The global B2B telecommunication market is projected to be valued at US$ 100 billion, registering expansion at a 13.6% CAGR.
Recent research conducted by Future Market Insights projects that the global demand for B2B telecommunication will be largely emanating from the BFSI sector and media & entertainment industry. According to Future Market Insights’ report, the global revenues from B2B telecommunication surpassed an estimated US$ 30 billion in 2016. By the end of 2026, the global B2B telecommunication market is projected to be valued at US$ 100 billion, registering expansion at a 13.6% CAGR.
More than one-fourth of the global B2B telecommunication revenues throughout the forecast period will be accounted by the BFSI industrial vertical, which will amount to more than US$ 27 billion by the end of 2026.
Government and administrative bodies, and healthcare organisations such as hospitals and medical research institutes will also considered lucrative industrial verticals for B2B telecommunication, procuring a combined global market value share of nearly 30% by the end of forecast period. Growth in B2B telecommunication revenues from the media & entertainment industry is predicted to be at a faster pace with a CAGR of 14.7%.
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Unified B2B Telecommunication Services Gaining Traction
Businesses availing B2B telecommunication services are able to select suitable types of solutions, on the basis of facilities provided. While cloud-based B2B telecommunication services currently account for half of the global market revenues, their revenue share is expected to drop over the period of next ten years. Increasing adoption of unified communication and collaboration solutions is predicted to partly instrument the dip in cloud services’ global market contribution.
By 2026, nearly US$ 25 billion revenues are projected to be harvested globally from sales of unified B2B telecommunication services. Furthermore, the demand for VoIP services, WAN solutions and M2M communication solutions is also expected to grow at steady rate over the next decade.
North America & APEJ – Dominant Regions
In 2016, North America’s B2B telecommunication market was valued at an estimated US$ 8.5 billion. Surging adoption of cloud and VoIP services by US-based businesses has been assessed as the key attributor for growing sales of B2B telecommunication services in North America. Although, B2B telecommunication revenues in North America will increase at a 15.3% CAGR.
On the other hand, the B2B telecommunication market in Asia Pacific excluding Japan (APEJ) region is projected to register rampant expansion at the highest CAGR of 17.3%. By 2026-end, the APEJ B2B telecommunication businesses will dominate the global B2B telecommunication market with 28.5% global revenue share.
Comparatively, the B2B telecommunication market in Latin America, Eastern Europe and the Middle East & Africa (MEA) region will incur sluggish expansion over the forecast period. Japan’s contribution to the global B2B telecommunication market value is estimated to be over US$ 15 billion by the end of 2026, which will be approximately US$ 3 billion higher than the value of Western Europe’s B2B telecommunication market.
The report has further profiled key players of the global B2B telecommunication market, which include, NTT Communications Corporation, Vodafone Group PLC, Orange S.A., Telefonica S.A., AT&T Inc., Telstra Corporation Limited, Deutsche Telekom AG, Verizon Communications, and SoftBank-owned Sprint Corporation.
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Global B2B Telecommunication Market – Segmentation
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Apr 20, 2023
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