Published: January 2022 | Report Code: 11929 | Available Format: PDF | Pages: 253
The global telecom consulting market is estimated to generate $5,307.2 million revenue in 2021, and it is expected to grow at a CAGR of 11.8% during 2021–2030. The key factors responsible for the growth of the market include the increasing requirement for strong network connectivity and rapid adoption of advanced technologies by businesses.
The COVID-19 infection has stepped into almost every country, due to which the number of infected patients has increased, which has strained the global healthcare ecosystem and resources. As a result, working from home and social distancing have become the norms, and the telecom sector is the unseen force driving this change. Individuals and societies are well connected and informed, with access to medical, financial, commercial, and other essential services, such as grocery shopping and education. The sector has become a key resource in keeping economies around the world moving during the lockdowns, by enabling business-critical connectivity and resilience and remote working arrangements. Therefore, a positive impact of the pandemic has been seen on the telecom consulting market.
The wireless category held the larger share in 2020 in the telecom consulting market, based on network type. This was primarily because of the flexible and adaptable nature of wireless networks, which means they are easy to transport and reinstall at another place.
The cloud services category generated the highest revenue in the market in 2020, based on application. This was primarily because of the increasing need for the agility and rapid scalability of software and applications, which are made possible by the cloud.
The planning and consulting category is expected to witness the fastest growth in the telecom consulting market during the forecast period (2021–2030), based on service. This will primarily be because consultants are well-versed in the latest technologies, analyze existing systems, and offer cost-cutting suggestions to telecom firms.
Geographically, North America is expected to lead the market throughout the forecast period. This is attributed to the presence of major telecom consulting service providers, such as McKinsey & Company, Bain & Company Inc., Boston Consulting Group Inc., CGI Inc., and IBM Corporation, in the region.
Moreover, Asia-Pacific (APAC) will be the fastest-growing region in the telecom consulting market, owing to the rising demand for these services in India and China. Operators are continuously investing in improving their networks, in order to satisfy the demand for faster broadband access in both the consumer and business segments.
The rapid digital transformation of enterprises is one of the key trends being observed in the telecom consulting industry. Digitization has changed the way organizations interact with customers and operate their internal processes. It also supports the IT infrastructure of the company in today’s world, which has resulted in competitive advantages and the success of businesses. Every industry, including banking, financial services, and insurance (BFSI), retail & e-commerce, and healthcare, now offers services such as digital payments, online portals, social media integration, and data sharing, thus resulting in a rising demand for advanced network setups. This would further lead to an increasing requirement for telecom consulting services.
The rising requirement for strong network connectivity is one of the major factors contributing to the telecom consulting market growth. Strong network connectivity plays an essential role in the smooth functioning of large businesses, by supporting them in effectively communicating with customers and accessing enterprise data from anywhere with robust security standards.
Moreover, in this era of digitization, companies are focusing on adopting new technologies, such as AI, the internet of things (IoT), and machine learning (ML), which has resulted in the development of cloud transformation telecom consulting. In 2020, leading telecom companies adopted the new-generation technologies to quicken up network expansion and reduce operational costs. The open radio access network (OpenRAN) architecture enables network operators to style and deploy 4G and 5G networks by integrating vendor-neutral software and hardware. This means that OpenRAN creates a chance for telecom operators to use software and hardware components sourced from many vendors. In 2021, OpenRAN has transformed the telecom industry and become the new normal.
Report Attribute | Details |
Historical Years |
2015-2021 |
Forecast Years |
2022-2030 |
Base Year (2021) Market Size |
$5,307.2 Million |
Market Size Forecast in 2030 |
$14,519.6 Million |
Forecast Period CAGR |
11.8% |
Report Coverage |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Company Profiling |
Market Size by Segments |
By Network Type; By Service; By Application; By Region |
Market Size of Geographies |
U.S; Canada; Germany; France; U.K.; Italy; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Saudi Arabia; South Africa |
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The telecom consulting industry is consolidated in nature. In recent years, the players in the global telecom consulting industry have been involved in partnerships and collaborations in order to attain a significant position. For instance:
The global telecom consulting market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.
Based on Network Type
Based on Service
Based on Application
Geographical Analysis
The market for telecom consulting services will witness a CAGR of 11.8% between 2021 and 2030.
Telecom consulting industry report segments include service, network type, application, and region.
The market for telecom consulting services is dominated by North America.
The telecom consulting industry is growing because of the rising requirement for higher networking speeds and bandwidths and uptake of next-generation technologies across industries.
The competitive landscape of the market for telecom consulting services is consolidated and characterized by collaborations and acquisitions.
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