Telecommunications Services Insurance Market Size Expected to Reach USD 12.06 Billion at a CAGR of 9.22%, by 2028



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Telecom Services Insurance Market Size – $ 5.97 Billion in 2020, Market Growth – 9.22% CAGR, Growing Need for Improved and Advanced Communication Services

NEW YORK, NY, USA, December 19, 2021 /EINPresswire.com/ – The growing need for advanced communication services and enhanced optimization, along with the growing number of mobile subscribers are propelling market growth.

The global telecommunications services insurance market is expected to reach a valuation of $ 12.06 billion by 2028, with a CAGR of 9.22% throughout the forecast period. The market was valued at USD 5.97 billion in 2020. The growth of the market is mainly due to the growing need for devices offering superior connectivity and enhanced experience. The advent of 5G technology and the rapid move towards a digital lifestyle are further fueling the growth of the market. The increasing penetration of advanced and complex technologies, coupled with increasing competition in the industry, further enhances the growth of the market.

Telecommunications service assurance can be defined as the policies and processes applied by communication service providers (CSPs) to ensure that the services provided over the networks meet the quality of service standards defined for a customer experience. optimal subscriber. Massive increase in cloud traffic, increasing number of mobile subscribers and increasing use of smartphones are pushing the telecom service insurance market to turn to the growth curve.

The competitive landscape of the telecommunications services market is fragmented, with several key players operating in the industry. The players adopt strategic expansion and development plans to establish a solid foothold in the industry. The increase in the number of subscribers, the growing need for improved optimization and the growing need for advanced communication services are pushing companies to develop innovative technologies, thereby boosting the growth of the telecommunications services insurance market.

Some of the major players in the industry are CA Technologies, Ericsson, Nokia Corporation, Accenture, IBM, MYCOM OSI, Oracle Corporation, Tata Consultancy Services Limited, Viavi Solutions Inc. and ZTE Corporation.

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Other key findings from the report suggest:

• The global telecommunications services insurance market is expected to reach a valuation of USD 12.06 billion by 2028, growing at a CAGR of 9.22% throughout the forecast period. The market was valued at $ 5.97 billion in 2020.
• Assurance of telecommunications services can be defined as the policies and processes applied by communication service providers (CSPs) to ensure that the services provided over networks conform to the quality of service standards defined for a service experience. optimal subscriber.
• Market growth is primarily driven by the growing need for devices that offer superior connectivity and enhanced experience. The advent of 5G technology and the rapid move towards a digital lifestyle are further fueling the growth of the market.
• Based on the type of solution, the service segment is expected to dominate the market in the coming years. The services segment is further distinguished by professional and managed services. Professional services are further classified into planning and consulting services, operation and maintenance services, and system interrogation services.
• The services segment is expected to experience the highest growth during the forecast period due to the rapid and increasing adoption of telecommunications service assurance solutions in large and small businesses. This has created an increased need for consulting services, deployment services, and support and maintenance services around the world.
• Based on the type of deployment, the cloud-based deployment model is expected to grow at a significant rate during the forecast period due to the rapid and rapid adoption of cloud-based solutions by telecom operators. to minimize costs associated with software maintenance and upgrades.
• Based on the size of organizations, small and medium enterprises are expected to grow at a significant rate due to the rapid adoption of cloud platforms and the increasing penetration of IoT and 5G network technology. This can be attributed to the growing inclination of midsize and small businesses towards cloud-based solutions to deliver optimal end-user experience.
• Based on the regional analysis, North America is expected to register the highest growth rate during the forecast period due to the increasing adoption of 5G network technology and advancements in the industry. of IoT. North America is expected to grow at a CAGR of 30% throughout the forecast period.
• Asia-Pacific is expected to register a significant growth rate due to the rapid digital transformation and the deployment of 5G network technology in regions such as China and Japan.
• In 2018, IBM and NETSCOUT joined forces to integrate NETSCOUT’s network analysis into IBM’s telecommunications analysis suite.

To identify the main trends in the sector, click on the link below: https://www.reportsanddata.com/report-detail/telecom-service-assurance-market

For the purpose of this report, Reports and Data has segmented the global telecommunications service assurance market on the basis of component, deployment, organization size, and region:

Components Outlook (Revenue, USD Million; 2018-2028)

• Services
• Solutions

Deployment Outlook (Revenue, USD Million; 2018-2028)

• Cloud
• On the site

Organization Size Outlook (Revenue, USD Million; 2018-2028)

• Small and medium enterprises
• Large companies
• Others

Regional Outlook (Revenue, USD Million; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Main Benefits of Telecommunications Services Assurance Report:

• Identification and analysis of market size and competition
• Qualitative and quantitative analysis of market data
• Data validated by industry experts after extensive primary and secondary research
• In-depth regional analysis of the telecommunications services insurance industry
• Profiling of key players as well as their business insight, business strategies, agreements and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for an in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, constraints, challenges, risks and limitations

To conclude, all aspects of the Telecom Services Insurance Market are quantitatively and qualitatively assessed to study the Global and Regional Market in a comparative manner. This market research presents critical information and factual data about the market, providing an overall statistical study of this market on the basis of market drivers, its limitations and future prospects.

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