Albany, NY, Jan. 15, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research, The global telecom enterprise services market in terms of revenue was valued at US$148.7 bn in 2014 and is forecast to grow at a CAGR of 4.1% during the period 2015 to 2023. Growth of micro, small and medium enterprises (MSMEs) across the world and high industrial activity driving telecom enterprise services are the key factors driving the growth of the telecom enterprise services market. In addition, more investments and economic growth of emerging markets in APAC region and increase in worldwide enterprise IT spending across verticals is further expected to drive the growth of this market over the forecast period.
The global telecom enterprise services market by solution was dominated by the voice segment with a market share of 34% in 2014. Enterprise-level voice services and unified communications are major voice services which enable enterprises to improve productivity, reduce operating and travel expenses, and reap the benefits of VoIP while leveraging the existing legacy system investment made by enterprises. Advantages of voice solutions include streamlining communications, improved collaboration, and support mobility. Wireless/Mobility market share is forecast to grow at the fastest rate during the forecast period from 2015 to 2023. Data/Internet Service segment is expected to witness the second fastest growth during the forecast period from 2015 to 2023.
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In terms of end-user, the large enterprise segment with over 75% share in 2014 was the largest market in the overall telecom enterprise services market in terms of revenue. The small and medium enterprise segment is anticipated to be the fastest growing segment during the forecast period. Large numbers of startups being set up in the field of IT and ITeS across the world are expected to contribute to the global SME end-user telecom enterprise services market.
North America led the global telecom enterprise services market in 2014 with a share of about 36% in 2014 of the overall global telecom enterprise services market. There are approximately 3,800 independent communication technology partners and vendors (associated with Telecom Association (TA)) who consult with business end-users. These partners include master agents, agents, Telco agents, channel distributors, and VARs who enable sales of products and services of various telecom operators (vendors) globally. North America is one of the regions with the highest mobile penetration rate. On account of new opportunities, APAC and Latin America telecom enterprise systems market is expected to rise at a CAGR of 6.5% and 7.1% respectively during the forecast period 2015 to 2023.
The key providers in the telecom enterprise services market are X4 Solutions, Business Communications Management, Inc., WTG Technologies Limited, Telecom Brokerage Inc., Intelisys Communications, Inc., Telecom Brokers, Intracom Telecom SA, Converged Network Services Group, Advoda Communications, Inc. and Telarus Inc. among others.
The global telecom enterprise services market has been segmented as follows:
Telecom Enterprise Services Market, by Solution
- Data/Internet Service
- Managed Service
- Cloud Service
Telecom Enterprise Services Market, by End-User
- Small and Medium Enterprise
- Large Enterprise
Telecom Enterprise Services Market, by Revenue Stream
- Master Agent
Other Reports Published By Transparency Market Research:
Telecom API Market
Commercial Telematics Market
Global LTE Market
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Source:Transparency Market Research