Allied Market Research published a new report, titled, “B2B Telecommunication Market Growing at CAGR of 14.8% Reach USD 181.35 Billion by 2030.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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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Driving Factors
The growth of the global B2B telecommunication market is attributed to growing adoption of Internet of Things and increasing pace of industrialization and urbanization across the globe. Moreover, increasing demand for B2B telecommunication from governmental and private entities will expand the scope of the market. However, privacy and security concerns with respect to B2B telecommunications might restrain market growth. Nevertheless, integration of B2B telecommunication with novel technologies will generate ample investment opportunities in the market.
Market Segmentation
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 market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players
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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Based on region, the North America B2B telecommunication market generated the highest revenue in 2020. Rising adoption and implementation of IoT and cloud-based products is expected to result in the expansion of the segment. On the other hand, the market in Asia-Pacific is expected to grow at a CAGR of 16.1% in the analysis timeframe. The availability of high-speed communication networks in several countries of this region will ultimately augment the growth rate of the market.
Based on enterprise size, the SMEs segment is likely to showcase a CAGR of 15.9% during the 2021-2030 period. The growth of this segment is on account of the growing need to improve telecommunication systems among small and medium-scale enterprises. On the other hand, the large enterprise segment accounted for the highest revenue in 2020. The important role played by B2B telecommunication in offering help in auto-attendant and calls transferring services might become the main growth driver of the market.
On the basis of industry vertical, the BFSI segment held the highest market share in 2020 with nearly one-fourth of the global B2B telecommunication market. The ability of B2B telecommunications to offer a solution to leading banks to process unique transactions is expected to boost the growth of this segment. On the other hand, the media and entertainment segment is predicted to have the fastest CAGR of 17.7% during the forecast period. The secure communication solution provided by B2B telecommunications enables media houses connect with corporate media houses. This has increased the popularity of B2B communication which is expected to propel the growth of this segment.
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Key Findings of The Study
By enterprise size, the large enterprise segment accounted for the largest B2B telecommunication market share in 2020.
Region wise, North America generated highest revenue in 2020.
Depending on solution, the cloud services segment generated the highest revenue in 2020.
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