Telecom Managed Services Market expected to reach USD 22.58 billion by 2022

(IT-NEWSWIRE.COM, November 20, 2019 ) MarketsandMarkets™ forecasts a new market research report on “The telecom managed services market size is estimated to grow from USD 11.90 billion in 2017 to USD 22.58 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.7%. Telecom managed services enables Communication Service Providers (CSPs) to successfully encounter the ever changing business, technology, and customer requirements. Managed services also provide real-time customer experience while enhancing their service agility, operational efficiency, and profitability. Telecom managed services enables service providers around the world to improve their BSS/OSS operations that include revenue assurance, fraud management, asset assurance, cost management, and others.

Browse 79 market data tables and 72 figures spread through 146 pages and in-depth TOC on "Telecom Managed Services Market by Service Type (Managed Data Center, Managed Network, Managed Data and Information, Managed Mobility, Managed Communication, and Managed Security), Organization Size, and Region - Global Forecast to 2022"

The managed mobility services segment in the telecom managed services markets is projected to grow at the highest rate during the forecast period. Enterprise mobility is prevalent in the organization due to the increasing trend of BYOD and Corporate Owned Personal Device (COPD) across the globe. It is very important for the enterprises to have more focus towards the management and security of mobility devices. The key trends which are driving this market include growing consumption in productivity applications, workforce decentralization, globalization of business, prominence of cloud-based enterprise mobility management, and robust environment for smartphones and tablets across organizations

The SMEs segment is expected to grow at the highest CAGR in the telecom managed services market during the forecast period. With the increasing number of SMEs worldwide, the requirement of managed services is also increasing. The SMEs has the limited in-house network and IT infrastructure capabilities, therefore, they mostly prefer to outsourced managed service from service providers. Managed services have become the central part of the business process due to its flexibility and ease of use and are expected to grow in the coming years.

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Small and Medium Sized Enterprises (SMEs) will dominant the telecom managed services market by 2022

Among organization size, the SMEs segment is expected to grow at the highest rate in the telecom managed services market during the forecast period. The SMEs are strongly adopting managed services for managing and operating their enterprise infrastructure including network implementation, data center management, mobility, and security services. Security and compliance and reduction in downtime and operational expenditure are some of the major benefits SMEs are experiencing through the adoption of managed services.

Asia Pacific (APAC) region is expected to grow at the highest rate in the telecom managed services market

APAC is expected to show the highest growth during the forecast period; the region has encompassed both developed and emergent economy such as Australia, Japan, Korea, India, and New Zealand. China and India are rapidly growing in terms of technology adoption and foreign direct investment. The integration of advanced technologies such as Long Term Evolution (LTE), IoT, and mobility are widely implemented across the region. The growth in APAC is mainly driven by increasing internet and mobile services and establishments of new data centers in China, India, Singapore, and Australia.

The major vendors in the telecom managed services market are Amdocs (US), AT&T (US), CenturyLink (US), Cisco Systems, Inc. (US), Comarch S.A. (Poland), Ericsson AB (Sweden), GTT Communications, Inc. (US), Huawei Technologies Co., Ltd. (China), IBM (US), NTT Data (Japan), Sprint.com (US), Tech Mahindra (India), Unisys (US), and Verizon (US).

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Telecom Managed Services Market expected to reach USD 22.58 billion by 2022