NEW YORK, Jan. 27, 2022 /PRNewswire/ -- From an estimated
$5,307.2 million in 2021, the
telecom consulting market value is set to reach
$14,519.6 million by 2030, witnessing
an 11.8% CAGR between 2021 and 2030. Key players in the industry
are Bain & Company Inc., L.E.K. Consulting LLC,
Telefonaktiebolaget LM Ericsson, Boston Consulting Group Inc.,
Capgemini Services SAS, McKinsey & Company, Wipro Limited, CGI
Inc., Accenture PLC, Tata Consultancy Services Limited, Atos SE,
International Business Machines Corporation, Deloitte Touche
Tohmatsu Limited, KPMG International Limited, and Ernst & Young
Global Limited.
Apart from merely planning and consulting, these firms offer
system integration and operations and maintenance services to
telecom operators worldwide. Among these, the demand is the highest
for planning and consulting, because of the changing network
demands of people, which is making telcos adapt their own systems.
Thus, they are engaging consultants to offer expert advice, analyze
their existing systems, and help them enhance their network
coverage with maximum cost saving.
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Key Findings of Telecom Consulting Market Report
- The adoption of artificial intelligence, online news, TV, and
gaming; digital personal assistants, connected and autonomous
vehicles, digital baking and shopping, and other virtual solutions
is driving telcos to enhance their network connectivity, which is
why they are engaging consultants.
- In this regard, the rapid rollout of 5G is the strongest
telecom consulting market growth driver. Telecom companies will
need to quickly and cost-effectively enhance their existing
infrastructure, add new towers, and adopt artificial intelligence
to predict peak traffic, forecast end user distribution, and
enhance network capability.
- This is also why most telecom companies avail consulting
services as the first step in the installation of new wireless
networks and the enhancement of the existing ones.
- Most of the requests for telecom consulting services are made
for cloud services, which have revolutionized the IT sector by
allowing companies and individuals to store their data and access
advanced software on third-party servers.
- North America generates much
of the telecom consulting market revenue as its telecom and IT
sectors are undergoing swift technological advancements, especially
with the rollout of 5G networks.
- The fastest-rising demand for consulting services will be
witnessed among the telcos of the Asia-Pacific (APAC) region, where an
increasing number of people are getting connected to the internet
and demanding faster network speeds and low latency.
Browse Detailed Report on Telecom Consulting Market
Size, Share, Development, Growth and Forecast Report,
2030
As the services offered by the market players are highly
technical and require immense skill and knowledge for their
dispersal, the industry is consolidated, with only established
consulting companies operating in it. The players at the top have
extensively engaged in collaborations and partnerships, service
launches, and mergers and acquisitions to enhance their offerings
and gain the trust of more customers.
These measures of telecom consulting market players are being
encouraged by the rapid digital transformation of businesses across
all industries. This is leading to the changing demands of
companies with respect to networks and connectivity. With
individuals and entities in all corners of the world demanding
higher download and data transmission speeds with low latency,
telecom companies are being compelled to work with consultants to
enhance their services.
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Network Telemetry Market - Geographically,
North America dominated the
network telemetry market in the recent past, and it would
demonstrate notable growth in the forthcoming years. This can be
primarily credited to the presence of a large number of network
telemetry solutions providing companies, such as Netronome Systems
Inc., and Cisco Systems Inc., Arista Networks Inc., and Cisco
Systems Inc., in the region.
5G Infrastructure Market - In the preceding
years, North America dominated the
5G infrastructure market due to the hefty investments made by the
governments of the regional countries in 5G infrastructure
development. For instance, the Canadian Wireless Telecommunications
Association estimates that $26
billion will be spent on 5G infrastructure development in
Canada between 2020 and 2026.
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