efficiencies.
• They are deploying a broad array of communications and collaboration applications, including telephone, email, voice mail, and unified messaging, instant messaging (IM) and presence, audio, web, and video conferencing, file sharing and white-boarding, mobility, social networking, and more. 
• Additionally, the exponentially rising media content and demand for rich video content among the increasing online users, along with the trend of digitization among the organizations across end-user verticals spurs the need for content delivery network solutions.

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