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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