ID: MRFR/ICT/4497-HCR | February 2021 | Region: Global | 100 pages
B2B telecommunication market is estimated to expand at CAGR of approximately 14% during the forecast period of 2017-2023. The B2B telecommunication systems are a platform that is primarily used to transmit information in various forms like text, sound, voice, and video. The direct communication between the businesses or enterprises enables them to establish their businesses and make the information visible to the customers. The B2B telecommunications systems enable businesses to manage their complex hierarchies effortlessly. Moreover, the advent of 5G technology and the Internet of Things (IoT) is completely relying on network connectivity which requires proper resource allocation protocols. This factor has stimulated the growth of the B2B Telecommunication industry.
The increasing utilization of cloud communication, combined with unified communication and collaboration in the fields like media and entertainment has increased the growth of the B2B telecommunications industry. The B2B telecommunication enables direct communication and enhanced visibility within the specified domain. Since the industries are generating an enormous amount of data every day which requires proper management and visibility, the B2B telecommunication industry is expected to grow at a steady pace in the forecast period.
COVID 19 Analysis:
The COVID 19 pandemic has imposed a huge economical threat to most industries. Currently, the industries are focusing on continuing the business activities with several strategies. The industries have reduced their key expenses yet emphasizing restructuring their strategies according to the changing market supplies. Also, they have started to continue the business from remote places, such factors have increased the overall growth of the B2B Telecommunication market during the pandemic.
The B2B telecommunication has significantly reduced the necessity of face-to-face physical meetings and the travel expenses incurred. B2B telecommunication market enables the potential clients to connect to them with the help of social media platforms and face-to-face meetings via teleconference. Since the COVID 19 has imposed restrictions on movements, the industries are still able to connect with their potential clients effortlessly.
The major driving factors are the increasing adoption of the Internet of Things across the industrial sectors and the advent of wireless technology, Machine-to-Machine communication with the users have impacted the growth of the B2B Telecommunication Market. The attractive features of reduced costs of broadband, expansive storage, availability of network even in remote places have fueled the growth of the B2B telecommunication industry.
The increasing industrialization and urbanization in several countries have increased the demand for the B2B Telecommunication market in recent years. The emergence of startups and increased volume of system data and data in various other forms like text, video, voice are augmenting the B2B Telecommunication market.
Owing to the increasing adaptation of advanced technologies, several industries are focusing on integrating their telecommunication services with the advanced technologies too. The advanced technologies have reduced the complexity of the business practices, the burden of the hardware systems. The cloud-based B2B Telecommunication services account for more than 50% of the global B2B Telecommunication market revenue. This factor explains the opportunity for B2B Telecommunication.
With the B2B Telecommunications, the businesses are enabled to create a smarter supply chain by distributing the machines, distributing the computing, and multi-accessing edge computing. By supporting different connectivity options, the business is capable of performing differently. This enables the creation of solutions that can be monetized across the industrial sectors.
Higher initial costs associated with the advanced telecommunication systems and the security issues and breaches associated with the system hampers the growth of the B2B Telecommunication industry.
The traditional telecommunication services can offer only one type of characteristic, the advanced B2B telecommunication services enable the customer to have multiple advanced characteristics, however, they lack the resources that are required to deploy the system.
The B2B Telecommunication highly relies on the information shared online. Thus the necessity of security measures is high. Factors like lack of security solutions are preventing the management from implementing the B2B Telecommunication. The immediate shift to the advanced service is difficult for any organization. These are the major restraining factors of the B2B Telecommunication service.
Several organizations are hesitant as the systems are lacking security measures and the organizations require time to shift to the advanced B2B Telecommunication services. However, the systems lack automation techniques and support systems. These are the major challenges for the growth of the B2B Telecommunication market. Additionally, the service providers are unable to provide efficient service for the complex business hierarchy due to the limitation in budget.
Cumulative Growth Analysis:
The B2B e-commerce marketplace has been successfully implemented in several countries which aided the growth of the customers in recent years. The SMEs of the organizations are considering B2B Telecommunication as a huge opportunity to interact with their potential clients. The technologies are highly cost-efficient and can support everyday financial operations; this factor has boosted the business applications and similar business operations effectively. Cloud-based solutions and social media integration have propelled the overall growth of the B2B Telecommunication industry in recent years.
