Globally, North America made the largest contribution to the market in 2021. This was primarily due to increasing demand for high bandwidth, rapid deployment of cellular networks and increased adoption of cloud services in the region.
Factors such as the increasing need for strong network connectivity and the rapid adoption of advanced technologies by enterprises will help the telecom consulting market to advance at a robust CAGR of 11.8% between 2021 and 2030. Accordingly P&S Intelligence, the industry was valued at US$5,307.2 million in 2021 and will generate US$14,519.6 million in revenue by 2030. In recent years, the rapid digital transformation of business units has become a major market trend as digitization has transformed the way companies interact with their customers and conduct their internal processes.
The increasing need for strong network connectivity is one of the key growth drivers of the market as improved connectivity is vital for the smooth functioning of large enterprises. The prominent role of strong network connectivity can be attributed to the effective communication it provides. In addition, stable connectivity helps business organizations access corporate data from anywhere with robust security standards. To achieve these goals, companies are increasingly turning to telecommunications consulting services and solutions.
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In addition, the increasing adoption of cutting-edge technologies by companies will also drive the global growth of the telecom consulting market. In this era of digitization, companies are largely focused on the adoption of AI, ML and IoT technologies as the use of these technologies has led to the development of telecom consulting for cloud transformation. Today, major telecom companies are adopting new generation technologies to facilitate network expansion and reduce operational costs.
The cloud services within the application segment accounted for the largest share in the telecom consulting industry in 2020. This was due to the increasing demands for agility and rapid scalability of applications and software. In contrast, the unified communications category is expected to show the fastest growth this decade. This is due to the ability of Unified Communications to give an agent the ability to respond to customers from anywhere.
Currently, the telecom consulting industry is consolidated due to the presence of several major players such as Bain & Company Inc., Accenture PLC, Boston Consulting Group Inc., Tata Consultancy Services Limited, Wipro Limited, KPMG International Limited, Deloitte Touche Tohmatsu Limited and IBM Corporation. Today, these companies are involved in partnerships and collaborations to consolidate their position. For example, in October 2021, Stellants, TIM and Accenture PLC agreed to implement a private 5G network pilot at a Stellants manufacturing facility in the automotive hub of Goiana, northeastern Brazil.
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Globally, the North American telecom consulting market is expected to generate the highest revenue this decade. This will be due to the presence of prominent market players, the rapid deployment of mobile networks, the rising demand for high bandwidths and the increasing adoption of cloud services in the region. However, due to increasing enterprise investments in data security and cloud-enabled solutions, the APAC market is expected to show the fastest growth in the coming years.
Therefore, increasing demand for strong network connectivity and increasing deployment of new generation technologies will complement the market growth.
Telecom Consulting Market Size Breakdown by Segment
By network type
- planning and advice
- Operation and maintenance
- systems integration
- cloud services
- Unified communication
- Fault Tolerant Ethernet (FTE)/Long-Term Evolution (LTE)/Fiber to the Home (FTTH)/4G/5G
- intelligent grid
- Mobile broadband
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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Global 5G infrastructure market – Geographically, North America has dominated the 5G infrastructure market in recent years and it is forecast to grow strongly in the coming years as well. This is attributed to increasing investment by regional governments in 5G infrastructure.
Global Optical Networking and Communications Market – The Asia Pacific region dominated the optical networking and communications market and is expected to register the highest CAGR during the forecast period as well. Optical networks are mainly used for the development of broadband services.
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