Telecom Consulting Market To Generate Revenue Worth $14,519.6 Million by 2030

The increasing requirement for strong network connectivity and rapid adoption of advanced technologies by businesses are the major growth drivers for the global telecom consulting market. Due to the aforementioned factors, the industry is projected to generate $14,519.6 million revenue by 2030, advancing at a CAGR of 11.8% during 2021–2030.

During the COVID-19 pandemic, network usage is skyrocketing, with many telcos reporting large spikes. In some countries, the volume of voice calls has also increased exponentially. Additionally, data usage has ballooned as it is being consumed by governments and private organizations to monitor the situation. Many companies are looking at a long-term investment in their networks and, in some cases, pulling forward investments in 5G because of its higher reliability and speed. Thus, a positive impact of the COVID-19 pandemic has been seen on the global telecom consulting industry.

Wireless Category To Hold Larger Share throughout Forecast Period

The telecom consulting market is categorized into wireless and wired, on the basis of network type. Of these, the wireless category dominated the market during the historical period (2015–2021), and it is expected to retain its dominance during the forecast period (2022–2030). This will mainly be because wireless networks allow mobile users to access real-time information so they can move without getting disconnected from the network.

Moreover, the market is categorized into cloud services, unified communications, FTE/LTE/FTTH/4G/5G, smart grid, and mobile broadband, under the application segment. Among these, the unified communications category is expected to witness the fastest growth during the forecast period. This will be because unified communication gives employees the ability to respond to customers no matter where they are. They are able to see incoming calls, chats, and emails from any device.

Globally, North America was the largest contributor to the market in 2021. This was primarily due to the increase in the demand for high bandwidths, rapid deployment of mobile networks, and rise in the adoption of cloud services in the region. The total number of fixed broadband subscriptions in the region is 136 million, which continues to increase, thereby leading to a high demand for consulting services among telecom companies seeking to expand their network and customer base.

Whereas, the Asia-Pacific (APAC) telecom consulting market is expected to witness the fastest growth during the forecast period. Several firms are increasing their investments in data security and cloud-based solutions. Fast-growing economies, such as China, India, Singapore, Australia, and New Zealand, offer a huge chance to use managed outsourcing services to firms. Besides, a number of managed service providers in the region are working on cloud-based platforms for the banking industry.

Mergers and Acquisitions Are Most-Effective Strategic Measures

Players in the telecom consulting industry have been involved in mergers and acquisitions to remain competitive. For instance, in November 2021, Capgemini acquired cloud transformation and digital services provider Empired Limited. The combined scale and broad service portfolio will give Capgemini extensive digital, data, and cloud capabilities across the entire Microsoft technology product suite.

Similarly, in November 2021, Accenture PLC acquired ClearEdge Partners, a firm specializing in procurement spend management, to help clients better manage their digital transformation spending.

The major players in the global telecom consulting market are Bain & Company Inc., Telefonaktiebolaget LM Ericsson, L.E.K. Consulting LLC, Boston Consulting Group Inc., McKinsey & Company, Capgemini Services SAS, Wipro Limited, Accenture PLC, CGI Inc., Tata Consultancy Services Limited, International Business Machines Corporation, Atos SE, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, and KPMG International Limited.