NEW YORK, April 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of “Telecom Consulting Market Research Report: By Network Type, Service, Application – Global Industry Analysis and Growth Forecast to 2030” – https:// www.reportlinker.com/p06272196/?utm_source=GNW
From an estimated $5,307.2 million in 2021, the market value for telecom consulting is projected to reach $14,519.6 million by 2030, at a CAGR of 11.8% between 2021 and 2030. Major players in the industry include Bain & Company Inc., LEK Consulting LLC, Telefonaktiebolaget LM Ericsson, Boston Consulting Group Inc., Capgemini Services SAS, McKinsey & Company, Wipro Limited, CGI Inc., Accenture PLC, Tata Consultancy Services Limited, Atos SE, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, KPMG International Limited and Ernst & Young Global Limited.
Aside from pure planning and consulting, these companies provide system integration, operation and maintenance services to telecom operators worldwide. Among these, the demand for planning and consulting is greatest as people’s network needs change and telecom companies need to adapt their own systems. Therefore, they hire consultants who offer expert advice, analyze their existing systems and help them improve their network coverage with maximum cost savings.
The key findings of the Telecom Consulting market report
• The introduction of artificial intelligence, online news, television and games; digital personal assistants, connected and autonomous vehicles, digital baking and shopping, and other virtual solutions are driving telcos to improve their network connectivity, which is why they are hiring consultants.
• In this regard, the rapid adoption of 5G is the strongest growth driver for the telecom consulting market. Telcos need to quickly and cost-effectively upgrade their existing infrastructure, add new towers and use artificial intelligence to predict peak traffic times and end-user distribution, and improve network capability.
• This is also why most telcos turn to consulting services as the first step in installing new wireless networks and upgrading existing networks.
• Most requests for telecom consulting services relate to cloud services that have revolutionized the IT sector by allowing companies and individuals to store their data and access advanced software on third-party servers.
• North America generates much of the revenue from the telecom consulting market as its telecom and IT sectors are making rapid technological advances, particularly with the rollout of 5G networks.
• The fastest growing demand for consulting services will be from telecommunications companies in Asia Pacific (APAC), where more and more people are connecting to the Internet and demanding higher network speeds and low latency.
As the services provided by the market players are highly technical and require immense skill and knowledge to be disseminated, the industry is consolidated in which only well-established consultancies operate. The top players have been deeply involved in collaborations and partnerships, service launches, and mergers and acquisitions to enhance their offerings and earn the trust of more customers.
These actions by the telecom consulting market participants are fueled by the rapid digital transformation of businesses across all industries. This leads to changing network and connectivity requirements from companies. As individuals and businesses in all parts of the world demand higher download and data transfer speeds with low latency, telecom companies are forced to work with consultants to improve their services.
Read the full report: https://www.reportlinker.com/p06272196/?utm_source=GNW
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