The global telecom service assurance market size is estimated to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing mobile internet subscribers.
Telecom service assurance is defined as procedures, policies, and processes implemented by communications service provider in order to ensure that services offered over networks meet pre-defined quality level for optimal experience to consumers. The cloud-based solutions are expected to be adopted to a larger extent as it increases flexibility, reduces maintenance costs, and are deployed in a short time.
The COVID-19 pandemic has positively impacted the telecom sector. The global lockdown has resulted in fixed broadband networks, which has been primarily supported by digitization. The network traffic grew in large amount, further driven by working from home trend, which led to video conferencing, learning from home, which increased collaboration, video conferencing, and number of e-learning platforms), and entertainment, which boosted video streaming, online gaming, and social media marketing.
Increasing investment for 5G deployments is anticipated to drive the market growth. For instance, operators in Asia Pacific are investing billions of dollars on 5G deployments. Rising number of Internet of Things (IoT) connections is estimated to increase the scope of growth for the telecom service assurance market.
Market Trends, Drivers, Restraints, and Opportunities
Tremendous growth in wireless data traffic is expected to drive the market growth.Exponential growth in the cloud traffic and global Internet protocol (IP) traffic are estimated to contribute to the growth of the market during the forecast period.Increasing demand for operators to automate network operations due to high customer churns is estimated to facilitate the market development in the coming years.Growing concerns regarding the payment and security of data are rising due to the increasing amount of data being generated, which can create lucrative opportunities to the market development.Rising complexities in communication network ecosystem by 5G technology and (IoT) are anticipated to offer huge market opportunities for industry players in the projected timeline.Key Players
IBM CorporationCisco Systems, Inc.EricssonAccenture PLCHewlett-Packard CompanyCompetitive Landscape
Key players competing in the telecom service assurance market are IBM Corporation; Cisco Systems, Inc.; Ericsson; Accenture PLC; and Hewlett-Packard Company.
Some of the organizations are focusing on research and development to adapt the new wave of intelligence age, while others are developing cloud native experience and assurance software to assist their clients.
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