Telecom Managed Services Market to Touch New Height 22.58 billion By 2022
Telecom managed services enables Communication Service Providers (CSPs) to successfully encounter the ever changing business, technology, and customer requirements. Telecom managed services enable service providers around the world to improve their BSS/OSS operations that include revenue assurance, fraud management, asset assurance, cost management, and others. The telecom managed services market includes various managed services such as managed data center, managed network services, managed mobility services, and managed security services. MarketsandMarkets forecasts the telecom managed services market to grow from USD 11.90 Billion in 2017 to USD 22.58 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.7%. Cost reduction in managing enterprise infrastructure, minimize the risk associated with business operations in terms of security, and increased operational efficiency of business systems are the prime factors, which will drive the adoption of telecom managed services.
The 14 players profiled in the telecom managed services market include top vanguards, innovators, dynamic, and emerging. The companies are Amdocs (Missouri, US), AT&T (Texas, US), CenturyLink (Louisiana, US), Cisco Systems, Inc. (California, US), Comarch S.A. (Kraków, Poland), Ericsson AB (Stockholm, Sweden), GTT Communications, Inc. (Virginia, US), Huawei Technologies Co., Ltd. (Shenzhen, China), IBM (New York, US), NTT Data (Tokyo, Japan), Sprint.com (Kansas, US), Tech Mahindra (Mumbai, India), Unisys (Pennsylvania, US), and Verizon (New York, US). These players have adopted various strategies, such as new product developments; business expansions; mergers & acquisitions; and partnerships, agreements, and collaborations to achieve growth in the global telecom managed services market.
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Ericsson is an eminent player in the telecommunication industry. The company is currently focusing on serving its customers with highly competent technology-enabled products in managed services to sustain in the competition. Ericsson provides managed services products that enable enterprises to efficiently handle user and service information. Ericsson’s strategy is to outshine in its core business, establish a strong global footprint in the targeted areas, and expand its business in new areas of technology. It has been adopting various organic strategies to strengthen its position in the telecom managed services market. The company has launched several products to serve the needs of the customers. For instance, in 2016, Ericsson collaborated with Cisco Systems, to launch a new product named Ericsson Dynamic Service Manager. The product was launched in order to dynamically monitor, configure, and optimize the network resources available for applications in multi-domain network environments. During 2014–2017, Ericsson focused on inorganic growth strategies such as partnerships, agreements, and collaborations. For instance, in 2014, Ericsson entered into an agreement with Reliance Communications Limited for seven-year in order to operate and manage their wireline and wireless networks across India for 2G, CDMA, and 3G mobile networks.
Cisco Systems Inc. leverages its strong multivendor relationship with key players to provide customized services to clients suiting their requirements. This helps the company in providing very efficient innovative solutions, thereby increasing customer satisfaction. It is continuously innovating to broaden its product portfolio to cater to the changing demands of customers. By leveraging upon its expertise in global network solutions, it is helping its customers maximize efficiency in managed service. It substantially invests a large amount of its annual revenue in Research and Development (R&D). For instance, it invested 12.6% in R&D 2015 and increased it to 12.8% in 2016. Cisco primarily focuses on the inorganic strategies such as partnerships, agreements, and acquisitions. In 2015, Cisco and Telecom Italia entered into a partnership in which Telecom Italia provided new Cisco-enabled managed business services, including Cisco Meraki, to organizations all over Italy as a part of its advanced LAN management offering.
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Key Target Audience for Telecom Managed Services Market
- Communications Service Provider
- Managed Service Providers
- Government Agencies
- IT Security Agencies
- Mobile Network Operators
- Mobile Virtual Network Operators
- Infrastructure Architects
- Open-Source Platform Providers
- System Integrators
- External Service Providers
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