Dublin, Dec. 31, 2021 (GLOBE NEWSWIRE) -- The "Global Telecom Service Assurance Market by Component (Solutions (Fault and Event Management, Performance Management, and Quality and Service Management) and Services), Operator Type, Deployment Type, Organization Size, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
This report forecasts the Global Telecom service assurance Market size to grow from USD 6.5 billion in 2021 to USD 10.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 9.9% during the forecast period. The presence of various key players in the ecosystem has led to a competitive and diverse market. Automation appears to be crucial for CSPs who engage in digital transformation, including 5G, enabled by Software Defined Networking (SDN) and Network Functions Virtualization (NFV). To avoid customer churn and financial implications, it is required to detect and remediate network or performance issues not only at the network operations level but also at service and customer satisfaction levels. CSPs tend to fulfill orders on time and provide efficient and cost-effective services. Apart from managing orders efficiently, service assurance solution providers help telecommunication providers, internet service providers, and similar vendor companies with the capability to find the faults that take place while delivering any service, network management, and workforce automation.
The services to record a higher growth rate during the forecast period
In the telecom service assurance market by component, the services is expected to record a higher growth rate during the forecast period. The services segment has a key role to play in the telecom service assurance market. With the increasing adoption of telecom service assurance solutions among CSPs, the demand for support services is expected to gain traction among organizations. The telecom service assurance market based on services is segmented into professional services and managed services. The services market holds a substantial share of the total telecom service assurance market and is expected to grow at a high rate.
Large Enterprises are expected to hold a larger market share during the forecast period
By Organisation size, large enterprises are expected to hold the largest market size Large enterprises hold a larger market size in the present market, as the segment has already shown major adoption and implementation of telecom service assurance services, wherein SMEs are expected to experience a high growth rate in the adoption of telecom service assurance products and services in the nearer future. With an increase in infrastructure and the advent of new technologies, such as cloud, enterprise mobility, 5G, IoT, and network orchestration, the demand for telecom service assurances tools is expected to increase across large enterprises.
Cloud Deployment is expected to have a higher growth rate during the forecast period
By Deployment Mode, cloud is expected to have a higher growth rate. Telecom operators are swiftly adopting cloud-based solutions as they reduce software maintenance and upgradation costs, provide faster deployment of systems, and increase flexibility in business operations. The advantages of the cloud deployment mode include flexibility, scalability, affordability, operational efficiencies, and the low-cost factor. The cloud-based telecom service assurance solution helps CSPs with high availability across multiple geographically distributed data centers, unlimited scalability for IoT and 5G growth, and agility to support on-demand digital service life cycles.
Mobile Operator is expected to have a higher growth rate during the forecast period
By Operator type, Mobile operator is expected to have a higher growth rate. The need for telecommunications companies to detect fraudulent calls in real-time to notify customers or shut down services on customer requests would drive the market growth of the mobile operator segment. Telecom service assurance solution provides unmatched, multidimensional customer experience metrics by addressing network evolution and growing traffic volumes. The solution focuses on network, service, and end-user-related data to deliver optimal service performance and customer experience management.
APAC to have a higher growth rate during the forecast period
By region, APAC to grow at the highest CAGR during the forecast period. Asian telecom service providers, vendors, and government firms are determined to take the lead in 5G research and deployment. Various countries in Asia have either initialized the implementation of smart city projects or are in the planning phase. China is the biggest marketplace in APAC for the development of smart cities. Delivering new video services through enhanced broadband was cited as the most important use case in APAC. Key drivers in Japan and South Korea are connected vehicles and IIoT, while connected healthcare is the most important driver in India, Australia, and Vietnam.
Operators' Growing Need to Automate Network Operations due to High Customer Churn and Low ARPU from Voice and Data Services
Large-Scale Implementation of SDN and NFV
Technology Enhancement Forcing Individuals to Adapt to the Latest Technologies
Concerns Over Data Privacy
Issues with Compatibility
Growing Complexities in Communication Network Ecosystem by IoT and 5G Technologies
COVID-19: Need for Network Resiliency and the Push for Telecom Service Providers to Transform Their Business Model as Digital Service Providers
Demand for SDN and NFV-Based Cloud-Native Solutions to Replace Traditional Networking Model
Increasing Mobile Communication in Various Businesses
Complexity and Cost Involved in Upgrading Traditional Network Infrastructure
In-House Service Assurance Solutions Used by Service Providers
Exponential Increase in Network Traffic with Large Customer Churn and Fall in Exchange Rates due to COVID-19 Pandemic
Broadcom: Telecom Service Assurance Market: Product Launches
Ericsson: Telecom Service Assurance Market: Deals
Netscout: Rance Market: Product Launches
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