B2B Telecommunication Market Size Reach USD 181.35 Billion by 2030, Top Factors Leading The Industry Worldwide

Growing adoption of IoT and rise in demand for B2B telecommunication among corporate and government organizations are boosting the market growth global.

PORTLAND, PORTLAND, OR, UNITED STATE, April 16, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, The B2B Telecommunication Market Size Reach USD 181.35 Billion by 2030, Top Factors Leading The Industry Worldwide. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The global B2B telecommunication market size was valued at USD 46.36 billion in 2020, and is projected to reach USD 181.35 billion by 2030, growing at a CAGR of 14.8 % from 2021 to 2030.

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Rise in adoption of IoT, surge in need for B2B telecommunication among governmental & private organizations, and increase in urbanization & industrialization across the globe drive the global B2B telecommunication market. Integration of novel technologies would unlock new opportunities for the market players in the future.

The global B2B telecommunication market is segmented on the basis of enterprise size, solution, industry vertical, and region. On the basis of enterprise size, it is classified into large enterprises and small & medium enterprises (SMEs). On the basis of solution, it is divided into cloud services, unified communication & collaboration, VoIP, WAN and M2M communication. On the basis of industry vertical, the global market is classified into BFSI, IT & telecom, media & entertainment, healthcare, government, retail & ecommerce and others. Region wise, the global B2B telecommunication market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Covid-19 Scenario:

● The Covid-19 pandemic encouraged the demand for B2B telecommunication due to lockdown restriction imposed by the government and adoption of work from home culture.

●The majority of the companies adopted B2B telecommunication to transmit information in several forms including voice, sound, text, and video.

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By industry vertical, the BFSI segment dominated the market in terms of revenue in 2020, contributing to around one-fourth of the global B2B telecommunication market, as it allows leading banks to securely process unique transactions as per business requirements in a day. However, the media and entertainment segment is projected to register the highest CAGR of 17.7% from 2021 to 2030, as it offers secure communication solution, which enables media houses to contact with big media houses and producers.

By enterprise size, the SMEs segment would register the highest CAGR of 15.9% during the forecast period, owing to the presence of small and medium-scale organizations and rise in need to enhance telecommunication systems among the SMEs to increase their business reach. However, the large enterprise segment held the largest share in 2020, accounting for nearly two-thirds of the global B2B telecommunication market, as it helps in auto-attendant and calls transferring.

By region, the market across North America held the largest share in 2020, contributing to around one-third of the market, due to increase in adoption of IoT and cloud-based products. However, the global B2B telecommunication industry across Asia-Pacific is anticipated to portray the highest CAGR of 16.1% during the forecast period, owing to the presence of several large-scale manufacturers and availability of high-speed communication networks across the region.

The key players profiled in the B2B telecommunication market analysis are Amdocs, AT& T, Inc., Cisco Systems, Inc., Comarch S.A., Deutsche Telekom AG, NTT Communication, Orange S.A., Telefonica, S.A., Vodafone Group PLC, and Verizon. These players have adopted various strategies to increase their market penetration and strengthen their position in the B2B telecommunication industry.

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