Published Date: 26-May-2023
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According to a new report, published by KBV research, The Global Enterprise Telecom Services Market size is expected to reach $1046.7 billion by 2029, rising at a market growth of 6.2% CAGR during the forecast period.
The Wireline segment is showcasing a CAGR of 6.9% during (2023 - 2029). Wireline telecom services use data lines or cables to connect services to the company location. The growth of the wireline market may be attributable to the several advantages that wireline connectivity offers, including infrastructure, dependability, flexibility, and coverage. Businesses can use landline communication when wireless infrastructure is unreliable or inconvenient. Since wireless connectivity cannot handle the large volume of data needed in large or open areas like factories or industrial sites.
The IT & Telecom segment acquired maximum revenue share in the Global Enterprise Telecom Services Market by Vertical in 2022 thereby, achieving a market value of $221.2 billion by 2029. A significant and growing development in the IT and telecom services sector is the widespread implementation of 5G networks. In order to enable new IoT, AR/VR, and autonomous vehicle use cases, 5G technology offers faster speeds, reduced latency, and more network capacity. The need for telecom services in IT & telecom applications is rising as next-generation high-speed networks are deployed.
The Large Enterprises segment has shown the growth rate of 6.9% during (2023 - 2029). Large businesses must constantly change their products and work environments to keep up with the escalating competition in virtually every industry. Large businesses are embarking on digital transformation to acquire a competitive edge, and automation, cloud computing, machine learning, and AI play a significant role. The adoption of telecom services is now afforded enormous prospects as a result. Large businesses are also looking to connect to increase speed and efficiency in healthcare, the automobile industry, and manufacturing.
The Fixed Internet Access Services segment is leading the Global Enterprise Telecom Services Market by Service in 2022 thereby, achieving a market value of $424 billion by 2029. Businesses are looking for faster and more trustworthy Internet connections as they depend more and more on the Internet for work, learning, and leisure. Because fixed internet access providers provide faster and more reliable internet connections, businesses are switching to them. Furthermore, the market for fixed internet access services is expanding due to rising online service popularity, ongoing technological improvements, and greater government initiatives to promote fixed broadband services.
The Asia Pacific market dominated the Global Enterprise Telecom Services Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $381.3 billion by 2029. The Europe market is poised to grow at a CAGR of 5.7% during (2023 - 2029). Additionally, The North America market would showcase a CAGR of 5.5% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/enterprise-telecom-services-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of AT&T, Inc., Verizon Communications, Inc., Comcast Corporation, Charter Communications, Inc., Lumen Technologies, Inc., Cox Communications, Inc., Altice USA, Inc., Frontier Communications Parent, Inc., Windstream Holdings, Inc., and KT Corporation.
By Enterprise Size
Unique Offerings from KBV Research
North America Enterprise Telecom Services Market size & Opportunities 2023-2029
Europe Enterprise Telecom Services Market & Growth Forecast 2023-2029
Asia Pacific Enterprise Telecom Services Market Share & Industry Outlook to 2029
LAMEA Enterprise Telecom Services Market Growth, Trends & Forecasts 2023-2029