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.
Scope of Telecom Service Assurance Market Report
The report on the global telecom service assurance market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Telecom Service Assurance Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Deployments (On-premise and Hosted), Services (Professional Services and Managed Services), and System (Probe Systems, Workforce Management, Fault and Event Management, and Quality/Performance Monitoring)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
IBM Corporation; Cisco Systems, Inc.; Ericsson; Accenture PLC; and Hewlett-Packard Company
Telecom Service Assurance Market Segment Insights
Hosted segment is expected to grow at a rapid pace
Based on deployments, the telecom service assurance market is divided into on-premise and hosted. The hosted segment is expected to grow at a rapid pace during the forecast period. Telecom operators are swiftly adopting these solutions as they reduce software upgradation and maintenance costs. The advantages includes scalability, flexibility, operational efficiencies, affordability, and cost-effectiveness.
Managed services segment is projected to expand at a considerable CAGR
On the basis of services, the market is segregated into professional services and managed services. The managed services segment is projected to expand at a considerable CAGR during the forecast period. Rising requirement to manage multi-vendor environments that can prompt inefficiencies and negatively impact consumers experience and brand value, the telecom service providers are coordinating with telecom service assurance providers to integrate with old systems and provide convenient feedback for the data.
Quality/performance segment is projected to expand at a considerable CAGR
In terms of systems, the market is segregated into probe systems, workforce management, fault and event management, and quality/performance monitoring. The quality/performance segment is projected to expand at a robust rate due to the increasing adoption of IoT, 5G technology, cloud platforms, and changing customer dynamics.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the telecom service assurance market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period. Increasing consumer purchasing parity in this region is set to increase Internet and mobile penetration. Vast geographic variations combined with a humongous customer base that is growing at a rapid pace is creating complexities in operation for telecom service providers. These complexities have led telecom service providers to invest in telecom service assurance.
The telecom service assurance market has been segmented on the basis of
- Professional Services
- Managed Services
- Probe System
- Workforce Management
- Fault and Event Management
- Quality/Performance Monitoring
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
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.