The global telecom enterprise services market is growing by leaps and bounds. The massive rise of micro, small, and medium-size enterprises (MSMEs) globally is propelling the demand for telecom enterprise services significantly.
According to a report published by Transparency Market Research (TMR), the worldwide telecom enterprise services market generated US$148.7 bn in 2014. Analysts predict this market to expand at a CAGR of 4.10% between 2015 and 2023 and reach an estimated value of US$217.9 bn by the end of 2023.
The rising investments in emerging countries, supported by their improving economic condition, and the increase in enterprise IT spending across the world are projected to boost this market in the forthcoming years.
North America to Retain Leadership in Global Telecom Enterprise Services Market
North America generated the highest revenue in the global market for telecom enterprise services in 2014. The presence of a large pool of telecom services providers, as well as the rising number of small- and medium-size enterprises and startups, has significantly driven the telecom enterprise services market in North America. These trends are likely to be continued in the coming years, ensuring the dominance of this market in future.
Asia Pacific, on the other hand, is likely to register the fastest growth rate in the global market. The robust GDP and improving economic conditions in major countries in the region and the refurbishment of small and medium industrial firms and manufacturing companies are projected to drive the demand for telecom enterprise services over the next few years.
Latin America and the Middle East and Africa are also expected to present lucrative opportunities to telecom enterprise services providers, encouraging them to invest in these regional markets.
Mergers, Acquisitions, and Introduction of New Services to Strengthen Providers’ Presence
Mergers, acquisitions, and partnerships are the topmost strategies adopted by telecom enterprise services providers in order to expand their reach in the global arena. Introduction of new services is another important approach taken up by major companies.
In a recent announcement, Hong Kong Broadband Network (HKBN), a fiber optic telecom company, stated that it is purchasing New World Telephone Holdings Ltd. (NWTHL). The deal, aimed at strengthening the presence of HKBN in the enterprise segment, will cost US$83.6 mn.
Nokia, one of the world’s biggest telecom equipment manufacturers, is also spreading its legs in the global telecom enterprise services market. It recently launched cloud transformation services and data centers in India. With this move, the company intends to enable telecom services vendors to provide cloud-based enterprise services in the Indian market.
Telarus, Intracom Telecom, Converged Network Services Group, Intelisys Communications, X4 Solutions, Advoda Communications, WTG Technologies, Telecom Brokerage, Telecom Brokers, and Business Communications Management are the other prominent telecom enterprise services providers across the world.
Browse the full Market Research Report at- http://www.transparencymarketresearch.com/telecom-enterprise-services-market.html