In a recent published report, Kenneth Research has updated the market report for Global Telecom Service Assurance Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Telecom Service Assurance Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Global Telecom Service Assurance market enhances end user experience by improving service quality. With the growth in network technologies, cloud based computing, Data services etc. the need to monitor the Quality of service, measure the rate of degradation and detect traffic information also arose. Therefore, Global Telecom Service Assurance market currently enjoys two digit annual growth.
Global Telecom Service Assurance market is driven by cost savings, growing subscriber base and optimisation. Network performance monitoring is growing at the highest CAGR because of its ability to measure irregularities in network connection besides measuring Quality of Service. Likewise, Professional Services is also growing at a substantial rate, this service is born out of the need to install, plan, operate and maintain telecom service assurance software.
The challenges include resistance to change/replace the existing operational model, adopt new technologies, invest and bear the high instalment cost associated with it. Another concern that exists is the Data Privacy issue while operating with legacy systems and enterprises.
The Global Telecom Service Assurance market can be segmented on the basis of: Deployment Type, Solutions, System, Service and Organization size. On the basis of Solutions, it is of two types, Software and Services. Services are in turn divided into System Integration, Maintenance, Consulting and Operations.
Deployment types can be segregated into On-Premise and Hosted. On the basis of System, Telecom Service Assurance comprises of Workforce Management, Probe Monitoring, Fault and Network Management etc. The highest growth can be attributed to Managed Services segment; this is because of IT and Business Processes outsourcing by small and medium enterprises (SMEs), which helps then to focus on their core business and not on IT Operations.
North America, Europe, and the Asia Pacific are the Global Telecom Service Assurance Markets. North America currently accounts for the highest market share and its expansion is driven by innovative solutions that standardize the business models of LTE networks. Asia Pacific region promises the highest market growth in the upcoming years. The reason for this exponential growth in the Asia Pacific region is its huge customer-subscriber base. Also, there exist operational complexities owing to its diverse population and network lines; therefore there lies the need and opportunity for standardization in the APAC region too.
The major challenge that the service providers face is that of standardization, due to the presence of many vendors. Also, the providers are looking for support and integration. The competition in developed regions is also very much, therefore, there exist immense opportunities in standardizing and streamlining the services. Another silver lining is the emergence of new and complex technologies which can be served by the telecom service assurance market.
Some of the major players in the market include CA Technologies, Hewlett Packard Enterprise (HPE) Company, Nokia Corporation, IBM, Huawei Technologies Co. Ltd., Ericsson, NetScout Systems Inc., Spirent Communications PLC etc.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
The Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market Dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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