The Telecom Service Assurance Market revenues were estimated at US$ 6.5 Billion in 2021 and is anticipated to grow at a CAGR of 8.8% from 2022 to 2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 16.6 Billion.
To fulfil current customer expectations and increasing commercial prospects, telecom operators throughout the world must adapt swiftly and stay up with rapid innovation. Furthermore, as a consequence of the increasing acquisition of enterprises, the emergence of new technologies, and the development of organisational structure, improvements in operations support system (OSS) settings are resulting in a collection of independent silos that rely on manual procedures.
Furthermore, the introduction of 5G, virtualization, and the Internet of Things (IoT) technologies are allowing network and service management automation, which aids in the optimization of silos and the effective administration of service assurance. Apart from that, the increasing adoption for telecom power systems, owing to the major expansion of telecom infrastructure in rural regions, is having a favourable impact on the market, as is the rising popularity of wireless systems.
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Also, Increasing global IP and cloud traffic solutions, as well as increased communication network complexity, may boost the Telecommunication Services Assurance industry.
As Portuguese company clients seek more cloud services, demand for popular schemes such as low-latency connectivity and datacenter interconnection (DCI) is growing. Increase capacity in the mid-band for both mobile phone and fixed wireless access consumers may support the Telecom services.
Meanwhile, internet and mobile infrastructure are still in the early stages of development, and the mobile workforce, as well as BYOD, is gaining, necessitating device monitoring, which will support the rise of telecom service assurance. In 2025, mobile penetration in APAC will rise from 67 percent in 2015 to 73 percent. As per the Global System for Mobile communications Association, mobile broadband penetration will increase from 41% in 2015 to 64% in 2025.
Key Takeaways from the Market Study
- Global Telecom Service Assurance Market is expected to reach a market size of US$ 7.1 Billion by 2022.
- The Solution segment, is expected to have the highest CAGR rate of 9.1% during the forecast period.
- United States to remain the most dominant market with absolute dollar growth opportunity of US$ 5.8 Billion during 2022 – 2032.
- The market in United States is set to experience the highest CAGR of 8.6% during the 2022-2032 forecast period.
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“The increased utilization 5G technology, digitalization, and the Internet of Things (IoT) innovations, as well as the massive development of telecom infrastructure in rural areas by big enterprises, will boost Telecom Service Assurance market trends in the next years..” comments a Future Market Insights analyst.
Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Telecom Service Assurance Market are focused on R&D to produce innovative technological solutions.
- In May 2019, Nokia telecom has been selected by ONI Telcom to provide 10G services in important Portuguese cities. Nokia will provide SLAs for retail company and wholesale data centre connections as well as cloud services to ONI clients.
- In July 2018, IBM and NETSCOUT collaborated to include NETSCOUT’s network analytics technologies into IBM’s telecommunications analytics package.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Telecom Service Assurance Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Telecom Service Assurance Market across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Market Segments Covered in Telecom Service Assurance Market Analysis
By Component;
- Solution
- Services
By Operator Type:
- Mobile Operator
- Fixed Operator
By Organization Size:
- SMEs
- Large Enterprise
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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