B2B Telecommunication Market to Garner $181.35 Bn, Globally, by 2030 at 14.8% CAGR: Allied Market Research

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Dec 09, 2021, 07:50 ET

PORTLAND, Ore., Dec. 9, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "B2B Telecommunication Market by Enterprise Size (Large Enterprises and SMEs), Solution (Cloud Services, Unified Communication & Collaboration, VoIP, WAN and M2M Communication), and Industry Vertical (BFSI, IT & Telecom, Media & Entertainment, Healthcare, Government, Retail & ECommerce and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030". As per the report, the global B2B telecommunication industry was pegged at $46.36 billion in 2020, and is estimated to generate $181.35 billion by 2030, growing at a CAGR of 14.8% from 2021 to 2030.

Major determinants of the market growth

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. However, high implementation cost of B2B telecommunication and privacy & security concerns hinder the market growth. On the contrary, integration of novel technologies would unlock new opportunities for the market players in the future.

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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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The SMEs segment to portray the highest CAGR through 2028

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.

The BFSI segment held the lion's share

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.

North America dominated the market in terms of revenue

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.

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Key market players

Amdocs
Cisco Systems, Inc.
AT& T, Inc.
Deutsche Telekom AG
Comarch S.A.
Orange S.A.
NTT Communication
Vodafone Group PLC
Telefonica, S.A.
Verizon

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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