Telecom Managed Services Market to Reach $47.07B by 2028
Due to the growing importance of managing core business and core activities within an organization and the application of different cost-effectiveness measures, demand for telecom-managed services has increased exponentially. The global Telecom Managed Services Market size was valued at USD 16.80 billion in 2020 and is projected to reach USD 47.07 billion by 2028, growing at a CAGR of 13.72 % from 2021 to 2028 Verified Market Research recently published.
Managed services are used for outsourcing the management duties and activities of an organization. The major aim of using managed services is to reduce the overall cost involved in internal management and the workforce required to carry out these tasks. Telecom-managed services typically provide telecom solutions that are required for performing various operations in an organization. This allows the organization to focus on its core business and core activities. Such services assist the players in the telecom industry by providing enhanced communication, enhanced team collaboration, improved flexibility, comprehensive reporting, etc.
Telecom companies are also widely adopting telecom-managed services due to the operational effectiveness and security provided by such services.
During the forecast period, the operational effectiveness and security and the cost-effective benefits of telecom-managed services are expected to drive the global telecom-managed services market. The growing data center industry and the demand for telecom-managed services by these companies are one of the primary factors in market growth. The number of data centers is increasing rapidly as a huge amount of data is being generated through the excessive use of social media and the internet by the global population. This has also increased the demand for telecom-managed services.
Telecom Managed Services Market Key Players
The major players in the market are Ericsson AB, NTT Data Corporation, Huawei Technologies Co Ltd, Comarch SA, IBM Corporation, GTT Communications Inc, Verizon Communications Inc, Sprint.Com, AT&T Inc., Cisco Systems, Inc., Centurylink, Tech Mahindra Limited, Amdocs Inc., Unisys.
