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WILMINGTON, DE, UNITED STATES, March 6, 2024 /EINPresswire.com/ -- The global telecom cloud industry size was valued at $18 billion in 2020, and is projected to reach $125 billion by 2030, registering a CAGR of 21.8% from 2021 to 2030.
Strong presence of numerous vendors such as Microsoft Corporation, Oracle Corporation, Amazon.com Inc., and International Business Machines Corporation and adoption of new cloud technologies by telecom vendors such as AT&T are expected to foster the global market growth. In the U.S., companies have emphasized on digital transformation and are often considered among the early adopters of the latest generation technologies such as IoT, big data analytics, artificial intelligence (AI), machine learning, and telecommunication technologies such as 4G, 5G, and LTE. The continued adoption of the latest technologies by the U.S. enterprises notably contributes toward the growth of the telecom cloud market analysis. As per AMR analysis, the telecommunication industry is expected to record the highest demand for cloud solutions. Driven by the increasing adoption of digital operations and surging demand for efficient storage of large data sets, the sales in the segment is estimated to rise
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The rapid expansion of IT organizations and the telecommunications industry is driving the global telecom cloud market forward. A key catalyst for this growth is the modernization of information technology, which involves leveraging cloud services and optimizing resource utilization for enhanced efficiency. As the IT landscape evolves, organizations are increasingly adopting telecom cloud solutions to meet their growing needs and stay competitive in a rapidly changing environment.
Amid the COVID-19 pandemic, the demand for telecom cloud services surged as lockdown measures forced individuals to stay at home and businesses to transition to remote work setups. This unprecedented shift resulted in a significant increase in data consumption, further fueling the demand for telecom cloud deployment. Despite the challenging circumstances, the telecom cloud market demonstrated its resilience and ability to meet the escalating demands of the digital era.
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The telecom cloud market is poised for exponential growth, with its capacity to generate demand even in critical situations contributing to the expansion of the global market economy. The continuous advancements in telecom cloud technology will drive cost-saving measures and foster innovation, ensuring that organizations remain agile and responsive to evolving market dynamics.
Region wise, the market was dominated by North America in 2020. However, Asia-Pacific is expected to witness significant growth in the coming years.
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The worldwide pandemic outbreak and the subsequent chain of lockdowns changed the global telecom sector. During this time, telecom networks saw tremendous traffic, and demand for more telecom bandwidth was at an all-time high. With the aftereffects of the COVID-19 pandemic, the global telecom sector was set on a path of technological transformation to help handle the increasing demands of its consumers. Adoption of next-generational communication technologies such as 5G network deployments were ramped up in many parts of the globe and automation of services were prioritized.
Some of the key companies profiled in the telecom cloud industry are Microsoft, Aws, Google, Oracle, IBM, At&T, Verizon, Dell, Etisalat, and Telstra.
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