Telecom Cloud Market Will Reach USD 92.6 Billion by 2030, Says P&S Intelligence

NEW YORK, April 19, 2023 /PRNewswire/ -- The global telecom cloud market is projected to be worth USD 92.6 billion by 2030, progressing at a CAGR of 22.80%, says P&S Intelligence.

This growth can be credited to the surge in the need for robust network connectivity, growth in 5G standards and IoT utilization, and development in the usage of cloud-native environments.

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Platform as a Service Is Extensively Accepted 

PaaS usage is extremely widespread because coders desire to concentrate on programming and not on building and preserving the infrastructure. Platform as a service permits companies to mechanize back-end processes and provide the desired building blocks to reply to demand, thus taking companies to the next level of success.

Hybrid Cloud Usage Is Projected To Grow Fastest 

In the coming few years, the hybrid cloud category is projected to grow at the fastest pace, of approximately 24.5%, credited to the requirement for both private and public clouds to aid the IT setup.

The hybrid model allows companies to quickly build their working environments on either the private or public cloud at no extra expense on the infrastructure.

This model accesses unlimited cloud resources, which can be scaled down or up as there is an alteration in the system. Moreover, it guarantees companies of speed and innovation, protects business steadiness, and improves security.

Telecom Clouds Are Mainly Utilized by Large Enterprises 

In 2022, large enterprises had the bigger global telecom cloud market share, of 64%. This is majorly because multinational companies are quickly accepting cloud solutions to manage their voluminous customer and enterprise records.

For example, General Electric has accepted a cloud-first plan with AWS, which is supporting the former's IT teams in getting out of setting up and running data centers and diverting its resources on innovation.

APAC Is Set to Showcase Fastest Growth in Telecom Cloud Adoption

APAC is projected to grow the fastest, with a CAGR of more than 24%, in the coming few years. in 2022 Q3, China's spending on cloud infrastructure services augmented by 8% year on year and touched nearly USD 8.0 billion, accounting for above 10% of the worldwide expenditure.

Browse detailed report on Telecom Cloud Market Share, Growth, Development and Demand Forecast to 2030

Alibaba, Tencent, Huawei, and Baidu AI are the top four businesses in the nation's cloud industry. This field is entering a new era with vital variations in the customer structure and competitive landscape. China Telecom is spending and gaining in the cloud services industry by taking benefit of its extensive coverage and low infrastructure costs.

Telecom Cloud Market Segmentation Coverage in the Report

Telecom Cloud Market Analysis by Component

• Platform
• Solutions
• Services
• Professional
• Managed

Telecom Cloud Market Analysis by Deployment Model

• Public
• Private
• Hybrid

Telecom Cloud Market Analysis by Service Model

• Software as a Service (SaaS)
• Platform as a Service (PaaS)
• Infrastructure as a Service (IaaS)

Telecom Cloud Market Analysis by Organization Size

• SMEs
• Large Enterprises

Telecom Cloud Market Analysis by NFV Software

• VNFs/CNFs
• NFVI

Telecom Cloud Market Analysis by Application

• Network, Data Storage, and Computing
• Traffic Management
• Cloud Migration

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SOURCE P&S Intelligence