Unleashing the Potential of B2B Telecommunication: Market Value to Reach $181.35 Billion by 2030

The report focuses on growth prospects, restraints, and trends of the global B2B telecommunication market analysis.

PORTLAND, OR , UNITED STATES, UNITED STATES, May 10, 2023 /EINPresswire.com/ — 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 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.

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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 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.

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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.

Major market players such as – 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.

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Some of the Recent Product Launches, Product approval, Announces and Merger in B2B Telecommunication Market –

• Product Launch: In April 2021, Verizon Business announced the launch of its BlueJeans Telehealth solution, which aims to enable healthcare providers to deliver virtual care services securely and efficiently.
• Product Approval: In March 2021, Nokia received approval from the Federal Communications Commission (FCC) for its 5G small cell product line, aimed at helping businesses improve network connectivity and support IoT applications.
• Announcement: In February 2021, AT&T announced that it was partnering with the global technology company, Cisco, to expand its software-defined wide-area network (SD-WAN) capabilities. The partnership aimed to enable AT&T’s business customers to have greater control over their network connections and bandwidth allocation.
• Merger: In January 2021, the cloud communication platform, Twilio, announced its acquisition of the customer data platform, Segment, in a deal worth $3.2 billion. The merger aimed to combine the strengths of both companies to help businesses enhance their customer engagement and communication strategies.

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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.

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