Market Highlights:
In order to gain a large market share and remain competitive in the market, telecom operators are striving very hard to provide best services to its customer. The services are measured in terms better connectivity and provide innovative solutions for the latest peripherals and technological trends. Therefore, telecom operators are encouraged to outsource their services to reduce operational costs and to focus on the core business. Increased demand of cloud services by telecom companies, reduced operational costs is expected to drive the market over the forecast period.
However, increase in number of cyber thefts and rising security concerns are presumed to hinder the market growth of telecom outsourcing market over the review period of 2020+-2030.
According to Market Research Future Analysis, the global telecom outsourcing
market has been valued at approx. USD 105.47 million with 4.36 % of CAGR during the forecast period 2020 to 2030.
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Market Segmentation
The Telecom Outsourcing Industry report explains that the global market has been segregated into end-use outlook and service type outlook.
The global market has been divided into health care, BFSA, IT and telecommunication, manufacturing, retail, and others based on the end-user outlook segment.
Based on the service type outlook segment, the global market has been segmented into a call center or customer services, human resources, finance and accounting, procurement and supply chain, KPO, etc.
Regional Analysis
According to the Global Telecom Outsourcing Market report, the global market has been classified into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
Out of all the regions, the North American region is leading by creating the largest market share during the review period. For instance, this region holds nearly 36% of the total market revenue in the analysis period due to the growing adoption of digital cloud services that need maintenance and frequent assistance for business operation in the region. In addition, this region has legislative and regulatory pressures, the presence of tech giants, and high adoption of BPO services in the region, fueling the regional market growth.
Furthermore, the Asia Pacific region is projected to register the highest CAGR during the forecast period of 2021 to 2028. The Asia Pacific countries have huge demands for telecom outsourcing due to several factors that include reduced labor cost, investments in infrastructural development by governmental bodies, significant digital investments by leading vendors, talented professionals, and many more.
Industry News
In the present scenario, innovative growth has been witnessed in special operations such as finance outsourcing accounting outsourcing. Additionally, fast growth has been seen due to the advancements in cloud services and internet speed. For instance, in May 2019, the prominent market player Vodafone Idea for Vodafone’s Service & Network Operations Center (SNOC) chose Hewlett Packard Enterprise (HPE).
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