Market Analysis
Market Research Future has published a detailed report on the global policy management in telecom market stating that the market is set to gain a valuation of approximately USD 1606.95 million by 2023. The CAGR is estimated to be 11%, which is accounted to be an encouraging rate of growth in recent years.
The policy management includes implementing rules and regulations for controlling the complex networks and systems. It is necessary for telecom service providers to maintain their network assets, quality of bandwidth services and maintaining the integrity of the network, and competitive pricing model. Hence, the telecom operators manage their policies with the help of policy management solutions.
As observed, the low operating expenses of telecom operators and increased adoption of tailored policy management solutions are powering the growth of global policy management in the telecom market.
Top Factors Impacting Policy Management in Telecom Market
The growth of the market for policy management in telecom is backed by many factors that have impressively impacted it and encouraging the market to rise high than in past decades.
The upcoming deployment of cloud-based policy management systems by telecom operators, rising revenue generation for telecom operators, and increased implementation of integrated policy management systems by telecom operators are some critical factors driving the market.
Furthermore, the increasing number of telecom subscribers and maintaining profitable operations to continue reliable services to the customers can be highly helpful to be one of the essential growth factors for this market.
However, strict implementation of various telecom regulations across the globe will restrain the market growth of policy management in telecom.
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Policy Management in Telecom Market Segmentation
In the reports by MRFR on policy management in the telecom market has stated about all-inclusive segmentation, which is done based on components, deployment, organization size, and network type.
By mode of the component, the market is segmented as software and service, and it includes managed service and professional service. The reports suggest that managed services can also be defined as active supervision of an information technology asset or object, by a third party MSP. The key hacks contributing to the growth of the managed services are the rise in digital information, security, increasing trend devices, flexibility to match customer requirements, continuous upsurge independency over heterogeneous networks, and persistent growth in the complexity of technological solutions.
By mode of deployment, the market is segmented into the cloud and on-premise. Of these, cloud solution accounts for the highest market share. The enterprises are benefitted by minimizing the cost associated with the IT infrastructure. It provides enterprises of data protection and security, efficiently manage storage and privacy issues, data integrity and provides information related to managing business activities. All these factors are increasingly supporting overall Policy Management in Telecom Market Size with definite pull.
Regional Outlook
The regional analysis of policy management in the telecom market is being studied in the regions of Asia Pacific, America Europe and the rest of the world.
Of these, North America holds the highest market share in policy management in telecom market owing to the presence of significant telecom operating providers, advanced network infrastructure and adoption of highly advanced technologies. All these factors are boosting the demand in this region.
Asia Pacific is expected to be growing at the highest CAGR in the policy management in telecom market owing to the increasing subscription and increasing data traffic. Also, there has been a noticeable increase in Smartphone users coupled with the rising in digitalization is also contributing outwardly in boosting the market with a promising future.
Key Players:
The prominent players in the policy management in telecom market are – LM Ericsson Telephone Company (Sweden), Huawei Investment & Holding Co., Ltd. (China), Nokia Corporation (Finland), Amdocs Limited (U.S.), Oracle Corporation (U.S.), Astea International Inc. (U.S.), Comarch Sa. (Poland), Wipro Limited (India), Intracom Telecom (Greece), Genpact (U.S.) and others.
Industry News
Sprint Corporation (NYSE: S) is a communications services company, announced that it had reached a significant milestone on its path towards launching mobile 5G service beginning in the first half of this year. Together with Nokia and Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, the companies recently completed the world's first over-the-air 5G data transmission using 2.5 GHz and Massive MIMO on Sprint's live commercial network.
Telefonaktiebolaget LM Ericsson enables communications service providers to capture the full value of connectivity. Recently, Ericsson and Intel Corporation have begun a multi-year collaboration to align ongoing development efforts in software-defined infrastructure (SDI) and Intel® Rack Scale Design. The resulting next-generation infrastructure management platform will deliver a new level of cloudlike agility, transparency and efficiency required for Network Functions Virtualization (NFV), distributed cloud, and 5G. Lars Mårtensson, Head of Cloud & NFV infrastructure.
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Policy Management in Telecom Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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