Telecom IT Services Market Size, Share, Growth Report 2030

Telecom IT Services Market

Telecom IT Services Market by Deployment type (Cloud Based and On Premise), by Solution Type (CRM, OSS BSS Solution, Mobile Commerce, Supply Chain Planning, and Others) by End User (Large Enterprises and SMBs): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 13-May-2021 Category: Technology & Media Report Format : PDF Pages: 160 Report Code: ZMR-581 Status : Published

The global telecom IT services market accounted for USD 168.5 Billion in 2020 and is expected to reach USD 892.4 Billion by 2028, growing at a CAGR of 23.2% from 2021 to 2028.

Market Overview

The global telecom IT services market accounted for USD 168.5 Billion in 2020 and is expected to reach USD 892.4 Billion by 2028, growing at a CAGR of 23.2% from 2021 to 2028.

Telecommunications service providers offer telecom IT services in order to handle large amounts of communication data. Communication systems are critical for companies in order to effectively interact with customers and establish healthy customer relationships. Telecom IT services mainly include fax, phone, email, internet and radio among others. Rapidly expanding base of internet subscribers and a strong demand for high-speed, uninterrupted network are one of the primary factors driving the growth of this market. The advent and adoption of 5G technology is one of the top trends in this market currently. Fifth generation (5G) technology rollout is vital in today’s environment of remote working and constant digital developments. Artificial Intelligence (AI) is also expected to create a stronger foothold in the telecom IT services market through virtual assistants, chatbots and other mediums.

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COVID-19 Impact Analysis

Being restricted inside and working remotely because of the pandemic has led to a spike in traffic of data and voice and increased broadband usage, which has in fact benefitted the telecom IT services market. In contrast to other markets, this sector has been exempted from most COVID-19 constraints and has turned out to be an essential service. Market players are coming up with new services and creative ways to make business operations run more smoothly. Cloud based telecom service providers, especially are stepping up their game with new enhanced features.

Growth Factors

The increasing popularity, along with companies and individuals actively opting for cloud based technology and solutions are anticipated to augment the market in the coming future. Further, powered by the current switch to remote offices and increased digital activity, cloud based telecom service providers especially can drive their business by providing enhanced communication solutions. Remote learning is expected to become the standard in the future, which can enable telecom service providers come up with unique solutions to assist educators in reaching students especially those who have limited access to Wi-Fi.

Other potential factors driving the growth of the telecom IT services market include constantly rising number of mobile subscribers and growing dependency on smartphones and wireless technology.

Report Scope:

Report Attribute Details
Base Year 2022
Historic Years 2018 - 2022
Forecast Years 2023 - 2030
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2023 to 2030
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Deployment Type Segment Analysis Preview

Cloud based segment held a share of over 55% in 2020. This is primarily attributable to the cost flexibility, ease of business scalability and collaborative ecosystems that telecom cloud solutions have to offer. It has eliminated the need for businesses to purchase expensive hardware in order to remain globally connected. Advances in cloud based technologies can enable companies compete in a challenging and dynamic market more effectively.

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End User Segment Analysis Preview

SMBs segment will grow at a CAGR of around 23% from 2021 to 2028. This is attributable to the growing focus on reliable and quality voice calls for customer interaction and data delivery by businesses. An increase in deployment of 5G networks in business applications to improve connectivity and customer experience and adoption of cloud based technology may also contribute to the growth of this segment.  

Regional Analysis Preview

The North American region held a share of over 30% in 2020. This is attributable to the presence of top companies such as IBM Corporation, Cognizant, AT&T, and Verizon Communications among others in the industry, whose rapid growth is expected to drive the growth of the telecom IT services market.

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The Asia Pacific region is projected to grow at a CAGR of over 20% over the forecast period. This region is expected to be the fastest growing market, owing to a surge in e-commerce and investments in 5G networks as well as rising adoption of cloud based solutions to implement top class technology. China, India, and Japan are considered to be the most significant contributors to the growth of this market.   

Additionally, adoption of Internet of Things (IoT) in various industrial and business operations is also expected to open new avenues for this market in the coming years.

Key Market Players & Competitive Landscape

Some of key players in the global telecom IT services market are Ericsson, IBM Corporation, Cognizant, AT&T, Capgemini, Verizon Comunications, and Huawei, among others. 

Key market players in this market are resorting to and making investments in new age technology such as 5G networks and cloud based solutions to strengthen their foothold and broaden their consumer base. For example, in February 2021, AT&T Inc. and Verizon Communications spent a total of about USD 70 Billion on 5G spectrum technology to offer better network coverage to their customers. Other telecom service companies, such as China Mobile Ltd., KT Corporation, and Vodafone Group, are also investing heavily in acquiring millimetre wave (mmWave) spectrum for delivering high speed connectivity.

The global Telecom IT services market is segmented as follows:

By Deployment Type

  • Cloud Based
  • On Premise

By Solution Type

  • CRM
  • OSS BSS Solutions
  • Mobile Commerce
  • Supply Chain Planning
  • Others

By End User

  • Large Enterprises
  • SMBs

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content


FrequentlyAsked Questions

The global telecom IT services market was valued at USD 168.5 Billion in 2020.

The global telecom IT services market is expected to reach USD 892.4 Million by 2028, growing at a CAGR of 23.2% between 2021 to 2028.

Some of the key factors driving the global telecom IT services market growth are increasing number of internet subscribers, rising demand for cloud based solutions, remote working and education and incorporation of AI among others.

Asia Pacific region held a substantial share of the global telecom IT services market in 2020. This is attributable to rapid technological developments in major players such as China, Japan, India and South Korea.

Some of the major companies operating in the global telecom IT services market are Ericsson, IBM Corporation, AT&T, Cognizant, Capgemini, Verizon Communications, and Huawei, among others.

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