Telecom Services Industry to Bounce Back in 2021 After Slowdown, Says Beroe Inc
Source: PR Newswire
RALEIGH, North Carolina, Feb 23, 2021 - The telecom services and enterprise networks market is expected to recover in 2021 with a growth rate of 1-1.5 percent, as per Beroe Inc.
Due to the pandemic – among other reasons – the global telecom market size contracted from $44.1 billion to $43 billion. This represents a contraction of 2.5 percent, primarily in the roaming, prepaid, and business services industries. However, growing demand will lead to the recovery of the telecom services industry, with a forecast telecom services market size of $43.43 billion at the end of the 2020-21 financial year. The telecom services market will take some further time to recover its pre-pandemic size.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE.Ai: https://www.beroeinc.com/beroe-live-ai/
Among fixed-line services, key trends revolve around the use of SIP Trunking. The effective design of SIP trunking minutes will be crucial to improving usage rates for fixed-line services. Additionally, improved session costs and diversification of the network through PRIs will be key to improving returns.
The latest buzzword in the telecom market has been 5G technology. This is widely recognized as the immediate future of communication, which is driven primarily by two applications. The first, mobile broadband, is witnessing an upsurge in the shift of both businesses and individuals toward cloud-based services. Additionally, regular services such as videos, conference calling, and conferencing have constantly been transitioning to higher-quality versions that require greater bandwidth. Secondly, the Internet of Things has massive machine-type communications and mission-critical applications driving its growth. Current 4G networks cannot handle the kind of large scale deployment of massive machine-type communications that 5G networks can. For mission-critical applications, the high reliability and low latency required can only be delivered through 5G networks.
With the usage of Huawei equipment being restricted worldwide, major telecom operators of the telecom services market have been transitioning from Huawei. Before the restriction came into effect, Huawei was the world’s largest telecom network that controlled 30 percent market share of global telecom. Due to the aforementioned restriction, the pace of China’s 5G expansion has dropped significantly. The major advantage of these restrictions could be availed by Nokia, Samsung, and Ericsson.
Among the major effects of the pandemic has been an increase in mobile devices within the enterprise network. This has led to an acceleration in the deployment of hybrid WAN and SD-WAN, helping support multiple endpoints connected through different technologies within one network, and further reducing the cost of enterprise-level WAN by 33-35 percent.
The deployment of unified communications is driven by artificial intelligence, mobility, cloud computing, and enterprise messaging. Among these, cloud-based unified communications are expected to control a 25 percent share. The use of artificial intelligence will benefit the telecom services market as a whole, especially in the unified communications field.
In this telecom industry trends analysis by Beroe, Inc., one will find much greater insights, backed by detailed data analysis telecom industry and its interpretation. Using the research on the telecom industry laid out in these reports, business owners can make better and more educated decisions about the interaction between their company and the market.
- The demand for bandwidth has been rising steeply, but telecom operators are getting stiff competition from OTT services.
- Improved session costs, better rates for usage, and diversification through PRIs could be key to better returns from fixed-line services.
- Mobile broadband, with an upward trend driven by emerging high bandwidth applications, and the Internet of Things, are the two key functions leading trends in 5G deployment.
- Major service providers have been transitioning away from Huawei, which could lead to a windfall for competitors such as Samsung, Ericsson, and Nokia.
- With the pandemic leading to an increase in the number of devices within the enterprise network, the deployment of Hybrid WAN and SD-WAN will be accelerated.
- The unified communications market is being led by applications in artificial intelligence, mobility, cloud computing, and enterprise messaging.
The report from Beroe includes
- Market forecast
- Key Trends - Fixed Line Services
- Trends Driving 5G Deployment and Services
- Service Providers Transitioning Away From Huawei
- Acceleration of Hybrid WAN and SD-WAN Deployment
- Deployment of Robust, Intelligent Unified Communications
- More statistics, analysis, and insights
About Beroe Inc.
Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 15 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
To learn more about Beroe Inc., please visit: https://www.beroeinc.com