As Services Become Internet Oriented, Can Global Telecom Cloud Market Shine?

According to TechSci Research report, “Global Telecom Cloud Market , Competition Forecast & Opportunities, 2012 – 2022”, global telecom cloud market is the next big thing in IT, given that telecom companies are increasingly turning their focus towards providing cloud services and increasing demand for content delivery, unified communications and collaboration, etc., from various end use industries.

Here are some key takeaways from the report on the future of the global telecom cloud market

Global Telecom Cloud Market: An Overview

A fast-growing segment of the IT industry, TechSci predicts that the global telecom cloud market will grow by nearly 20% year on year over the next 5 years. Growing demand of telecom cloud services and solutions from media & entertainment, healthcare etc. is the major factor for this rapid growth.

Of course, rising internet penetration and subsequent internet literacy are the primary reasons behind the rise of global telecom cloud market as well. As of 2014, nearly 3.01 billion people were connected to the internet; the number rose to 3.29 billion in 2016, with no end in sight.

Given the usage of global telecom cloud market services and solutions in areas such as billing, traffic management, customer management etc., it stands to reason that rising internet penetration rate will also surge the demand for such services, thus positively impacting the global telecom cloud market.

APAC is one of the fastest growing regions in the global telecom cloud market, and China alone accounts for 19% of the total APAC market share. Given the positioning of the worlds’ two most populous and fastest growing countries in the region, it makes sense that APAC can become the leading demand generator over the next few years.

Global Telecom Cloud Market: Focus on Healthcare

Among the myriad uses of global telecom cloud market services, perhaps the most important is its usage in healthcare. TechSci estimates that the global telemedicine market was valued at over $20.3 billion in 2016, and will grow to nearly $47 billion by 2022. Leveraging telecom cloud services for telemedicine, TechSci experts suggest, could be beneficial for both enterprises.

Another TechSci Research report “Europe Healthcare IT Services Market, Competition Forecast & Opportunities, 2012 – 2022” which tangentially also deals with the aspect of telemedicine, is itself growing at a robust pace. This implies the potential for growth vis a vis healthcare in the global telecom cloud market.

As per the report, Europe healthcare IT services market was valued at $14.43 billion in 2016, and is forecast to grow at a CAGR of 7.63%, in value terms, during 2017-2022, to reach $22.87 billion by 2022. If global telecom cloud market can harvest even a chunk of this, then healthcare can potentially become the major demand generator for the industry.

This above example provides a simple illustration of the growing usage of such internet based services in daily life. Given its usage in BFSI, retail & consumer, media & entertainment, transportation, etc., the potential for global telecom cloud market is limitless.

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