As per the Allied Market Research report, the global B2B telecommunications industry was pegged at $46.36 billion in 2020 and is estimated to generate $181.35 billion by 2030, growing at a CAGR of 14.8% from 2021 to 2030.

Major determinants of the market growth

The rise in adoption of IoT, surge in need for B2B telecommunication among governmental & private organizations, and increase in urbanization & industrialization across the globe drive the global B2B telecommunication market. However, the high implementation cost of B2B telecommunications and privacy & security concerns hinder market growth. On the contrary, the integration of novel technologies would unlock new opportunities for market players in the future.

Covid-19 scenario:

• The COVID-19 pandemic encouraged the demand for B2B telecommunications due to lockdown restrictions imposed by the government and adoption of work-from-home culture.
• The majority of the companies adopted B2B telecommunication to transmit information in several forms, including voice, sound, text, and video.

The SMEs segment to portray the highest CAGR through 2028

By enterprise size, the SMEs segment would register the highest CAGR of 15.9% during the forecast period, owing to the presence of small and medium-scale organizations and rise in need to enhance telecommunication systems among the SMEs to increase their business reach. However, the large enterprise segment held the largest share in 2020, accounting for nearly two-thirds of the global B2B telecommunication market, as it helps in auto-attendant and call transfer.

The BFSI segment held the lion’s share b2b telecommunication

By industry vertical, the BFSI segment dominated the market in terms of revenue in 2020, contributing to around one-fourth of the global B2B teIecommunication market, as it allows leading banks to securely process unique transactions as per business requirements in a day. However, the media and entertainment segment is projected to register the highest CAGR of 17.7% from 2021 to 2030, as it offers a secure communication solution, that enables media houses to contact big media houses and producers.

North America dominated the market in terms of revenue

By region, the market across North America held the largest share in 2020, contributing to around one-third of the market due to the increase in adoption of IoT and cloud-based products. However, the global B2B telecommunications industry across Asia-Pacific is anticipated to portray the highest CAGR of 16.1% during the forecast period, owing to the presence of several large-scale manufacturers and the availability of high-speed communication networks across the region.

Key market players B2B Telecommunication