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Telecom Consulting Market Overview
The global telecom consulting market is expected to witness considerable growth during the forecast period (2020–2030). Prime factors driving positive market growth include advancements in the communication needs of varied enterprises, advent of 5G network, surging adoption of wireless network connection, growing digitization across industries, increasing demand for high bandwidth requirements, rising investments in IT infrastructure, and rapid adoption of technologies such as internet of things (IoT), artificial intelligence (AI), and machine learning (ML) by businesses, which has resulted in the development of cloud transformation telecom consulting. Moreover, all these factors provide an opportunity for market players to introduce telecom consulting services, which support organizations in cost optimization.
On the basis of network type, the global telecom consulting market has been bifurcated into wired and wireless. Of these, wired category held the larger share in the market in 2019. This is mainly due to requirement of highly reliable connectivity and more control of wired communication devices, in large business organizations. Furthermore, wireless category is projected to witness faster growth during the forecast period, owing to demand for networks integrated with Internet of Things (IOT) applications, focus on creating smart infrastructure, and high preference for data storage on cloud network.
Geographically, North America held the largest share in the global telecom consulting market in 2019. This is mainly attributed to the presence of major telecom consulting service providers in the region, surging demand for IoT applications, adoption of cloud-based solutions, early adoption of advanced telecommunication technology, highly developed IT infrastructure, and increasing requirement for high bandwidth connectivity by industries such as BFSI, media & entertainment, retail, and others.
Telecom Consulting Market Dynamics
Rapid digital transformation among enterprises is one of the key trends observed in the market. Digitization has changed the way organizations interact with the customer and operate their internal processes. It also supports the IT infrastructure of the company, in today’s world, which has also resulted in competitive advantage and success of the business. Every industry including banking, financial service, and insurance (BFSI), retail & e-commerce, healthcare, and others, have offered services such as digital payment, online portals, social media integration, and data sharing, resulting in demand for advanced network setup. This would further lead to requirement of telecom consulting services, related to the adoption of solutions as per the industry needs.
Requirement of strong network connectivity is one of the major factors contributing in positive market growth, globally. Strong network connectivity plays an essential role for the smooth functioning of large businesses, which in turn support them to effectively communicate with their customers and accessing confidential data from anywhere with high security standards. Even, small and medium enterprises (SMEs) are also exploring opportunities related to the need of strong bandwidth requirements, due to changing customer preferences and to stay ahead of the competition.
In addition, high emphasis of organizations toward adoption of technologies such as AI, ML, and cloud computing, which require high network capacity and resulted in demand for network devices in varied industries. Users are focused toward fast pace downloading of more and more applications for different utility purposes, which has led to deployment of devices including audio and visual messaging devices and interactive displays, which are integrated with network connectivity. This would further contribute in consulting services related to installation of devices, preference of type of devices, and others, promoting in significant market growth, worldwide.
Telecom Consulting Market Competitive Landscape
The global telecom consulting market is fragmented in nature, owing to the presence of large number of providers of telecom consulting services. The major players covered in the market include PricewaterhouseCoopers LLC, Accenture PLC, Capgemini Services SAS, Deloitte LLP, McKinsey & Company, Boston Consulting Group, Wipro Limited, CSS Corp., International Business Machines (IBM) Corporation, L.E.K Consulting LLC, Bain & Company, Telefonaktiebolaget LM Ericsson, and among others.
The report will cover country-wise telecom consulting market analysis. Some of the major countries covered in the report include the U.S., Canada, France, Germany, the U.K., Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Turkey, Saudi Arabia, and the U.A.E.
Telecom Consulting Market Size Breakdown by Segment
The telecom consulting market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Network Type
Based on Service
Based on Application