B2B telecommunication market is estimated to expand at CAGR of approximately 14% during the forecast period of 2017-2023. Of all the segments, the media and entertainment segment is projecting the higher demand for the B2B Telecommunication industry. Since several marketing strategies are carried out through social media, B2B Telecommunication is expected to carry out the marketing strategies efficiently.
Value Chain Analysis:
Several enterprises have already integrated the B2B Telecommunication services. The travel expenses are reduced significantly, owing to the rise of face-to-face meetings via teleconference. The increasing adoption of the Internet of Things in several sectors and the reduced costs of broadband and expansive data storage have aided the growth of the B2B Telecommunication industry in recent years. Even small and medium-sized enterprises have started to adopt B2B Telecommunications as the features like unified log-in procedures and authentication procedures that permit the customers to view/read the information that is only relevant to them and their service context. Additionally, M2M analytics has increased the growth of the B2B telecommunication market.
The B2B Telecommunication enhances the business meetings and enables the companies to save time and travel and accommodation expenses. The usage of paper and other resources are significantly reduced which are the major driving forces of the B2B Telecommunication market. Also, IP-based communication provides several benefits that include, free voice calls to the significant offices. Additionally, the unified way of communications also enables companies to exchange information in different forms.
Based on Solution:
Based on Enterprise Size:
Based on Industry Vertical:
Currently, North America is expected to hold the largest market revenue among other countries. Since North America is booming with the increased adoption of IoT devices, VoIP services, and cloud-based solutions, North America is expected to continue the leading position in the Global B2B Telecommunication market. The countries in Asia-pacific are also expected to grow at the fastest pace in the forecast period. The growing industrial countries like India, China, South Korea, Japan are playing a crucial role in achieving a higher revenue rate in the B2B Telecommunication market. These countries are also increasing their investments in the media and entertainment sector in recent years owing to the advances in technology. Such factors have greatly augmented the overall growth of the B2B telecommunication market.
The Wind stream Company has recently announced about the new fiber that is going to be utilized in their network. This endeavor is expected to lower the latency and eliminate other internet issues.
The self-service capabilities can be implemented via telecoms with the advent of AI which instructs the customers to install and operate their devices. Such AI assistants have guided the users to perform a range of tasks from technical support to invoicing queries. Over 20% of the customer's queries are handled by chatbots.
This report has covered:
|Market Size||USD 72 Billion (2017-2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Solution, by Deployment|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Comarch SA. (Poland), Deutsche Telekom AG (Germany), NTT Communications (Japan), and Verizon Communications Inc. (U.S.). Vodafone Group PLC (The U.K), Orange S.A. (France), AT&T Inc. (U.S.), Cisco Systems, Inc. (U.S.), Amdocs Ltd (U.S.), and Telstra Corporation Limited (Australia)|
|Key Market Opportunities||Rising adoption of advanced telecom services in India, South Korea and China coupled with the expansion of the media and entertainment industry support APAC’s fastest growth rate in the global market.|
|Key Market Drivers||The key factors driving the market include the adoption of the Internet of Things (IoT) across various sectors. IoT technology is gaining traction as it is cost-efficient and offers benefits such as wireless transactions, and machine to machine (M2M) communication to users.|
Frequently Asked Questions (FAQ) :
The market can expand at a rate of 14% in the coming years.
The market size by the year 2023 will be USD 72 million.
The significant vendors in the global market are Cisco Systems, Inc. (U.S.), Telstra Corporation Limited (Australia), Verizon Communications Inc. (U.S.), Orange S.A. (France), Deutsche Telekom AG (Germany), NTT Communications (Japan), Comarch SA. (Poland), AT&T Inc. (U.S.), Vodafone Group PLC (The U.K), Amdocs Ltd (U.S.), among others.
The solution segment includes VoIP (Voice over Internet Protocol), WAN solution, unified communication and collaboration, cloud services, M2M communication, and others.
Rising adoption of advanced telecom services in India, South Korea and China coupled with the expansion of the media and entertainment industry support APAC’s fastest growth rate in the global market.