Telecom Cloud Market To Observe Fastest Growth In APAC
As per a report by P&S Intelligence, the telecom cloud market generated a value of USD 17.9 billion in 2022, and it will reach USD 92.6 billion, propelling at 22.80% CAGR, by 2030.
The growth of the industry is attributed to the increasing demand for robust network connectivity, growing usage of cloud-native environments, and rising 5G standards and IoT usage.
A major trend observed in the telecom cloud industry is the quick digital transformation in enterprises. Because of digitization, the progression of the way consumers and businesses interact has transformed their internal processes.
In 2022, the Software as a Service (SaaS) category, based on the service model, accounted for the largest telecom cloud market share, of 58%.
Platform as a Service (PaaS) has gained immense popularity due to its appeal to programmers who prioritize coding over infrastructure development and maintenance. By automating back-end processes and providing essential building blocks, PaaS empowers businesses to meet demand and elevate their success to new heights.
Additionally, PaaS proves to be highly beneficial for small industries and startups for several reasons. It offers cost-effectiveness and allows businesses to concentrate on their core expertise without the burden of maintaining foundational infrastructure.
The hybrid category, based on the deployment model, will observe the fastest growth, of approximately 24.5% CAGR, in the years to come. This is mainly credited to the requirement for both private and public clouds to support the environment of IT. The hybrid model enables businesses to constantly create their work environments on either the private or public cloud with no additional expenses for the infrastructure.
In 2022, the large enterprises category, based on organization size, accounted for the largest share in the industry, of 64%, owing to the mounting adoption of cloud solutions by multinational companies to manage the databases of large consumers.
The North American telecom cloud industry accounted for the largest industry share, of more than 36%, in 2022.
The APAC telecom cloud industry will witness the fastest growth, of more than 24% compound annual growth rate, in the years to come. This can be credited to the increasing expenditure on cloud infrastructure services in this region.
In China, the overall cloud industry is undergoing a transformative phase, marked by significant shifts in the competitive landscape and customer structure. China Telecom is strategically investing in the cloud services industry, leveraging its extensive coverage and cost advantages in infrastructure to make substantial improvements.
Hence, with the increasing need for strong network connectivity, the growing cloud-native environment, and rising 5G standards and IoT usage all over the world, the telecom cloud industry will continue to advance in the years to come.
Read More:
https://www.psmarketresearch.com/market-analysis/telecom-cloud-marketTelecom Cloud Market To Observe Fastest Growth In APAC
As per a report by P&S Intelligence, the telecom cloud market generated a value of USD 17.9 billion in 2022, and it will reach USD 92.6 billion, propelling at 22.80% CAGR, by 2030.
The growth of the industry is attributed to the increasing demand for robust network connectivity, growing usage of cloud-native environments, and rising 5G standards and IoT usage.
A major trend observed in the telecom cloud industry is the quick digital transformation in enterprises. Because of digitization, the progression of the way consumers and businesses interact has transformed their internal processes.
In 2022, the Software as a Service (SaaS) category, based on the service model, accounted for the largest telecom cloud market share, of 58%.
Platform as a Service (PaaS) has gained immense popularity due to its appeal to programmers who prioritize coding over infrastructure development and maintenance. By automating back-end processes and providing essential building blocks, PaaS empowers businesses to meet demand and elevate their success to new heights.
Additionally, PaaS proves to be highly beneficial for small industries and startups for several reasons. It offers cost-effectiveness and allows businesses to concentrate on their core expertise without the burden of maintaining foundational infrastructure.
The hybrid category, based on the deployment model, will observe the fastest growth, of approximately 24.5% CAGR, in the years to come. This is mainly credited to the requirement for both private and public clouds to support the environment of IT. The hybrid model enables businesses to constantly create their work environments on either the private or public cloud with no additional expenses for the infrastructure.
In 2022, the large enterprises category, based on organization size, accounted for the largest share in the industry, of 64%, owing to the mounting adoption of cloud solutions by multinational companies to manage the databases of large consumers.
The North American telecom cloud industry accounted for the largest industry share, of more than 36%, in 2022.
The APAC telecom cloud industry will witness the fastest growth, of more than 24% compound annual growth rate, in the years to come. This can be credited to the increasing expenditure on cloud infrastructure services in this region.
In China, the overall cloud industry is undergoing a transformative phase, marked by significant shifts in the competitive landscape and customer structure. China Telecom is strategically investing in the cloud services industry, leveraging its extensive coverage and cost advantages in infrastructure to make substantial improvements.
Hence, with the increasing need for strong network connectivity, the growing cloud-native environment, and rising 5G standards and IoT usage all over the world, the telecom cloud industry will continue to advance in the years to come.
Read More: https://www.psmarketresearch.com/market-analysis/telecom-cloud-market
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